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

[dragonvslinux]

poor mindrust.... 

Not necessary.

Look at the bright side, now I know how it feels to be over-invested.

This is true, there is a positive in this: knowing how much you want to be invested.

I'll be honest this pump still doesn't feel real to me. Yes I am sorry. Yes I fucked it up but that's how I feel.

Don't apologize, it was your decision and shouldn't concern anyone else.
Did you fuck up? Are we really going to moon, or just coming back down further?

I can afford to lose $50/weekly on btc. No more, no less. I don't care what will happen to it in 10 years. I can afford to hodl that amount forever. I know It is not going to make me a millionaire too. Again, I don't care.

This is a really good minset 

I guess dip buying made me greedy and greed is not good.

Greed made me lose control.

You want all and spend all then you lose all. That's what happened basically.

Lesson learned, I am starting over.

Greed takes over everyone, try not to take it personally.

Let's close that shitty topic now.

Ok. Take care.

[toknormal]

Earwig. Low.

7k incoming.

[ivomm]

I know what mindrust was feeling and don't blame him for that. I went through the same emotions myself in 2017. Luckily the bad decisions were compensated by the right choices I made. I shared them several times but mindrust did't see the solution to his problems. Ok, let me try for one last time.

1. The fear of the Tether: What can happen if Tether explodes? The worst thing is BFX to be closed. This exchange has become a cancer for Bitcoin in the last 2 years, so its closure would be for the better. Will there be some drop of the price - may be just for a small period of time. Back in 2017 I was surprised that the bank problems with Thether didn't influence badly the price. On the contrary, the price went from 1000 to 3000.

2. Is it possible for the price to go to 0? No, mathematically speaking this can't happen. Look at the orders of Coinbase - under $500 there are 3-4 mil bitcoins on the bid side. If you follow the sites with Bitcoin inflows charts to exchanges, you will see that each day between 10K and 50K normally are deposited into exchange wallets. During crashes like in Dec 2018 and 13 March 2020 there were peaks of 444K and 220K daily inflows, respectively. How on Earth this will fill the bids for 3-4 mil BTC?

3. What if it goes significantly below your main entry price? You have to keep some good reserve and have a plan for that. If your entry was $4K and the price goes lower, just wait up to 3 months. If the price doesn't return to your level, and you want to be cautious, wait for it to find the bottom. If for example BTC stays at $2K, buy at this point, so when the price returns to $4K, you will have some profit. If the price is lower than $1K, hey - this is every late investor dream - to buy at 3 digits! You may have over 50BTC with your reserve!

4. It is better to accept the loss of bitcoins and rebuy at 10-100% higher level than to be sorry one day. I rebought at 70% loss after my stupid sell at $2750. I didn't have a clue that the price will return twice to $3K in Sept 2017 and Dec 2018. But now I think this price range is very unlikely to be reached again, so it is not advisable to wait for such black swan events.

With these fears taking care of, you will feel happy whatever move Bitcoin makes. If it goes higher you will be happy your networth increases in terms of fiat. If it is getting low, you know a way out not by selling but by investing more. For this you need only to believe that Bitcoin will recover sooner or later.

Regarding the selling, this is a whole new topic. For starters, you may just make a plan like JJG suggested some time ago. It can also invole some buying back in case the price falls. I personally prefer to sell at my selling point the planned amount, and if the price falls to buy back my coins and withdraw the fiat profit in my bank. This is in case I don't need the bigger amount for some purchase. Anyway, feel free to explore further this plan.

[toknormal]

Barting back up the charts.

OBV on the 6-hour now shows only accumulation after that margin call asteroid hit. Will it get all the way back to 8k inside a weekly candle ? That is the question.

Notice that even when the price was still declining into the dip, the balance of the volume had already reversed and accumulation had begun.

[JimboToronto]

Good afternoon Bitcoinland.

Looks like the panic is subsiding... currently $6351USD/$9222CAD (Bitcoinaverage).

Hopefully everyone stocked up during this (possibly last) great buying opportunity.

Onward and upward. Go Bitcoin go

Most of us are in this scene long enough to have lived through at least one Halving. I cannot accept that anyone who's been through such experience would sell any amount of BTC now

I just missed the first halving but I got to enjoy the resulting bubble. I'd read my history about prior bubbles and knew the ensuing crash and bear market wouldn't last long.

