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

[alevlaslo]

[1715118723]

1715118723

[1715118723]

1715118723

[Biodom]

I was thinking yesterday quite a bit...about whats going on in the world and specifically about bitcoin and its current price action. All of a sudden I had one of those moments of clarity that you strive for but so rarely come across.

I was thinking about the price correlation between bitcoin and legacy markets and all the negative economic news that will be coming down the pipe over the next 6 months as the world adjusts to post covid-19. I started to think about what if bitcoin was unable to de-couple and gets dragged down in the huge inflation crisis that is already baked into fiat and has been exacerbated by this pandemic. I wondered what my reaction would be if bitcoin fell below $5k...and kept falling...down to $3k...and maybe..maybe it got really bad...like total collapse..how would I handle it?

Thats when I had the epiphany. I realised that even if bitcoin fell down to $1k...or less...even down to $100 dollars..I would continue to do what I have been doing for the last 8 years...keep stacking sats. Then the moment became crystal clear for me..even if the price tried to go to zero..it never would. And when I say never...I mean that...bitcoins value will never be zero. If it drops down to a dollar or less...I would buy as many as I could...if it kept dropping..I would buy all of them. Yes...all the coin..I would scoop them up just to have them..just to say 'Look at me!  I have all the coins now!  I win!'

Now..maybe this is a character flaw...maybe Im a little bit nuts..but hand to God..in that moment of clarity..I knew it to be true...without a shadow of a doubt.

Then my keenly focused subjective reality expanded outwards...and I thought...'Well sheeeit'...there are at least 20 to 30 other crazy mofo's that I know personally who probably have the same plan. They will be trying to scoop up cheap coins by the bucket load if ever the price really tanks..its just not going to happen, I wont be able to get all of them...dammit.

The profound sense of relief that rushed through me was almost indescribable and was followed by a relaxed sense of euphoria that is still reverberating throughout my soul.

As the moment faded..more thoughts poured through my head. Out of the 8 billion people on this planet..I wondered if 21 million of us could or ever would put the value of a bitcoin at 7 figures or higher. Could there be enough other crazy ass fools out there who would pay almost anything to keep at least a million of their wealth secured by a bitcoin. I felt the answer shift from possible..to probable...and then to likely on large time scales. In terms of decades it seems almost certain...and with how things are going...maybe sooner.

Just my two sats for the day.  #dyor
tc

#stronghands

That's a very good fundamental analysis. The only thing that I would say to this is that you don't really know since you are not in that situation and, hopefully, never would be.
For all current disbelief, almost everyone can be in a "mindrust state" (sorry for the pun) IF the price change is catastrophic. It is somewhat easy to discuss this during a strong rally, but I know myself well.

I could possibly hold to a very low number, but ONLY if I already took profits that cover my initial investment. That part in non-negotiable for me after I essentially lost a large (for me) account during the 2001-2002 crash. Bought some very speculative stocks on a small margin and as these stocks were cratering, I had to sell EVERYTHING so my account had some positive value (and not negative). That was a lesson to NEVER invest more than 20% (usually just 10%) of my portfolio in anything at ALL. 20% is a mechanical rule. I promised myself never to exceed it. In fact, when something does approach 20%, I eventually take profits so invested [$$-profit] approach 10% (or even lower) back from 20%. I do let profits run otherwise, don't care what % of the overall portfolio one item represents aka no rebalancing. The 10-20% rule only refers to the original investment.

[bitebits]

[BitcoinGirl.Club]

I love Wednesday's

Wednesday fuck. I lost some corn in Poker just 10 minutes ago. Feeling fucked however when I checked preev I feel better now.
Observing @ $8,481

[VB1001]

And $8,555  

[BitcoinGirl.Club]

How fucked you will feel after this?

The guy had QQ and I had KK33 two pairs in the flop! I knew there is a little chance to have a flash in the flop since there are three diamonds already but how the fuck is going to know that the other guy was just relaying on QQ and called my big bet! Even in the trun I was still in the game and placed bet again. He called again. Still he was relying on only QQ but in the river he got fucking luck and I am out!!!

Fucking luck never been with me in this gambling game. Not in sports bet, not in other casino games and lately in this Poker things too! Fuck poker!!! I am out now. No more corns go out from my wallet from this point except if there are any bitcointalk tourney is out there.

[bitcoinPsycho]

Skimmers rekd

[hodl_2015]

Just crossed 1%/day over last 30 days. Typical bitcoin slow clime would be around 2%/day, so maybe another week before we go parabolic.

[jojo69]

/raises eyebrow/

[bitcoinPsycho]

$9000 in one hour

[Toxic2040]

re: mindrust


Hodling bitcoin is a deeply personal thing and I dont like telling people what they should or should not do. Each of us need to assign their own value to bitcoin and then manage the risk/reward in their own way. 


