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

[Biodom]

Covid-19 is affecting 109 countries and territories with 110.077 cases worldwide and 3.830 deaths.

This is just the beginning. Europe and the U.S are fcked. Global economy is also fcked.

Enjoy the shitshow, buy more corn and stay save!

No. Judging by the level of panic, markets would put a midterm bottom either tomorrow or by the end of the week.
^TYX will also put in a generational low in yield, could be tomorrow (since it looks like being below 1%) or sometime next week as well.
Someone would probably short Treasuries en mass soon. Gold says so.
We had a 38 year bull market in bonds, now (after next week) probably a bear market for the next 10-15 years until stocks trade at P/E of 7 and bond yield is at least 10-12%.

Then the bull cycle (at least in bonds) would begin anew.

[JayJuanGee]

This chart reflects the March 8 close on Bitstamp at $8033.70. 

Bitcoin does not close, and neither does bitstamp... 


 

[bitebits]

There may be 1000 people infected, but the recovery takes 2-4 weeks for most people (from the time they start to show symptoms). This means that it will take about 4 weeks for those 1000 people to register as "recovered", in the mean time many more people are infected. The numbers are always shifting. Both the deaths and the number of recoveries. You need to look at the infected numbers of weeks ago and compare those to the current death and recovery numbers to get the accuracy.

+1 Elwar. Would like to add that the infected/death ratio figures are probably way too high.  I felt sick a few weeks ago (probably just a cold) but it might have been Covid-19, who knows. Fully recovered without being tested or going to a hospital. Bitebits does not show up in the statistics.

[LFC_Bitcoin]

$7839

How much fucking lower are we going?

 

[Biodom]

$7839

How much fucking lower are we going?

 

focus on a bigger picture, IMHO.
BTC price by itself today is less relevant vs later this week and by the EOY.

[mindrust]

I am buying here some. I don't care if it goes lower. I can keep my sanity till it its $3k.

Why am I buying? Because I know for sure it will be back above $9k again. Might be tomorrow, might be next year but it will happen.

Vegeta will make a comeback.

$7750 btw fuck. MasterLuc is having a party.

[somac.]

$7839

How much fucking lower are we going?

 

Whatever it is, it ain't going to be good. I reckon 6500. Which is really not that bad considering last years low.

[somac.]

I am buying here some. I don't care if it goes lower. I can keep my sanity till it its $3k.

Why am I buying? Because I know for sure it will be back above $9k again. Might be tomorrow, might be next year but it will happen.

Vegeta will make a comeback.

Just think of all the printing the CBs will need to do to fix this mess. Next year we could easily be at 100k.

[Lambie Slayer]

Money printing on the way. 

https://www.forexlive.com/centralbank/!/morgan-stanley-expects-fomc-to-cut-75bps50-on-march-18-25-in-april-20200309

"Projections for the Fed:

50 bps rate cut in March
25bps in April
MS add that if recession:

Fed to cut to zero
& restart QE"

[mindrust]

The man is a fooking LEGEND...


https://www.tradingview.com/chart/BTCUSD/ME0DngUr-Short-term-analysis-ending-diagonal/

[JayJuanGee]

There may be 1000 people infected, but the recovery takes 2-4 weeks for most people (from the time they start to show symptoms). This means that it will take about 4 weeks for those 1000 people to register as "recovered", in the mean time many more people are infected. The numbers are always shifting. Both the deaths and the number of recoveries. You need to look at the infected numbers of weeks ago and compare those to the current death and recovery numbers to get the accuracy.

+1 Elwar. Would like to add that the infected/death ratio figures are probably way too high.  I felt sick a few weeks ago (probably just a cold) but it might have been Covid-19, who knows. Fully recovered without being tested or going to a hospital. Bitebits does not show up in the statistics.

I sneezed the other day... JJG does not show up in statistics, except as noted here in WO thread.   

[Searing]

Not looking good. I still think target is 6500 then maybe 200 weekly at 6. Not fucking liking this that's for sure. I much preferred 2016 but there wasn't a global crash going on then.

