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

[JayJuanGee]

Master Luc didn't give us a price. He just pointed out the supports and resistances. Please learn to read charts.

%20 drop from 10k+ is enough for me to call him a legend.

It may go to 6k or not from here. I am happy with what I got. God bless him. Added some more cheap corn to my stash. Yay

Sounds like you are looking for a leader and a sorcerer to help you to feel good about ur lil selfie and to confirm the movement of bitcoin is knowable by some superior being.


Thank you Masterluc for providing us with this lovely BTC buying price..


Thank you master luc

Thank you.

[Lambie Slayer]

These misleading mortality fake news stats have caused school girl hysteria for the feint of heart.

Case fatality(percent of cases confirmed by tests that die) is a silly stat when you arent testing most people. Infection fatality(what percent of all infections lead to death) is the true mortality rate.

Little school girls and old women have been alarmed bc they couldnt process the difference between case fatality rate in an environment where govs purposely dont test everyone, and infection fatality rate which as shown by the Diamond Princess is low even for people 20 years older than the average person.

The true percent of all people who get infected that die is much less than 1 percent. Probably just double or triple a bad flu season.

King Bitcoin isnt for the weak, the foolish, the soft, or the naive. Shorters who dont cover at this peak of silly panic will be rekt.

[mindrust]

MasterLuc 2020!  

The only guy can beat Trump.

Update from,

Too easy.

This is getting serious btw.

There will be a huge move soon. Can't really predict the direction. Halvening vs Recession.  

*Going below the blue line is pretty much, $6k.

[JayJuanGee]

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.

Maybe global pandemic and a lot of the hoopla and hype about that can allow for the economy to correct, to some extent without having to engage in money printing?  If the global economy goes through a major correction, then it is merely blamed on a pandemic, and at the same time, there is an ability to reign in bullshit irresponsibilities in regards to various fiats, no?  Why does global pandemic automatically result in more currency printing when allowing a crash can actually accomplish similar kinds of corrective mechanisms that are actually needed in terms of allowing bubbles to play themselves out in free market kinds of ways, no?

I am not saying that bitcoin still would not do well in this situation, but I doubt that such a situation of a major correction in the fiat market (which seems to be far over due) automatically results in more printing, especially if there are many BIG players that realize that the overexuberance in money printing is way out of hand, anyhow.

It is not like everyone in the regular fiat world is stupid in terms of engaging in various strategies to attempt to continue to prop matters up and to allow some corrections to play themselves out, especially if such corrections are merely born by poor people, even though the status quo power players might get stuck in policies that are hard to get out of on a quite frequent basis.

For central banks, a correction is fine so long as credit (debt) is still being created by the private banks. If credit shrinks instead and hence the money supply with it, then we have deflation and that can not be tolerated for long. Deflation will destroy the modern monetary system and, governments and the institutions with it. Therefore, the CBs have to do what ever it takes to prevent this, and if they see credit creation decrease and even look like it is going negative they will print big time (and direct that printing where ever necessary) to try and get credit/debt going again.

To understand why a decrease in credit creation is so deadly is to understand how money is created. Hint, the CBs don't create most of the money (only the cash component) they instead generally create cash reserves. It is the private banks who expand our money supply (97% of supply is private bank money. Also peasants are only allowed to use CB money in form of cash not electronic). In short if private bank money is not being created (through new debt) nobody will be able to pay the interest component because there is not enough money in the system to do so.

So, this pandemic is a deflationary event, either through illness or panic, doesn't matter which. Therefore the CBs need to start printing those reserves up pronto to counter any deflation (contraction in private credit).

We can agree to disagree.  I just don't see the obvious link that continued outrageous levels of money printing is an automatic result of this, and I do see an economic slowdown as a possibility to reign matters in a bit.  

Sure, I am not saying that the powers that be, CB et al are NOT going to completely stop acting irresponsibly and even giving money away to the rich, but seems to me that global events (such as a pandemic crisis) can also create corrective opportunities that are more responsible than what the CBs et al would otherwise attempt to cause regular peeps and even the chinese to bear costs of the various earlier irresponsible of the money printers.

[Ibian]

Infection fatality(what percent of all infections lead to death) is the true mortality rate.

That's 12-50%. You are arguing against your own interests now.

[somac.]

These misleading mortality fake news stats have caused school girl hysteria for the feint of heart.

Case fatality(percent of cases confirmed by tests that die) is a silly stat when you arent testing most people. Infection fatality(what percent of all infections lead to death) is the true mortality rate.

Little school girls and old women have been alarmed bc they couldnt process the difference between case fatality rate in an environment where govs purposely dont test everyone, and infection fatality rate which as shown by the Diamond Princess is low even for people 20 years older than the average person.

The true percent of all people who get infected that die is much less than 1 percent. Probably just double or triple a bad flu season.

King Bitcoin isnt for the weak, the foolish, the soft, or the naive. Shorters who dont cover at this peak of silly panic will be rekt.

At this point the virus is no longer that relevant. In traditional markets, this initial virus sell off has now exposed all the band-aid fixes, and can kicks that CBs have been doing for the last 11 years. Today's (Asia's today) sell off is about these can kicks now coming undone. The virus was just the trigger, that's all, this thing has now morphed into another financial crisis just like 2008, and once again it is deflation that is scaring them.