@mindrust

I dont care for the bashing..whether it earned or not..just want you to know that mindrust. I hope things are going well for your and yours..and I hope that your financial situation is causing you less stress these days. Nothing is worth feeling like that..its really not.
 
Also I wanted you to know that once you stand at the Wall..you always stand at the Wall. Period.

[psycodad]

My eyes hurt from these huge dildos, but probably I am holding it wrong.

[Last of the V8s]

treehuggers

[Wexlike]

We're back in the spotlight, baby!

[aesma]

Crazy pumping action today !

[mindrust]

That's a very good fundamental analysis. The only thing that I would say to this is that you don't really know since you are not in that situation and, hopefully, never would be.
For all current disbelief, almost everyone can be in a "mindrust state" (sorry for the pun) IF the price change is catastrophic. It is somewhat easy to discuss this during a strong rally, but I know myself well.

I could possibly hold to a very low number, but ONLY if I already took profits that cover my initial investment. That part in non-negotiable for me after I essentially lost a large (for me) account during the 2001-2002 crash. Bought some very speculative stocks on a small margin and as these stocks were cratering, I had to sell EVERYTHING so my account had some positive value (and not negative). That was a lesson to NEVER invest more than 20% (usually just 10%) of my portfolio in anything at ALL. 20% is a mechanical rule. I promised myself never to exceed it. In fact, when something does approach 20%, I eventually take profits so invested [$$-profit] approach 10% (or even lower) back from 20%. I do let profits run otherwise, don't care what % of the overall portfolio one item represents aka no rebalancing. The 10-20% rule only refers to the original investment.

I am just reading your post now and you just wrote exactly what I did few posts earlier. (percentage-wise)

Well, I was getting close to %50 with my initial investment and the downwards movement was scary af.

Kinda agreed with your invest %10 normally and %20 if you are greedy rule. I'll probably won't invest more than %10 of my wealth in crypto again and I'll take profits when it reaches %20+.

Right now I am at %1 so I have a long way.  

[JayJuanGee]

I'll say it again: poor Mindrust. One day he'll become popular like that bitcoin pizza guy by showing up on TV and telling his story of how he sold the bottom at ~$3800?

True, Laszlo's pizza is significant in the history of Bitcoin - but that is a random thing. As opposed to him being the very same guy who coded up the first (known) GPU miner. Which of course is a much more significant accomplishment.

Mindrust is just an unfortunate misguided chump who panic sold.

The difference is Laszlo probably still had many, many bitcoin’s. mindrust sadly became a NOCOINER due to his misguided cowardice.

Mindrust probably made a few $50 purchases.  Remember he said $50 per week...

but yeah, he will probably end up panicking again, at some point and buying too many at too high of a price.

Remember that mindrust said that he had learned his lesson during the last bullrun from 2015 to 2017 and that he was NOT going to make the same mistakes again, but when push came to shove, he pretty much dropped back into some kind of similar pattern and into making the same mistakes that he had made previously.

Sure, maybe his mistakes had a bit of a different flavor from the earlier ones , but still ends up being some kind of variations of the same earlier pattern.

Definitely it can be really hard to learn new behaviors when many of us have tendencies to become overly emotional about our investments, and trying to improve on the model and becoming too arrogant with ourselves and not really realizing that we are gambling too much in one direction.. so in that regard, we presume that we are both financially and psychologically prepared, but when push comes to shove, we did not even sufficiently harmonize our investment strategy with our own deficiencies (we all have deficiencies, and probably part of the difficulty is to attempt to best harmonize our investment strategies within those deficiencies so we do not screwing ourselves because we had failed to properly harmonize).

Mindrust is just an unfortunate misguided chump who panic sold.

Maybe.
It looks like that, but just maybe.

Yeah... right...  

You should know better than that, Cryptotourist.

It looks like that, but just maybe.

I'm just sad that dude didn't just re-buy and HODL at least 1 BTC. Maybe he did. Who knows.

He didn't.

[bitebits]

@Mindrust

There are still a lot of risks and concerns in the eventful Bitcoin world. That is why the price is so low today. If all your concerns are taken away, Bitcoin would have a way higher valuation and be boring price wise. You can’t have both.

[aesma]

@mindrust, you should know a bit better with the words if it goes to zero.... to many strong hands and fundamental believers....

I hope you will invest a bit and at least buy a full BTC to HODL, start some DCA again and stay interested.
I do understand the feeling of being over invested isn’t easy to live with, but nothing comes easy in life.

Buy btc cause you don’t trust the current system, buy btc for financial freedom and don’t let fiat wealth be the main factor...

Cheers and be safe and happy with your decisions

Obviously It cannot go to zero as long as the network functions but it can go to $3-5k and stay there for a long time if the world economy loses its shit completely. Maybe even $1k.

If it goes back to 5K buy one or two, if it goes back to 3K 2-3 more, 1K 5 more, and you're back to 10BTC for 24K !

[Toxic2040]

treehuggers

me?



you?