Sure enough, it was less than half a year before we had another bubble and crash. Through both, I refused to sell a satosi (although I did spend a little on some ASICs and a spiffy BTC ballcap). Our renowned Speculation sub-forum moderator said it would go to single digits before reaching 3 digits again in the summer of 2013 but some of us knew better.

I took considerable heat from the trolls in 2014-5 for saying that 4 and 5 digits were inevitable while the negative Nellies were calling for double digits again.  It took a little longer this time but by the time the next halving had time to sink in we not only had our 4 digits back but 5 digits too.

Anyone with a brain who's been paying attention at all (and ignoring the so-called "experts", TA "legends" and other morons) can clearly see that 6 digits are inevitable within a year or 2 of the halving.

Selling just because of a silly black swan event panic is just plain stupid.

This was the time to buy.

[Patel]

This whole month reminded me of July '13.

Also, if you look on a log 6m chart, it looked like we were going to revisit the 3k's. I'm glad it was fast. Took about 2 weeks rather than dragging it on for months.

[Wekkel]

Going to sleep.

Please don’t crash again during the night, missing my buy opportunity 

[Last of the V8s]

[P_Shep]

Have the honour of witnessing all the halvings so far.

Can't wait to see what this one brings:)

[jbreher]

Coinbase's chief legal officer, Brian Brooks, is leaving the crypto exchange to become the second in command at the U.S. Office of the Comptroller of the Currency (OCC).

- https://www.coindesk.com/coinbase-chief-legal-officer-leaves-to-take-senior-role-at-us-bank-regulator

Intriguing.

[Elwar]

Does anyone remember the name of the TV show that came out about a decade or so ago where the US is attacked (China?) by something where everyone has to wear a wristband that kills you if you try to take it off or do something bad. In order to get food or leave your home you need to wear it.

Also...Hong Kong is making all travelers wear a wristband that helps assure you are self quarantined.

What color wristband do you want?

[xhomerx10]

I'm finally capitulating.  I can no longer withstand the enormous pressure to return home from my virus-free surroundings.  This town's only Chinese food restaurant shut down yesterday and they never close.  It's time to pack up and leave.  See you on the flip side.

I heard Wuhan has good restaurants .... 

Oh yeah!  ...and as an added bonus, there were no new cases of Covid-19 there today   While the gas prices are awesome right now, I'm pretty sure that drive would have voided my car's warranty and my medical insurance as well.

Yeah, go back home or wherever you would rather prefer to stay confined in the case of a full long term lockdown before it's too late. I am currently "trapped" in the wrong home because I can not move anymore without risking HUGE fines. Was waiting while putting my shit together till everything clarified... and restrictions tightened instead. Now I am only like 10km apart from where I would like to spend my isolation time and I can't go there. Frustrating.

 We had been keeping abreast of the news but things began to progress much more rapidly than we expected.  Early this morning, we got a text message from our government saying to get home asap because they were closing the border to all but non-essential travel.  Once we got the border, we were told to self-isolate for 2 weeks but it seems to be on the honour system.  We just managed to make it back to our preferred home.  Hopefully you won't have too much difficulty where you are.

[fillippone]

Does anyone remember the name of the TV show that came out about a decade or so ago where the US is attacked (China?) by something where everyone has to wear a wristband that kills you if you try to take it off or do something bad. In order to get food or leave your home you need to wear it.

Also...Hong Kong is making all travelers wear a wristband that helps assure you are self quarantined.

What color wristband do you want?

I am f*ked then. I have a Chinese wristband.
 
#meritislife: how to be notified on a smartband of merits and mentions

[strawbs]

So I have some information from a meeting of the French government, I have confirmed its authenticity. I'm not into spreading craziness, just putting it out there.

They are assuming 30-40% of their population gets affected. They are planning on a peak in June. They believe it is a single event, not seasonal.

They do not believe the EU will last another 5 years.

The key part is that they believe the economic outcome will be so bad that they will have to enact martial law. The discussion regarding this is that they will need to give special treatment to the families of the military because the threat is internal as opposed to external. So they will be asking soldiers to do bad things to its own citizens and need them to think about the well being of their own families as motivation.

Just an FYI, I'm sure governments are having similar discussions.

