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

[LFC_Bitcoin]

Does anybody ever search bitcoin on Twitter?

There are some real retards on there. Reading through most of the tweets really makes me appreciate this place & you guys.

We really are still early adopters aren’t we. Some of the stuff on there, FFS, average joe really hasn’t got a clue has he?

Gotta follow the right ones bruh  

Not the average joe's

I’ve been really bored today. Even bitcoin is doing nothing atm. This is just like what happened before the last halving. We should start to climb upwards slowly soon.

I want to see some GAINZZZZ!

[1713993554]

1713993554

[1713993554]

1713993554

[Saint-loup]

[exstasie]

I already said I am not expecting (hoping, yes) any more 5x-10x in a single year anymore. In fact I would prefer if we reach the stage in which Bitcoin stops crazily overshooting and overdumping afterwards for a more "sane and healthy" price growth instead.

That'll only happen once BTC's speculative nature has generally been priced in. In other words, in the "late adopter" phase. After mainstream adoption, after dinosaur institutions are balls deep into crypto, etc.

Price and adoption are directly linked, so as long as most people/institutions haven't adopted it yet, it will continue being extremely speculative.

Exponential adoption necessitates exponential gains. The next bubble will melt your face off.

[realr0ach]

JayJuanGee, as a seasoned investigator and expert on most fields, another important question:  who killed Keith Ratliff?

https://www.youtube.com/watch?v=eeUg1rs_GgU

[xhomerx10]

Does anybody ever search bitcoin on Twitter?

There are some real retards on there. Reading through most of the tweets really makes me appreciate this place & you guys.

We really are still early adopters aren’t we. Some of the stuff on there, FFS, average joe really hasn’t got a clue has he?

Gotta follow the right ones bruh  

Not the average joe's

I’ve been really bored today. Even bitcoin is doing nothing atm. This is just like what happened before the last halving. We should start to climb upwards slowly soon.

I want to see some GAINZZZZ!

 That looks like JimboToronto.

[sirazimuth]

...

jsyk... I took the liberty to bump your post over to the Cryptsy thread . Hope you don't mind.

[whiteboy420]

what's the best crypto wallet for a windows desktop these days ?

i always liked electrum but looking for something new to play with.

[JayJuanGee]

JayJuanGee, as a seasoned investigator and expert on most fields, another important question:  who killed Keith Ratliff?

https://www.youtube.com/watch?v=eeUg1rs_GgU

I am starting to consider that you are not taking me seriously, roach.  

O.k.  I am going to revise the recommendation of my earlier post:  The portion after "Protip".

Let me put the matter to you like this:

Don't come whining to me, roach, with your dumbass lame questions regarding life matters or your purported ponderings regarding the motivations of people, governments or institutions until you buy back at least the dollar value of the BTC that you sold at $700 (and likely a bit more than the dollar value that you had sold).  

Once you do that and describe your measures or further plans in that direction, then we can discuss if you might need to take any additional steps to at least participate in a conversation that might contain "smart" advices or other sharing of information.  

If you at least take these preliminary steps, you will thank me later.

[becoin]

what's the best crypto wallet for a windows desktop these days ?

i always liked electrum but looking for something new to play with.

https://www.wasabiwallet.io/

[d_eddie]

Arthur Hayes on options. What is implied is that futures and swaps are better for traders: Bitmex is doing it right.
This is only an excerpt. The whole piece is worthy of reading.

https://blog.bitmex.com/when-options-part-1/

Strike one! Traders will always do what is easiest if they can generate the same return profile.

Crypto volatility is very high. We are currently in a low volatility regime and 30 day realised volatility is around 40%. When pricing an option, the higher the volatility the more expensive the call or put. Therefore, option buyers, the speculators, must post high amounts of capital to obtain convex trades. In order to be cheaper than the BitMEX XBTUSD perpetual swap, the most liquid crypto derivatives product, the premium must be less than 1%. That is not possible when the underlying asset has such a high realised volatility.

Strike two! Traders will always gravitate to the product with the most leverage.

