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

[hung58bitcoin]

This whole thing where bitcoin price is following the stock market tells us one thing.

We need to shift the focus of Bitcoin from market and price to utility and actually using it as a currency.

Totally agree.  However, that's been the case for years and similar posts have been on this very thread since I started reading it in 2014. Unfortunately, the whole 'HODL until I'm rich' mentality has undermined the very purpose of BTC.

Oh, and can we finally put to bed the whole idea of BTC as a safe haven - whilst global stock markets face their worst day since the 2008 financial crisis, BTC tanks even more.  If BTC really was a safe haven, it would be mooning now. Gold still seems to be the haven of choice.

I totally agree with your comments. But I would like to add that the market value of cryptocurrencies is too small compared to the gold market or the stock market that has existed for a long time. The problem here is that the price of BTC or altcoins rise and fall with a huge margin compared to gold. So big investors feel insecure about their investments. Therefore, when the effects of COVID-19 epidemic spread more and more around the world, investors will be bewildered. They will withdraw investment money from the stock market, cryptocurrencies to invest in the gold market or withdraw cash to buy food in case they live in isolated areas due to diseases such as in Italy.

[mindrust]

May sound dumb right now but...

If this is called AIDS-FLU because it has some characteristics of HIV... does that mean Covid19 can also hibernate like HIV (or Herpes) and come on surface when your immune system is weak... or you are old?

(If that's the case it sounds  like they found a way to sustain social security system infinitely... by killing the weak)

[hung58bitcoin]

May sound dumb right now but...

If this is called AIDS-FLU because it has some characteristics of HIV... does that mean Covid19 can also hibernate like HIV (or Herpes) and come on surface when your immune system is weak... or you are old?

(If that's the case it sounds  like they found a way to sustain social security system infinitely... by killing the weak)

I  don't think so because of some of the following reasons. First, according to scientists, the COVID-19 virus has the same genetic sequence as the SARS virus. So the mode of transmission is almost the same as the SARS virus. Secondly, there is a lot of clinical evidence that has been recorded in many deaths in people who are completely healthy and aged between 30 and 40 years old. For example, the doctor who treated at Wuhan Hospital died of the COVID-19 virus with no background diseases such as hypertension and diabetes as in the elderly. In short, scientists around the world do not fully understand the mechanism of action and how to destroy this virus. And at least 1 year to get the vaccine to prevent this disease.

[serveria.com]

Time to attack 8k  

Very bearish, coming from youteasing
I thought it was time for Vegeta.

It seems we found strong resistance overnight, on the 3 pages/hour mark.
Anyway, going strong with the WO doubling, approaching on May.
The previous ATH of 9 pages/hour should seem like a blink.

Yeah, bearish mood today man    Vegeta is also just around the corner btw...  and all is well as Lambie would say...  

P.S. Just realized this is my 1000th post on Bitcointalk (party) 

[HairyMaclairy]

I thought we would have slipped under the fractal now. Good to see that we’re relatively where we should still?

I would have thought so too, but bizarrely we are exactly on track. 

[Majormax]

- Italy reports 1,797 new cases, bringing total to 9,172 as deaths increases to 463.

This is really, really bad. That's a 5% death rate. However as we discussed a few days ago, it takes a while from people getting sick to either dying or being cured. With a doubling time of a week (6 days) and 2-4 weeks from getting sick to whichever conclusion, we are looking at at least a 20% death rate. Possibly more but I won't venture there at this time.

In addition to this, you can get reinfected and the next round is worse.

In addition to this, there are reports that even if you are cured there is a risk that you will end up with pulmonary fibrosis which gives people a life expectancy of 3-5 years.

This thing could literally wipe out half the planets population if any of this is halfway accurate.

That is one way of looking at it: you quote the case/death ratio.  The actual infection numbers could be a lot higher, with large numbers of mild unreported infections. That brings the infection/death rate way lower. There is just insufficient data on this atm, to make much judgement.

I agree about the reinfection issue. It does seem like this is going to be a new , novel disease which is going to be a threat to human population indefinitely into the future. We will just live with it, like all the other diseases.

The biggest effect will be a modification of behaviour. More social distancing. Probably a reset of the financial system/economy to take account of many things, including new paradigm for the aged : healthcare, pension, deathrate.  Some big changes and very hard decisions here.

Anyway, that is looking far ahead: there is a long crisis to go through first.

[Paashaas]

Covid-19 will not fade away during spring and summer.

Covid-19 will not suddenly disappear after economic stimulans.

[Last of the V8s]

How's your bottom now, Hairy?

[Majormax]

Coronavirus is bullish for the King.

Obviously not..

You guys still think china virus is bullish?

What happened? Why are we following the DOW instead of the inverse?

Is Bitcoin just a luxury?

No, x3.

1.  This is spawning a liquidity crisis. BTC is getting liquidated along with other assets.

2.  The world is entering a deflationary phase. All asset prices can fall, including BTC.

3.  The medium/long term (2-3 years) trend is down, so that is the natural bias.

4.  On a Positive note, it is a good indication that 6500 has not yet been tested.

5. 1BTC = 1BTC.