Here in Panama everything is fine where I live since we're so far away from the city. I stocked up for a couple of months and have a fishing pole.

The French riot at the drop of a hat. Or at a rise in the price of cheese. Zero chance they'd tolerate martial law.

[Elwar]

The French riot at the drop of a hat. Or at a rise in the price of cheese. Zero chance they'd tolerate martial law.

I hope this is true everywhere.

They just issued a level 4 Global Level 4 Health Advisory in the US calling all US citizens to return to the US.

[bitserve]

 We had been keeping abreast of the news but things began to progress much more rapidly than we expected.  Early this morning, we got a text message from our government saying to get home asap because they were closing the border to all but non-essential travel.  Once we got the border, we were told to self-isolate for 2 weeks but it seems to be on the honour system.  We just managed to make it back to our preferred home.  Hopefully you won't have too much difficulty where you are.

Good to hear that. It's important to be already where you want to be.

Here it started like that.. The "honour system" you mention... Then it all escalated from there and in 48 hours we were in full nationwide lockdown.

(Funny note: It sounds as we are talking about an alien invasion and how it started in different places of the world before it all felt apart lol)

I am good, it's my GF's house where I also live frequently and have everything I need. But I recently bought a house with plenty of land which would be the PERFECT place to completely isolate from the world no matter how long this shit lasts... and not being there, precisely when it would be like the fucking paradise, is frustrating me to... unexpected levels. Plus I had plans (before this lockdown) to keep on the renovations I was doing myself, the gardening, getting the pool ready, etc etc.... which would be the best and most productive way to use all my time now and give a shit about everything else. Being unproductive when I could avoid it is taking on my nerves.

Anyway... I am polishing a master plan that will put to work before next monday at most if they don't relax the restrictions.

[xhomerx10]

 We had been keeping abreast of the news but things began to progress much more rapidly than we expected.  Early this morning, we got a text message from our government saying to get home asap because they were closing the border to all but non-essential travel.  Once we got the border, we were told to self-isolate for 2 weeks but it seems to be on the honour system.  We just managed to make it back to our preferred home.  Hopefully you won't have too much difficulty where you are.

Good to hear that. It's important to be already where you want to be.

Here it started like that.. The "honour system" you mention... Then it all escalated from there and in 48 hours we were in full nationwide lockdown.

(Funny note: It sounds as we are talking about an alien invasion and how it started in different places of the world before it all felt apart lol)

I am good, it's my GF's house where I also live frequently and have everything I need. But I recently bought a house with plenty of land which would be the PERFECT place to completely isolate from the world no matter how long this shit lasts... and not being there, precisely when it would be like the fucking paradise, is frustrating me to... unexpected levels. Plus I had plans (before this lockdown) to keep on the renovations I was doing myself, the gardening, getting the pool ready, etc etc.... which would be the best and most productive way to use all my time now and give a shit about everything else. Being unproductive when I could avoid it is taking on my nerves.

Anyway... I am polishing a master plan that will put to work before next monday at most if they don't relax the restrictions.

   Sounds like you're in a good place and hopefully the restrictions will be relaxed soon.  If your master plan involves bribing someone to "kidnap" you and drop you at your new house, good luck!

[jojo69]

Idea: Now is a good time to have an "accident" and go off the grid completely. Sort of like all the gold bugs had a boating accident.

I like it

a lot of random about to happen, get lost in the noise

[smartcomet]

New technology : Big company

1980 computer : Apple, IBM, Microsoft, Oracle
1995 internet : Yahoo, Amazon, Google, facebook
2009 blockchain : Bitcoin,?

Neglect the price, get into the newest tendency.

10 years later, you’ll be rewarded for what you do today.
30 years later, you’ll be proud of what you do today.

[Biodom]

Not sure what 'accident' would accomplish. Nobody is taxing until you spend it anyway (unless it is mined and not purchased).
Besides, with new rules (in US) on ID-ing specific transactions it's even easier.
You can use "specific tx" in lieu of FIFO or LIFO (in my understanding).

Another anecdote: several people were reporting that their credit card limits were raised (CLI).
Usually I pay in full, so recently one card (which I set up to use for a small periodic payment) decreased the limit by 25% saying that I don't use it to the full extent possible.
Just an anecdote that they are decreasing limits as well.