Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[D. Lerk]

The price is about $3k higher than it should be at this part of the cycle.   We are already higher than what the December 2019 peak should be. It’s all gravy.

The recovery from lows has been far faster this time, the only reasoning I think of why that happen is at the same time the similar kind of reversal to reasoning by the Federal reserve (last hard statement was December) in proposing a continual scheme of rising interest rates no matter what; but now seemingly being on a path to completely stop and probably lower rates if any weakness in the economy occurs.
Until the fiscal deficit and probably the trade deficit is closed and probably requiring a surplus, I see USD as weakening over years but the market doesn't immediately reflect that and its related to retention of dollar debt vs alternatives.  When the ECB has such a weak policy itself and is also involved in QE, the EURO is unlikely to be much an alternative and the Euro bond market is taken up with ECB buying so far as I know.   Japan again the market is saturated with new money via QE so again the currency is unlikely to be as strong as it should be vs the dollar.    If there is currency weakness worldwide now and predicted ongoing, theres little to oppose BTC or any asset price especially if demand for that commodity is growing.

That big switch in sentiment on global reserve money might explain some of the reversal, I dont know if BTC price after that initial reaction then loses momentum and goes sideways after bouncing so high.   I spotted this idea of a parabolic rise but a giant rise without pulling back I think is not as positive longterm for stability, I would not guess this happens so soon.


Right this moment I see the price as bouncing between two moving average in an increasingly tight range, it seems to be it will breakout but so far price moving downwards has not settled far for long before returning to a similar price under 8000

Guys this last bear market had ZERO bounces of significance. Bulls were dead for a year. So this bounce is not more than expected. In fact, ratio wise it is LESS than the bounce to $500 at the beginning of the last bull cycle. Plus we are now a year from halving.

For all we know this could be mid 2013 again. Too many people looking in the wrong places.

I think there is a whiff of 2013 between-the-peaks.

Using vague feely words is legitimate because the market landscape and participants have changed so much so quickly that I'm not sure we can rely on chart superimposition and fractal comparison as much as we can on more mature markets. There was very little leverage 7 years ago, no futures, no tail-wagging derivatives, far fewer professionals and I doubt any prop desks.

Bitcoin can get beaten up, either by the gox matching engine taking 30 minutes to execute a market order and so driving participants to cash, or by futures traders stepping in or deep pocketed shorters determined to get in position for the next run, but it can shoot up with a vengeance that trad markets or newcomers won't believe.

The way these dips are being bought is impressive. There's still people convinced they can buy in much cheaper, and I wouldn't be surprised if they're starting to worry. For all its 20k glory the last run did feel like it ended a little early (what can I say? to me it did) like Apr 13, and windy has a point.

[JayJuanGee]

Dear mic,

As a WO friend to a friend... You don't want to be caught up in DT1 drama. It's a bastion of shit.

I still don't get all that crap and never will. When I look at the subforum infested with it it's like they're speaking a different language on a different planet in a different dimension.  

What's at stake there? What is all that trust shit for? What do they hope to achieve? What are they selling to each other? Hate mail, turds in boxes and PIs to go through each other's trash? Doesn't everyone have better things to do?

    Apparently not.      

[BitcoinGirl.Club]

Dear mic,

As a WO friend to a friend... You don't want to be caught up in DT1 drama. It's a bastion of shit.

I still don't get all that crap and never will. When I look at the subforum infested with it it's like they're speaking a different language on a different planet in a different dimension.  

What's at stake there? What is all that trust shit for? What do they hope to achieve? What are they selling to each other? Hate mail, turds in boxes and PIs to go through each other's trash? Doesn't everyone have better things to do?

    Apparently not.      

It's fun reading though 🤪

When bitcoin stops moving and I lose money in gambling then I spend my times in Reputation board. After half an hour I come out losing my bad memory LOL

[BitcoinGirl.Club]

Uncle Nutildah

Mic listen to your uncle. Those were some real shit 🤪

[gentlemand]

It's fun reading though 🤪

When bitcoin stops moving and I lose money in gambling then I spend my times in Reputation board. After half an hour I come out losing my bad memory LOL

It makes me want to parachute them nude onto a volcanic island on the verge of erupting. If they make it out alive they'll emerge with some perspective finally. It makes for a truly pitiful spectacle.

There are women coat hangering themselves in Alabama right now and Filipino children being used as literal hand puppets by obese Germans, yet there they are screeching and rocking back and forth behind their computer screens about something someone might have written 5 years ago.

[JayJuanGee]

In the spirit of Uber Bullishness I propose a moratorium on JJG STFU Thursdays starting today.

Totally unfair!!!!!!!



I would like to say fuck you to myself just to make up for a proposal that would remove me from having a WO thread day.   