Market makers, I haven’t forgotten about you. For every buyer there is a seller. Writing options is a tough business. If the volatility is high, margin requirements for writers of options will be very expensive. Market makers must be able to write naked options while quoting. Writing naked call options on an asset that popped 40% in a few hours when Xi Jinping mentioned the word “blockchain” is risky. As a result, the margining systems employed by various platforms are extremely conservative.

The same set of crypto market makers quote crypto delta one and options products. They must decide how to allocate their capital. If the option requires more capital due to margin requirements and has less flow because it’s less understood and offers less leverage, they will provide less liquidity. If the brave speculator turns up to trade an option and you can drive a Tesla pickup truck through the spread, she will hightail it back to XBTUSD.

Strike three, and you are out! Traders prefer the liquid to the illiquid derivative.

I hope you enjoyed a nice primer on the crypto derivatives market structure and why delta one products will be preferred to options by speculators.

[Icygreen]

Good morning,
Bitcoin looking like it caught a bid. Now at 8,245
Feeling ready for some action

[soxxx]

We have Bull Flag/Pennant breakout currently and it has a target of $8700.

[LFC_Bitcoin]

Woke up for a piss.

Observing $8,341.

Mini pump!

[soxxx]

Woke up for a piss.

Observing $8,341.

Mini pump!

We could be in for a wild night/week if this continues.

[LFC_Bitcoin]

Seems like a good time to re-post -

VEGETA GAME !!!!!!

$50 worth of BTC to one winner


Right, we’ve been under $9,000 for quite a while now. I think it’s time to PLAY ANOTHER GAME !!!!!!!!

Ok, this time I’m going to be clear on two rules -

1.) When the price crosses $9,000 on BITSTAMP you must post a Vegeta meme
2.) I also want a screenshot of the BTC price from BITSTAMP to prove it’s over $9,000

**If you post a meme but no screenshot - No win**

**You must post a Vegeta meme & the Bitstamp screenshot so I can verify the time of your post against when the price went over $9,000**


Thanks & good luck!

[eddie13]

Finally broke out of my downward channel lines just now..

End to the bear for a while now?
$10k in 2 months?

[bitserve]

I already said I am not expecting (hoping, yes) any more 5x-10x in a single year anymore.

I believe that I understand what you are saying, bitserve, but you better tone down the bullishness a bit.   

What I am suggesting is that two years in a row of 10x would still be a 100x, and even the most bullish of bitcoin prognosticators are not projecting anything like that... gosh that could put us in the $300k to $600k price range in two years (depending on foundational BTC price bouncing off point).

In fact I would prefer if we reach the stage in which Bitcoin stops crazily overshooting and overdumping afterwards for a more "sane and healthy" price growth instead.

Yes.. I recognize your rhetorical point.... In other words, you don't really expect a disappearance of bitcoin price overshooting.  I know that you are just making such world view assertions in order to fantasize a little.   

I didn't say anything about 10x two years in a row... and that's not how it works. Do a 10x one year and next one will just implode, as always.

I am referring that I don't expect 5x-10x in a single year.... Which is exactly what I wrote

2x? 3x? Maybe even 4x? Yeah, why not, in a very lucky year... much more than that and there you have another bubble pop and subsequent dump.

But... maybe that's exactly what will happen. Once more. But even if it does, there must be a point in which it doesn't do it anymore. And sooner or later it will come.

I already said I am not expecting (hoping, yes) any more 5x-10x in a single year anymore. In fact I would prefer if we reach the stage in which Bitcoin stops crazily overshooting and overdumping afterwards for a more "sane and healthy" price growth instead.

That'll only happen once BTC's speculative nature has generally been priced in. In other words, in the "late adopter" phase. After mainstream adoption, after dinosaur institutions are balls deep into crypto, etc.

Price and adoption are directly linked, so as long as most people/institutions haven't adopted it yet, it will continue being extremely speculative.

Exponential adoption necessitates exponential gains. The next bubble will melt your face off.

Even if I don't really expect it, I will really welcome it if it does

[bitserve]

Finally broke out of my downward channel lines just now..

End to the bear for a while now?

I would wait till $8.7K (or at least, clearly over $8.5K) to say so. So far so good.

[jojo69]

AYH

Yaaaaaay!

[jojo69]

seems to be hesitating a bit right at the highest possible interpretation of the channel top...