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

[bitserve]

Oh I just remembered today comes out the fourth episode of Chernobyl. Awesome mini-series!

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[JayJuanGee]

I wonder how all those dopes who sold at $3xxx feel now? I mean, how dumb do you have to be to see the preceding pattern and still sell at an 80% discount to the ATH?

Last year I introduced Bitcoin to a couple of frends of mine. They bought at $5~6k and sold it all at $3k because, "it's not going anywhere mate"...

People tend to expect an easy gain, and freak out when it drops below what they paid to buy. They neither understand the underlying mechanism, nor do they have the patience to HoDL. They just want a quick profit, and that's exactly why they are the losers of the game.

HoDL!

Hahahahahahaha

Sounds a bit typical, and seems that it is fair for us, here, to make fun of those kinds of folks who are so short-sighted, little ability to remain patient and too willing to buy into the mainstream FUD that bitcoin is either dead or "not going anywhere" as you quoted them to be saying.  Dumb fucks.

I had an in-law that did a very similar thing and made some similar comments to me.

In early 2018, I bought something from him, and I suggested that I would pay him by bitcoin.  The item was a bit over a $100, and the then BTC price was then a bit more than $7k.

I told him that it was likely that he was in a good position, as long as he would be willing to HODL the bitcoin for a few years.  When bitcoin hit $8k, I asked him how those bitcoins were doing, and he went on some kind of rampage that he would have had to sell them at $8k in order to make a profit (which was stupid-ass far from the truth), and that he sold them in late 2018, and bitcoin was his only "loss" for the year.  He said that it was a good thing that he had some losses to off-set his other gains, blah blah blah. 

Anyhow, there is only so far that you can go with those lacking insight and patience, at least in regards to giving any kind of benefit of the doubt to bitcoin - even as a kind of non-correlated hedge... It just might not sink-in, especially if they are already decently established in other mainstream investments and their investment advisors (and peers) are telling them how much bitcoin sucks (of course, investment advisors cannot make fees off of the vast majority of the bitcoin products, especially the buying directly approach to bitcoin).

[El duderino_]

^^
I just did much of drinking with it, was my bday 9 course menu accompanied with wines, pre had some champagne and gin....

I can said that weed had me exactly where it wanted to PUKE all over that 3* restaurants terrace

I'm sure that chef will not forget me and company..... yeah I know shame on you Mic going such a place smoking weed there, ruin the terrace etc i'm a savage from time to time

Never smoke weed when you are already drunk. Every time I did, I ended up puking. When you smoke after heavy drinking, it's like when you close your eyes and everything goes spinning. With weed it feels even more intense.

Try the herb when you are sober, you should be fine

The main reason = i'm no smoker @ all and I don't do weed either, just wanted to be fun and it end UP with me crashing and everyone else laughin and enjoying there dinner that time, while I was laying face down on that terrace.....

[Arriemoller]

So, you are saying sideways from now to halvening?

Badger is a bad tempered drunk driver, prone to fits of road rage.

I don’t tend to worry about what he does in the short term as long as he gets home at the end of the night.  The halveninng is just a signpost by the side of the road to let us know badger is heading in the right direction.  

Have you ever tried politics?

[lightfoot]

*yawn* 8700. Blah.

[dungp3132]

Dominance:
Bitcoin Dominance has fallen, and altcoin dominance (in total) has increased after falling to their bottom range after their lates spikes.

[JayJuanGee]

I have put buy orders in the mid to high 6,000s (why so low?) I am remembering the bear market and if it taught me anything was that there would be a dip  a rally to lower than previous price point calm and a dip lower .

We are in reverse, bears had that low 6s dip and now it's gone higher than previously. They'll dip again but it won't reach previous lows and we will run higher than 8900.

Seems like you are putting a decent amount of reliance on your downward BTC price trajectory, which may or may not happen, prior to BTC going past $10k.

Hopefully, you are not betting too much on the downwards direction and that you are willing to leave those bets behind in case they do not fill.

I will admit that I currently have BTC buy orders down to the upper $3ks, but I could give too ratts' asses whether they fill or not.  Surely, you are correct that the odds for the buy orders filling are much greater the higher that you have them set, and each of us should always be prepared psychologically and financially for either BTC price direction, including surprises and overshooting. 