[vapourminer]

Everybody start panicking right now. This is not a drill.

i do panic test runs all the time. so should do ok at a real panic.

in fact i dont think ive ever left panic test mode.

[mindrust]

Coronavirus is bullish for the King.

Obviously not..

You guys still think china virus is bullish?

What happened? Why are we following the DOW instead of the inverse?

Is Bitcoin just a luxury?

No, x3.

1.  This is spawning a liquidity crisis. BTC is getting liquidated along with other assets.

2.  The world is entering a deflationary phase. All asset prices can fall, including BTC.

3.  The medium/long term (2-3 years) trend is down, so that is the natural bias.

4.  On a Positive note, it is a good indication that 6500 has not yet been tested.

5. 1BTC = 1BTC.

The question is... will they QE to cancel liquidity crisis?

Here is another quick algorithm:

Code:

def tothefuckingmoon():

    QE = input("Is QE happening? (true-false)")

    if QE=="true":
        print("QE will cause hyperinflation... hyperinflation will send Bitcoin to the...")

    else:
        print("Banks will run out of money because of the negative interest rates. Liquidity will dry out."
              "People will run to the Bitcoin as an alternative and bitcoin will go to the...")
        
    print("FUCKING MOON")

tothefuckingmoon()

Can't lose with bitcoin.  

[vapourminer]

Fucking banned from Twitter for 7 days. Used the new meme "OK groomer" against a well-known Twitter paedophile, and I'm the one banned for "hate speech".

San Francisco needs to fall into the ocean already.

thats.. wtf

i may have found a new hobby.

[vapourminer]

I wish I'd been informed about Bitcoin before January 2013. I'd be rich now instead of merely comfortable.

It is difficult to know for sure.

When I looked into bitcoin in November 2013, I had heard about bitcoin earlier, and I even had it book marked as "something to look into", but I am not sure how much I would have been willing to put into it when it was more difficult to do.  There was certainly some kind of legitimacy that came to bitcoin with the market increase in late 2013.. and subsequent market increases (such as 2015-2017) gave further validation to bitcoin.

when i heard about it in 2011 i already had machines doing F@H and such so was familiar with those types of builds. so my game machine was my 1st miner and i could immediately start generating coins.

so my perspective is different from those who bought strictly as an investment. i was playing with a new toy, and coins were the plaything. purpose was to test and beat the snots out of it. try all the different wallets (well the 3 or so then) etc. so while i had a lot of coins (compared to some, but dwarfed by others here), im not rich. those coins were used. not hoarded.

had i kept them.. hey that would have been cool. filthy rich instead of merely very comfortable. but all of it changed my life for the better.

[LFC_Bitcoin]

Back to over $8,000.

Currently observing $8,063. Who sold at the bottom?

My factory in China are shipping again & they said the epidemic is coming to an end over there. I don’t know if their media & news channels have said anything that we won’t know yet but it must be good news. Her English isn’t great so I couldn’t get great detail out of her.

[heslo]

Back to over $8,000.

Currently observing $8,063. Who sold at the bottom?

My factory in China are shipping again & they said the epidemic is coming to an end over there. I don’t know if their media & news channels have said anything that we won’t know yet but it must be good news. Her English isn’t great so I couldn’t get great detail out of her.

Fingers crossed... for everyone involved!

I've got a trip planned in October for the US Grand Prix and I'll be very pissed if everything is still fucked by then


Some positive action on the price currently, I feel the worst might be over but considering the current climate who really knows

[Phil_S]

I knew the dip under $8000 would be short-lived!



And where are the all the "geniuses" who predicted $6000?

[JSRAW]

Who sold at the bottom?

Hard to find such user in this part of the forum.. question should be who bought the dip or who missed it, again?

[LFC_Bitcoin]

Who sold at the bottom?

Hard to find such user in this part of the forum.. question should be who bought the dip or who missed it, again?

I thought about it but I’m literally over 90% of my net worth in BTC so going to leave $xx,xxx in fiat.

I've got a trip planned in October for the US Grand Prix and I'll be very pissed if everything is still fucked by then


Some positive action on the price currently, I feel the worst might be over but considering the current climate who really knows

I’m assuming you’ll be absolutely 100% OK for a trip in October.

[heslo]

Who sold at the bottom?

Hard to find such user in this part of the forum.. question should be who bought the dip or who missed it, again?

I thought about it but I’m literally over 90% of my net worth in BTC so going to leave $xx,xxx in fiat.

I've got a trip planned in October for the US Grand Prix and I'll be very pissed if everything is still fucked by then


Some positive action on the price currently, I feel the worst might be over but considering the current climate who really knows

I’m assuming you’ll be absolutely 100% OK for a trip in October.

I say I will too, but so much fearmongering going on at the moment it's ridiculous

[Ibian]

May sound dumb right now but...

If this is called AIDS-FLU because it has some characteristics of HIV... does that mean Covid19 can also hibernate like HIV (or Herpes) and come on surface when your immune system is weak... or you are old?

(If that's the case it sounds  like they found a way to sustain social security system infinitely... by killing the weak)

Not how it works. Chlorine is deadly, but ordinary salt is partly made up of it. Just because the virus has some of the same components as HIV does not mean it shares its characteristics.