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

[HairyMaclairy]

Hey don’t bounce yet goddamit you can do better than that !

[El duderino_]

This is all tracking perfectly.  

We need to break down hard and make everyone shit their pants.  

Then we can bounce.  

Edit:   But bears need to do better.  We haven’t even challenged support yet.

Your Bakkt prediction is doing well actually.... Good one!

Now I will be curious for your Q4 pick as always

[bitserve]

This is fine.

That's what doggie in the fire is saying, too.

what a coincidence.

Yet he was right every time when referring to Bitcoin.

I don't see the room really burning down to its ashes, it's just some heat to clean out the weak hands.

[LFC_Bitcoin]

I’m not even remotely bothered about price action like this any more. Just use it to accumulate, even if it’s relatively small amounts.

Remember this? In retrospect it didn't matter much if you bought at $480 or $432. Keep buying the dips.

That was my first awful bear market. I was suicidal (not really but very sad).
NotLambChop was posting those memes every day, the evil bastard.

I was sitting on huge losses back then.

[_javi_]

Remember this? In retrospect it didn't matter much if you bought at $480 or $432. Keep buying the dips.

Indeed i have NLC's gifs burned in my retina. (Mostly the $480 one..)


If LTC is an indicator of whats BTC doing next,.. i guess i wont be checking prices tonight..  

[HairyMaclairy]

You deserve every dollar LFC #stronghands

[Biodom]

To philosophize a little:

I don't understand joe-schmoe thinking..  0% on savings he is OK, -1% he is OK, maybe -5-10% later..he is still Ok.
This is true for both people with and without college education.
Debt through wazoo..still OK.
I am curious as to what might change this thinking IF anything.
Perhaps critical thinking is simply gone from the vast majority of the populace.
If so, we will all sink together.

BTW, for the record, I never thought of bakkt being anything significant, at least at first.

[JimboToronto]

I did have a full body wax only three days ago

So you are now formerly-HairyMaclairy?

RegrowthMaclairy

Edit: RogaineMaclairy

Edit: FinasterideMaclairy

Hari (Krishna) Maclairy?

[HI-TEC99]

I’m not even remotely bothered about price action like this any more. Just use it to accumulate, even if it’s relatively small amounts.

Remember this? In retrospect it didn't matter much if you bought at $480 or $432. Keep buying the dips.

That was my first awful bear market. I was suicidal (not really but very sad).
NotLambChop was posting those memes every day, the evil bastard.

I was sitting on huge losses back then.

Well he/she isn't posting those memes any more, and today you are sitting on 20x more than you spent at those prices.

[soxxx]

To philosophize a little:

I don't understand joe-schmoe thinking..  0% on savings he is OK, -1% he is OK, maybe -5-10% later..he is still Ok.
This is true for both people with and without college education.
Debt through wazoo..still OK.
I am curious as to what might change this thinking IF anything.
Perhaps critical thinking is simply gone from the vast majority of the populace.
If so, we will all sink together.

BTW, for the record, I never thought of bakkt being anything significant, at least at first.

Because people have no comprehension of money or economics. I bet the majority of people don't understand what inflation is, what interest rates are, etc

They just pay their monthly bills and complain how broke they are, meanwhile spending zero time learning finance. Eventually people will realize it, I think in 50 years people will be shocked to find out that people took out massive loans to get a degree, but people will have to learn the hard way before that changes.

[LFC_Bitcoin]

You deserve every dollar LFC #stronghands

Thanks man

[JayJuanGee]

I’m not even remotely bothered about price action like this any more. Just use it to accumulate, even if it’s relatively small amounts.

I love it, its a win-win, if Bitcoin goes down I can accumulate a little more, if it goes up, my net worth goes up. Ill take this any day over going sideways!

I don't mind sideways.
I prefer up.
I will accept down (not like I have a choice).

We need to break down hard and make everyone shit their pants.  

Then we can bounce.  

Define hard.  


I don't like shitting my pants.  It reminds me of embarrassing periods of my childhood.    

[P_Shep]

I’m not even remotely bothered about price action like this any more. Just use it to accumulate, even if it’s relatively small amounts.

I love it, its a win-win, if Bitcoin goes down I can accumulate a little more, if it goes up, my net worth goes up. Ill take this any day over going sideways!

This is most likely weasels who were hoping to make profits by selling into a BAKKT pump losing their balls & unloading in panic.

Absolutely nothing to panic about. I’m sure we’ll end the week not much lower than this. It does make me laugh how weak willed some people are though.

Sooooo... We're NOT going to die?

That's a relief!

[JayJuanGee]

If LTC is an indicator of whats BTC doing next,.. i guess i wont be checking prices tonight..  

Did jo-squared put you up to this?  

Let me see if I can shortly / succinctly 'splained BTC price dynamic matters?

Here goes:

Snotty-nosed puppy tail LTC does not wag (or lead) king daddy BTC doggie  

[podyx]

[El duderino_]

meh

BAKKT is a giant nothingburger

[LFC_Bitcoin]

meh

BAKKT is a giant nothingburger

[HairyMaclairy]

Goodnight guys.  Have fun.  

Also Mic go to bed it’s past your bedtime.

[rebal15]

Use the following chart. You will sleep without worries. Lambie will dream $100K. LFC driving 2 Lambos at the same time. CZ slapping himself. Fillip selling BTC at $0.99M. JJG is transformed to a man.

[El duderino_]

1/ Pleased to present my paper on the Bitcoin Realised Value to Transfer Ratio (RVT Ratio). This supports
@woonomic
 providing live RVT charts on http://woobull.com.

The RVT Ratio is a high conviction counterpart and calibration for the NVT Ratio.

https://medium.com/@_Checkmatey_/the-bitcoin-rvt-ratio-a-high-conviction-macro-indicator-615b68715b77



2/ The RVT acts as a slower but higher conviction signal for block-space demand.

With the Realised Cap in the numerator and on-chain volume in the denominator, the RVT is more strongly tethered to the chain than NVT.

RVT is likely to retain stronger signal relevance over time.



3/ In the current market condition, the RVT + NVT pair have shown to pull back following a distinct drop in on-chain transaction volumes.

Part Tether migration.
Part exchange driven short squeeze.
Part Calm before the Bull.

The RVT dipped a toe < 10...The Bull is close...



4/ As always - data is sourced from
@coinmetrics
 community data set. The only website I have bookmarked twice...
https://twitter.com/_Checkmatey_/status/1176225394162327552?s=20
https://twitter.com/_Checkmatey_/status/1176225403113005056?s=20
https://twitter.com/_Checkmatey_/status/1176225412797599744?s=20
https://twitter.com/_Checkmatey_/status/1176225743824723971?s=20