So the fact that you are disclosing to us that you are prepared for DOWN causes me to question your level of preparation for UP.   Preparing for either direction seems to be the most prudent approach, even though it might seems less profitable than making BIGGER bets in one anticipated direction or another.

[JayJuanGee]

I have put buy orders in the mid to high 6,000s (why so low?) I am remembering the bear market and if it taught me anything was that there would be a dip  a rally to lower than previous price point calm and a dip lower .

We are in reverse, bears had that low 6s dip and now it's gone higher than previously. They'll dip again but it won't reach previous lows and we will run higher than 8900.

I suck at programming but here is my take: :p


If ever hits $6k, again;
I'm instabuying 0.3BTC

elif BTC hits $5k;
me buys another 0.5BTC

elif BTC hits $4k;
me buys 1 full BTC

else;
Keep DCA'ing.

exception   : sell some when it hits $50k
exception 2: sell some more when it hits $100k
exception 3: no matter how much you sell, always keep some in case it goes even higher

Mindrust, your tentative sell plan does seem to wait for pretty decently damned high prices before you sell any, and in case BTC prices do not hit such high levels, I hope that you are prepared for those kinds of price dynamics, too.

Furthermore, I would add to your plan outline that you (and anyone else) should be planning and preparing to keep some dollars, just in case the BTC price goes lower than your expectation levels.  It might not, but better to be prepared, than not.  That is my thinking, even though I know that others like to gamble a bit more than me and to even go all in at various price points.

[JayJuanGee]

9600 by next week boys.

10k will be a strong psychological border, if we break up i would say we are officialy in bull market again lol

Too late.

We already are in a bullmarket.

Been a few weeks now that such transition took place.

A few weeks? We've been in a bull market all year.

Reasonable market assessments do not work like that.

Yeah, retrospectively, you can search for the bottom, including identifying the mid-December 2018 low of $3,122, but you cannot really rest assured to make an assessment that the transition from bear to bull has taken place until you reach a certain level of confidence that the bottom is in.  

I will argue that if you were arguing that the bottom was in at the beginning of this year, then you were either premature, presumptuous or lucky.  I could give two ratts' asses if you happen to be right, you were still making the call too early.

I will concede that reasonable people will conclude that the bottom is in at differing times and still be reasonable, even if their opinions differ on that particular point.

[edited out]

All year? We´ve been in a bull market since 2010.

 

Actually, I would proclaim that is another reasonable way of looking at the matter, even though that kind of an assessment seems to look more at the long term and to gloss over shorter periods, which sometimes those shorter periods of down can take a decently long period of time to play out.  For example, some bitcoin down periods have taken 3 years before they have gotten back to previous prices, which can feel quite brutal for those who are not playing the market well, taking chances and neither dollar cost averaging, buying on dips to accumulate nor HODLing sufficiently.

[Flying Hellfish]

Hello WO thread!

One of the regulars here said I should stop by and say hello.  I'll be honest though some of you lot scare the shit out of me!!!

[bitserve]

Hello WO thread!

One of the regulars here said I should stop by and say hello.  I'll be honest though some of you lot scare the shit out of me!!!

Welcome!

Please don't be afraid of JJG. He barks profusely, but don't really bite and is usually somewhat kind in its own way.

Enjoy!

P.S.: The rules are simple, don't ever feed the trolls (nor JJG on thursdays?). I think there was some about jbreher on wednesdays but not sure if that did stick.... anyway, remember that only Bitcoin (BTC) is the true Bitcoin and all will be smooth.

[Last of the V8s]

Hello WO thread!

One of the regulars here said I should stop by and say hello.  I'll be honest though some of you lot scare the shit out of me!!!

more https://imgur.com/gallery/NIqhh0t

[Biodom]

Oh I just remembered today comes out the fourth episode of Chernobyl. Awesome mini-series!

Awesome as a show, horrible for what could have happened (mostly described in the second episode, but maybe more news in the fourth).
The history could have changed and all (apparently) depended on a few man acting in almost complete darkness walking in the chest high contaminated water.
Beats GOT, though, as the s-t is real.

[Last of the V8s]

Oh I just remembered today comes out the fourth episode of Chernobyl. Awesome mini-series!