The problem is in a country like Italy ..in frigging full crisis mode...what are you gonna dump first? The easy to cash out, the speculative coin that you have made

a profit on since you mined/bought or acquired such? Or stocks or bonds or cash (not have) or whatever to fill up your very needed, and like all of us, empty

catastrophic/emergency fund?

Everything is falling in this Black Swan Pandemic effect.

My own 'bet' (dubious) is that IF the Stock Market 'manages' and the rest to somehow find a floor and go

sideways for a few days to a week, BTC/Crypto will bounce back harder, like the Plan B Alternative.

If, not BTC/Crypto is just another speculative asset and not

in any way a 'store of value' and we will be like everyone else, stuck in a HODL pattern for say, years until it recovers like the other speculative assets stocks, etc.

Sh*t that would suck! Doom or Boom and Chump or Champ time now boys and girls. Pucker up. This next week is likely to be the worst as that damn concept

of 'Reality' hits us right in the nuts.

I don't like what you're saying, but find it hard to disagree with you.

I re-read above, I did not like me or what I was saying much either....

What I should have been clear on ..IS if I am correct on the above...it is a temp thing...people will adjust have an emergency fund and adapt...then they will

look about and hell, it might take 6 months in the recession and go..hmmm....btc/crypto looks like a good buy now again....it is like any emergency I hope

first, you have to flush cash at the problem (liquidate BTC) and then you hoard the cash (in this case bitcoin) on the regrets that you had to splurge on

the emergency.

It is likely I am just making stuff up not to make myself feel better but ....hey...coping is as coping does.

I'm hoping easy-out with a reason, a black swan emergency,  will become an easy buy-in for the same reason that BTC/Crypto was liquidated so fast

....again for emergency reasons...in the future HODL..in case you have yet another emergency in the recession or for long term value.

again, likely I'm delusional from the pain today and just making stuff up on the fly to feel better about this cluster****.

brad

[UnDerDoG81]

Those whales use any reason to spread panic. Since 2014 in the game, used to this shit. Remember those times when China banned bitcoin 200 times and each time the whales spread panic about that...

[Lambie Slayer]

No need to act like panicking stock boyz who cry like babies at a 5 percent drop, Bitcoiners were built for big swings. Its all just noise on the way to 100k.

[kellrobinson]

This chart reflects the March 8 close on Bitstamp at $8033.70. 

Bitcoin does not close, and neither does bitstamp... 


 

The sun doesn't close, but it sets.

[JayJuanGee]

This chart reflects the March 8 close on Bitstamp at $8033.70. 

Bitcoin does not close, and neither does bitstamp... 


 

The sun doesn't close, but it sets.

Oooooo... touché.

[somac.]

No need to act like panicking stock boyz who cry like babies at a 5 percent drop, Bitcoiners were built for big swings. Its all just noise on the way to 100k.

Yes we are definitely going to 100k and this current global rout will probably even increase the speed that we get there. Money printing on the way.

[Lambie Slayer]

https://www.cnbc.com/2020/03/09/coronavirus-latest-updates-china-skorea-impact-on-markets-and-economy.html

"Following the discharge of most patients, 11 of the 14 makeshift hospitals in Wuhan that were built for treatment of the new coronavirus have closed"

COVBULL-19 is fizzling out in China. Spring is here in a few days, and this little flu bug is running out of nursing home patients to take out. There are only so many 90 year olds with diabetes, high blood pressure, an respiratory problems, for this thing to take out.

Everyone will look back in a few years and marvel out how nocoiners freaked out about toilet paper.

[Biodom]

The man is a fooking LEGEND...

not yet, or at least not on this call.

[Lambie Slayer]

This is the time Bitcoiners were meant to shine. This is where we show we have the strongest hands of all, formed by massive swings over and over through the years.

The other market participants are about to see how resilient we really are in contrast to their panic driven behavior. And when they do they will come in droves to worship King Bitcoin and follow his loyal disciples.