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

[Phil_S]

Someone in Tokyo woke up and started buying?

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[OutOfMemory]

Someone in Tokyo woke up and started buying?

Same thoughts here...
Started with a drop to support level, almost immediately bounced.

EDIT: the perfect bull trap? we'll see... (Triangle lines were not adjusted since about 24h ago)

[jojo69]

here comes the helicopter money

gold opens in 5 min, this should be interesting

[ivomm]

...

What do we think about the potential price direction this week, guys?

Last week Bitcoin surprised us in a bad way. Next week for a change I hope the surprise will be good for the hodlers. What I see now is that the support down to $3000 in the shitty Coinbase has increased to over 12 000BTC.  Of course, the main threat remains that people may continue to cash out next weeks especially if they are on unpaid leave. But, there is a very good news regarding that: in EU a sum of 37 bil euro will be distributed to the member countries (sorry UK ) to pay compensations  equal to 70% of the salary of each worker, who works for a private company that can't afford to pay the full salary during the lockdown. The news is from the last hours, and my country for example will receive 1.3 bil euro for that purpose. So I hope the panic will fade away and people will take advantage of this really low price now.

Edit. As I am writing a lil pump is underway. The pump started from $5170 and now we are at $56405800. Jeez, who would have thought in June 2019, when we reached 13 800 that only 2 months before the halving the price will be this and we will be happy about it... Phew, unbelievable!  

[hodl_2015]

Reducing reserve requirement to zero? Does it mean that bank can give unlimited loans when they have NO deposits?
That's a nice business to be in. Maybe I should re-fi my car loan or mortgage? They should give me 0%, right? /s

Yes, if you are customer of the fed, i guess. If not, it's up to the banks.
The EU central bank even had negative rates (2019 iirc), but the banks didn't pass that advantage to their end-customers.
So the banks made money by taking loans from the ECB, but the customers of the banks didn't get money for their loans.
Neither did they take money from depositors, maybe there were exceptions, but not that i'd know.

I received a letter from my Dutch bank a few weeks ago that they changed the TOS so they now have the option to charge a negative interest on all accounts. (was +0.01%) As far as I know, they already are doing this on commercial accounts. Denmark has been doing this for a long time and even has had consumer mortgages with negative interest rates.

[marcus_of_augustus]

this is is it peoples .... bitcoin's time to shine.

The world's going nutz, major volatility is everywhere. Bitcoin is the sewer rat that was raised in the swamps of volatility and uncertainty. Everything is bitcoin now, but only bitcoin is sovereign money.

Here. We. Go.

[OutOfMemory]

Reducing reserve requirement to zero? Does it mean that bank can give unlimited loans when they have NO deposits?
That's a nice business to be in. Maybe I should re-fi my car loan or mortgage? They should give me 0%, right? /s

Yes, if you are customer of the fed, i guess. If not, it's up to the banks.
The EU central bank even had negative rates (2019 iirc), but the banks didn't pass that advantage to their end-customers.
So the banks made money by taking loans from the ECB, but the customers of the banks didn't get money for their loans.
Neither did they take money from depositors, maybe there were exceptions, but not that i'd know.

I received a letter from my Dutch bank a few weeks ago that they changed the TOS so they now have the option to charge a negative interest on all accounts. (was +0.01%) As far as I know, they already are doing this on commercial accounts. Denmark has been doing this for a long time and even has had consumer mortgages with negative interest rates.

Interesting, thanks.
I only had banks of Austria for reference, forgot to mention that.

[LFC_Bitcoin]

@APompilano
The Fed just announced historic actions of emergency rate cut to zero and $700 billion in quantitative easing.

Stock futures just opened 5 minutes ago and they are already falling.

The market is basically calling the Fed's bluff...
https://twitter.com/apompliano/status/1239311910870364161?s=21

[marcus_of_augustus]

and tbh I'd rather have pandemic posts in here than that stupid fucking Vegeta game ... that can fuck right off into it's own thread please, thank you.

[Biodom]

@APompilano
The Fed just announced historic actions of emergency rate cut to zero and $700 billion in quantitative easing.

Stock futures just opened 5 minutes ago and they are already falling.

The market is basically calling the Fed's bluff...
https://twitter.com/apompliano/status/1239311910870364161?s=21

It's too early to tell, perhaps.
Now that my short term bonds will yield zero (in US), where to invest fiat?
No need to increase my btc yet [EDIT: oh, oh, btc is following SP500 futures after a spike].
Maybe zero is still better than a negative number?
Somehow, I don't really like gold as it always seemed to be manipulated by one party or another.

[HI-TEC99]

Now that my short term bonds will yield zero (in US), where to invest fiat?

In toilet paper.

[jojo69]

100x long popcorn

[Biodom]

Now that my short term bonds will yield zero (in US), where to invest fiat?

In toilet paper.

that's a 'short term' investment, lol (EDIT: depending on how much you buy, though]

[bitserve]

Nice ride! Let's do it again!

[suchmoon]

@APompilano
The Fed just announced historic actions of emergency rate cut to zero and $700 billion in quantitative easing.

If the Fed had to do THAT a few weeks into the crisis then obviously everyone's thinking "how much worse do they expect this situation to become".

All those money-printing bandaids won't help until the underlying reason is cured. I appreciate cheap dollars though, might come in handy for taking some cash out of the house before real estate prices collapse.

[lightfoot]

I was wondering why the screen light up in green few minutes ago.
Reducing reserve requirement to zero? Does it mean that bank can give unlimited loans when they have NO deposits?
That's a nice business to be in. Maybe I should re-fi my car loan or mortgage? They should give me 0%, right? /s

I was wondering that too. Technically it would mean infinite money, which is kinda cool.

But I'd wait till they are paying you at least 8% to take their shit money.

[marcus_of_augustus]

denial will take many forms ... down-playing the severity of the event in their own minds, like the MSM did for 6 weeks (to buy govvies time for stockpiling before their citizens), rage-quitting, pout-quitting, panic-buying, panic-selling, creating trivial distraction games (fiddling while rome burns), shouting(shooting) at messengers, la-la-la-blocking your ears, etc.

Make your peace with it, AS IT IS.

[El duderino_]

A lockdown today, is keeping El_duderino away 

Very quick word, but it’s something else keeping me away atm   

[jojo69]

what's good for the goose ...

[d_eddie]

...is good for the banter.