Awesome as a show, horrible for what could have happened (mostly described in the second episode, but maybe more news in the fourth).
The history could have changed and all (apparently) depended on a few man acting in almost complete darkness walking in the chest high contaminated water.
Beats GOT, though, as the s-t is real.

Still can't even trust the lambs in some parts of Wales.

[LFC_Bitcoin]

Hello WO thread!

One of the regulars here said I should stop by and say hello.  I'll be honest though some of you lot scare the shit out of me!!!

Great to see you drop by. There is one rule about the WO, don’t talk about the WO

[Oyarebu]

Hello WO thread!

One of the regulars here said I should stop by and say hello.  I'll be honest though some of you lot scare the shit out of me!!!

Welcome!

Please don't be afraid of JJG. He barks profusely, but don't really bite and is usually somewhat kind in its own way.

Enjoy!

P.S.: The rules are simple, don't ever feed the trolls (nor JJG on thursdays?). I think there was some about jbreher on wednesdays but not sure if that did stick.... anyway, remember that only Bitcoin (BTC) is the true Bitcoin and all will be smooth.

Hahaha.... have actually noticed that long ago. He's more friendly than you think   , together will sail with Bitcoin..... enjoy your day.

[El duderino_]

Hello WO thread!

One of the regulars here said I should stop by and say hello.  I'll be honest though some of you lot scare the shit out of me!!!

Well hello.... Sir, do know this is a very kind and fun thread, where we HODL together, Cheer together, (the knowledgable discuss together, I observe those situations), meme-gif together, just make some good moments together........ Also do don't mind the resident TROLLS : r0ach, Gembitz, rebal15.... just some noise in here.

for the rest we also do the



together

Now back to BTC, PLEASE;

[JayJuanGee]

I have put buy orders in the mid to high 6,000s (why so low?) I am remembering the bear market and if it taught me anything was that there would be a dip  a rally to lower than previous price point calm and a dip lower .

We are in reverse, bears had that low 6s dip and now it's gone higher than previously. They'll dip again but it won't reach previous lows and we will run higher than 8900.

Seems like you are putting a decent amount of reliance on your downward BTC price trajectory, which may or may not happen, prior to BTC going past $10k.

Hopefully, you are not betting too much on the downwards direction and that you are willing to leave those bets behind in case they do not fill.

I will admit that I currently have BTC buy orders down to the upper $3ks, but I could give too ratts' asses whether they fill or not.  Surely, you are correct that the odds for the buy orders filling are much greater the higher that you have them set, and each of us should always be prepared psychologically and financially for either BTC price direction, including surprises and overshooting. 

So the fact that you are disclosing to us that you are prepared for DOWN causes me to question your level of preparation for UP.   Preparing for either direction seems to be the most prudent approach, even though it might seems less profitable than making BIGGER bets in one anticipated direction or another.

I only have my day trade stash ($500 or so ) for down. The rest of my btc isn't moving. I decided to up my buy orders to 7.3 ish for a majority.

Well, don't get me wrong, I am selling BTC in small portions all the way up, but I never make any BIG moves, and of course recently, BTC prices have mostly been going up (especially once the price broke above $4,200 on April 1), so I have not had too many opportunities to buy back... except the one dip a couple of weeks ago that we had down to from $8,200 to $6,200 - and that dip did not reach that $6,200 level on all of the exchanges... so fewer buy back on the exchanges that only dipped down to about $7k.

So, yeah, we could have more dips like the $6,200 dip, but sometimes, there is a kind of upwards price pressure that wants to continue to punish the shorts that continue to come in, and therefore, having a dip like that could stave off some further dips until it is no longer as profitable to punish shorters. 

So, yeah, if you are only hedging with a portion of your total BTC, then you are likely decently prepared for either BTC price direction, and not just betting in one direction that might not play out.

[jojo69]

Hello WO thread!

One of the regulars here said I should stop by and say hello.  I'll be honest though some of you lot scare the shit out of me!!!

if your visit brings a shitstorm of chinglish sig-campaigners and metatards down on us so help me man...

[LFC_Bitcoin]

Lol @ mic!
Fuck man, don’t ever change. You’re a legend, mate.