[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.

Maybe global pandemic and a lot of the hoopla and hype about that can allow for the economy to correct, to some extent without having to engage in money printing?  If the global economy goes through a major correction, then it is merely blamed on a pandemic, and at the same time, there is an ability to reign in bullshit irresponsibilities in regards to various fiats, no?  Why does global pandemic automatically result in more currency printing when allowing a crash can actually accomplish similar kinds of corrective mechanisms that are actually needed in terms of allowing bubbles to play themselves out in free market kinds of ways, no?

I am not saying that bitcoin still would not do well in this situation, but I doubt that such a situation of a major correction in the fiat market (which seems to be far over due) automatically results in more printing, especially if there are many BIG players that realize that the overexuberance in money printing is way out of hand, anyhow.

It is not like everyone in the regular fiat world is stupid in terms of engaging in various strategies to attempt to continue to prop matters up and to allow some corrections to play themselves out, especially if such corrections are merely born by poor people, even though the status quo power players might get stuck in policies that are hard to get out of on a quite frequent basis.

For central banks, a correction is fine so long as credit (debt) is still being created by the private banks. If credit shrinks instead and hence the money supply with it, then we have deflation and that can not be tolerated for long. Deflation will destroy the modern monetary system and, governments and the institutions with it. Therefore, the CBs have to do what ever it takes to prevent this, and if they see credit creation decrease and even look like it is going negative they will print big time (and direct that printing where ever necessary) to try and get credit/debt going again.

To understand why a decrease in credit creation is so deadly is to understand how money is created. Hint, the CBs don't create most of the money (only the cash component) they instead generally create cash reserves. It is the private banks who expand our money supply (97% of supply is private bank money. Also peasants are only allowed to use CB money in form of cash not electronic). In short if private bank money is not being created (through new debt) nobody will be able to pay the interest component because there is not enough money in the system to do so.

So, this pandemic is a deflationary event, either through illness or panic, doesn't matter which. Therefore the CBs need to start printing those reserves up pronto to counter any deflation (contraction in private credit).

We can agree to disagree.  I just don't see the obvious link that continued outrageous levels of money printing is an automatic result of this, and I do see an economic slowdown as a possibility to reign matters in a bit.  

Sure, I am not saying that the powers that be, CB et al are NOT going to completely stop acting irresponsibly and even giving money away to the rich, but seems to me that global events (such as a pandemic crisis) can also create corrective opportunities that are more responsible than what the CBs et al would otherwise attempt to cause regular peeps and even the chinese to bear costs of the various earlier irresponsible of the money printers.

Fair enough. All I'm saying is that I think the reason you can't see is because you probably don't know what money we actually use and how it is actually created.

[Murat]

This was unexpected but I think this a very good opportunity to buy more Bitcoins!

Target - 7500~

[podyx]

Are we really gonna see an international market crash because of the virus?

It seems kinda fishy.

[Ibian]

Are we really gonna see an international market crash because of the virus?

It seems kinda fishy.

No, but possibly with the virus as the excuse.

[somac.]

Are we really gonna see an international market crash because of the virus?

It seems kinda fishy.

As I said above the virus is not relevant any more, it has just exposed all the shit out there in the market. The shit being all the crap central banks have fucked up since 2008 in an attempt to kick the can further. All these issues were here well before the virus, the virus has just been the catalyst this time around.

[JSRAW]

Are we really gonna see an international market crash because of the virus?

It seems kinda fishy.

No, but possibly with the virus as the excuse.

Another speculation....

One possible explanation of this dump..

Keyword : Plustoken
https://u.today/real-reason-behind-10-percent-bitcoin-btc-price-crash-revealed-by-analysts

Edit
Opinion/spec piece --when plustoken moved the 117m worth of BTC couple of days back
https://cryptoslate.com/chinese-scam-plustoken-is-moving-117m-in-bitcoin-research-firm/

More Old article : https://blog.chainalysis.com/reports/plustoken-scam-bitcoin-price

[Paashaas]

Single toilet paper roll sells for $1000

[Paashaas]

Are we really gonna see an international market crash because of the virus?

It seems kinda fishy.

Yes, enjoy the show.

[kellrobinson]

Single toilet paper roll sells for $1000

Toilet paper is the new shitcoin.

[Cryptotourist]

Especially if your ass is hairy.

Hey now

Yeah - thought about you,
when I wrote ass - hairy down,
sleepy to rhyme bro.

#

But honestly, the best thing is just being able to take a shit in under 30 seconds and require very little to no toilet paper.

Hey, as soon as I smell espresso brewing in the morning, I'm gone in like milliseconds.
3 baby wipes per shit confirmed.

[fillippone]

[hv_]

ooops

https://www.bloombergquint.com/global-economics/biggest-rescue-of-india-bank-will-deepen-lenders-funding-woes

was that related to the last news India might allow cryptos now ?

 

[hv_]

LoL - you think it's a joke

For me: segwit was just white toilet paper

Only BSV is worth the Satoshi  White Paper

 

[El duderino_]

This was unexpected but I think this a very good opportunity to buy more Bitcoins!

Target - 7500~

17500