[BitcoinGirl.Club]

It's fun reading though 🤪

When bitcoin stops moving and I lose money in gambling then I spend my times in Reputation board. After half an hour I come out losing my bad memory LOL

It makes me want to parachute them nude onto a volcanic island on the verge of erupting. If they make it out alive they'll emerge with some perspective finally. It makes for a truly pitiful spectacle.

Imagine to invite all these users (if we would known their real identity) and lock them in a room and then reveal their forum username to each others LOL

[JayJuanGee]

The price is about $3k higher than it should be at this part of the cycle.   We are already higher than what the December 2019 peak should be. It’s all gravy.

Am I the only one kind of wishing their lives away until a point in the future, probably late 2021 or something?

No, I've got kind of a low key depression going on. I should be enjoying every moment of life, but I feel like I'm just going through the motions every day and just trying to "survive" until I can retire within 2-3 years, hopefully.

It makes me wish I was in a coma for three years. ATM, I'd probably be happier if I never heard of bitcoin. Weird situation    And I feel bad for feeling bad about this.

We need a fucking therapist in this thread.

Edit: Bob's suggestion of stasis would be better than a coma

Despair should not exist when BTC prices just doubled in the past 2 months... Of course, a minor correction, but we are still within about 6% of the $8,391 local top from merely a week ago.

[MrFreeRoMan]

via Imgflip GIF Maker


Boring Tedious!

[MrFreeRoMan]

$8,391 local top from merely a week ago.

This is the complete destruction of bears!
If we ever close above 8350

[BitcoinGirl.Club]

Bitcoin is settling over $6 billion of transactions each day now.

How does $BTC volume compare to America's top payment networks?

https://twitter.com/cryptobuzznews/status/1131690238621806593/photo/1




Observing @ $7,892

[BitcoinNewsMagazine]

$8,391 local top from merely a week ago.

This is the complete destruction of bears!
If we ever close above 8350

Not quite ... weekly close over $8600 from my PnF charts.

[btcsmlcmnr]

https://twitter.com/cryptobuzznews/status/1131690238621806593/photo/1

When bitcoin moves back to its price range around $15000 or $18000, it might make a flippening with Master card, or even take over the first position of Visa card, as the top payment network of the US. citizen. I could be wrong but I remember that in 2017 or early days of 2018, when bitcoin stood at its all time high range, there are so many articles, news spred out with the prediction that Bitcoin will take over Visa position soon or it actually took over Visa position during that period.

[El duderino_]

^
Who photoshopped that code in that picture with those little girls, or are those the next BTC users??

[GreatArkansas]

$10,000, the most awaited level 

1D timeframe.

https://twitter.com/TuurDemeester/status/1131634823091621888

[MrFreeRoMan]

Two kids accept bitcoins as a payment method in their small lemonade shop!
https://twitter.com/cryptomodel/status/1131300872170946560

[El duderino_]

It is BEST that we can do it alone! After this, you will become a higher level than yourself, and you will find that with your problems, you will always have to remain alone (this is a fact), but you will already be ready for this!
I think so.

Personally I find human beings a pain up the arse in all circumstances and if I was feeling down in the dumps the last thing I'd want is one sat in front of me attempting to empathise. I'd kick their head down the toilet and go off somewhere to be on my own.

Most people do not feel that way and that's fine.

I do feel you here, its with BTC, its with blackjack, roulette, sportsbetting or whatever, people always (when they are not involved in the action) wanna see the action cheering for you out loud, but F*** most of them want you to lose and hope you will not hit that winning number or whatever.........
Empathising when you lose or when its not going good.... I know those F***ers and can handpick every single one in my RL surroundings

Or when BTC drop hard, then they always ask how is that BTC doing ?? I didn't follow anymore but you good??

Those are the ones that one day will ask where did you get this and that and..... from

[El duderino_]

I also would instantly buy from many in here if there would be a collectible or something dumb that I like, but first when I visit collectibles I didn't know one member over there, so for that the trust was maybe something that helped me out....

That makes sense. But trust appears to be a weaponised penis measuring contest now, but no one knows where their penis is any more.

There should be trust per transaction. Anything beyond that is plain weird.

I can follow that what you're saying here..... Some are swinging trust to back others up etc....

But on the other hand if they are all good and don't scam, then not to much problems with me

[jojo69]

Running a 10 page WO deficit here, real life and all.

Sorry I'm not my usual gregarious online self at the moment.

I always say fuck it and skip the pages I have missed. No reason to dwell on the past, especially when all your missing is trolling and shilling (seriously the last 10 pages have been shit)

not the WO's finest hour, I'll give you that

[cAPSLOCK]

...the world is running on Ripple?

Bullet. Self-apply directly through cranial temple.

That's not a crypto future I want, the point is to not be constrained by banks and central authorities who print the shit Willy nilly, can reverse and freeze it. Fuck ripple

Yeah... I am very sorry for my terrible joke...  It would be like waking up into some alternate universe where Spock has a beard...