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

[Toxic2040]

Good morning Bitcoinland.

Bouncy bouncy. Under $9.5k, over $9.9k, back down again, now back up around $9.7k... currently $9705USD/$13500CAD (Bitcoinaverage).

Aren't roller coasters fun?
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I can't see why everybody is making a big fuss about some author. What do children's books have to do with Bitcoin? If she were a plumber or farmer would people care?

Okay, I guess she has more money to convert to Bitcoin than your average plumber or farmer. I could have said medical patent holder or architect.

No matter. It has nothing to do with Bitcoin. Have people become so brainwashed with celebrity propaganda that they think she's something special? She's just a writer fer crissakes.

Good morning Jimbo

Its not the fact that shes an author..its the exposure to her fans and followers. Free advertising to millions who might not have known what bitcoin is..and are now curious what the ruckus is about.

Still a nothingburger for the most part but every little bit helps in my mind.

[Ibian]

I can't see why everybody is making a big fuss about some author. What do children's books have to do with Bitcoin? If she were a plumber or farmer would people care?

Okay, I guess she has more money to convert to Bitcoin than your average plumber or farmer. I could have said medical patent holder or architect.

No matter. It has nothing to do with Bitcoin. Have people become so brainwashed with celebrity propaganda that they think she's something special? She's just a writer fer crissakes.

Celebrity and sports worship is one of the bigger signs of a declining civilization. Possibly the richest sportsman in history was a roman charioteer. He drove around in circles, much like your typical race car driver does today. He had a personal fortune worth billions in todays money.

[Toxic2040]

the morning wall report

Another outage at BitMex overnight has bitcoin doing more short, choppy tacks. Course appears to be back on track with continued sideways accumulation. #dyor

1h


4h

#stronghats


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[rdbase]

Good morning Bitcoinland.
Bouncy bouncy. Under $9.5k, over $9.9k, back down again, now back up around $9.7k... currently $9705USD/$13500CAD (Bitcoinaverage).
Aren't roller coasters fun?
_____
I can't see why everybody is making a big fuss about some author. What do children's books have to do with Bitcoin? If she were a plumber or farmer would people care?
Okay, I guess she has more money to convert to Bitcoin than your average plumber or farmer. I could have said medical patent holder or architect.
No matter. It has nothing to do with Bitcoin. Have people become so brainwashed with celebrity propaganda that they think she's something special? She's just a writer fer crissakes.

Good morning Jimbo
Its not the fact that shes an author..its the exposure to her fans and followers. Free advertising to millions who might not have known what bitcoin is..and are now curious what the ruckus is about.
Still a nothingburger for the most part but every little bit helps in my mind.

Didnt you see how quick coinbase's armstrong was to respond to her post (urrr wait, he responded to the fake account NotLoomdart instead ) and wanted to mention where to make her first purchase of this new found treasure.

https://twitter.com/TheStalwart/status/1261779484203720706
Even CZ got into it as well (he is part canadian?).  
https://decrypt.co/29122/jk-rowling-binance-coinbase-tweet
These exchange owners really want to sign up the newbz with those millions of twitter followers to "win them all". Kind of like treating their customers as pokemon characters.
*sorry jimbotoronto for the children material (harry potter/dbz) references when it comes to cryptocurrency yet again. *

[JayJuanGee]

Just close above 10k would you, sick of this bounce off shit. I like making money when it goes up, but I like tweeting the price to Paul Krugman even more. Sometimes Schiff for shits and giggles.

In late March, $10k was a kind of fantasy to reach, and there were many bitcoin naysayers were proclaiming with decent amounts of confidence (and even seemed reasonable) that $10k might not be reached for 1 or 2 or more years.

My, how times have changed, and you don't see those same kinds of spouts of bearish confidence from the bitcoin naysayers since we have been bouncing all around the $9ks within about 6 weeks of the March 12 crashening.. and thereafter toying with $10k for the past month, almost...

who would of thunk?  who would of thunk?

Sure, at some point we are going to be clearing 4 digits forever, and it could either come quickly, or it could drag on for months and months. 

Even though I prefer UP more than DOWN, I am not complaining about sideways in the $9ks or even revisiting some lows.. but sure, I would prefer UP because it is so wonderful to NOT give the fucktwat naysayers any more opportunities to buy coins that they should have bought a long time ago... not calling you a fucktwat mindrust.. I am referring to the others.. you have paid for your bearishness (and willingness to follow fucktwat masterluc), already...

By the way, towards the beginning of this year (referring to 2020), I was starting to believe that sub-$5k was going to be history for bitcoin for good and for forever, but March 12, really shook some confidence from those kinds of feelings of the location of the bottom, exactly, even though the period that we were below $5k was only about 1 week in total, but considering the extremes and the need to HODL through can shake a lot of confidence. 

So, yeah, we could get some low challenges again, but don't get me wrong, I am becoming more inclined towards advancing my considerations regarding the extreme bottoms from $5k to $6k... so even my perception of the bottom is moving up, even though I always consider some kind of need to be prepared for extremes towards the downside that are NOT really preferable but sometimes just seem to be the easiest direction for the short term. 

In the end, there does seem to be some good with staying in the $9ks and to having the BTC price pressures going upwards, even though there is likely little to no control that any of us (small fishes) have over which way the BTC price is going to go in the short term. 

I think that it could be a decent amount of time before we could reasonably assert with confidence that 4 digits are over with, history, gone forever, even if we were to get closer towards challenging the resistance points in the $17ks...

[Tash]

Whales busy shoveling money
https://dailyhodl.com/2020/05/19/massive-crypto-whale-drains-bitcoin-wallet-moves-143000000-in-btc-in-single-transaction/

[hodl_2015]

Whales busy shoveling money
https://dailyhodl.com/2020/05/19/massive-crypto-whale-drains-bitcoin-wallet-moves-143000000-in-btc-in-single-transaction/

shoveling $143M fast, secure, worldwide, with a $0.30 fee. Bitcoin is growing up.
Probably to claim BCH from the old keys 

[OutOfMemory]

Whales busy shoveling money
https://dailyhodl.com/2020/05/19/massive-crypto-whale-drains-bitcoin-wallet-moves-143000000-in-btc-in-single-transaction/

tulip trust 

Could also be a bitcointalk member.

Mysteries...

[OutOfMemory]

This is actually fascinating me since the covid glitch resolved. If it really plays out, we'll have the chance to accumulate at these prices until mid Q4Q3/2020.
Not the worst option, honestly. Bitcoin, you can moon later  

[serveria.com]

This is actually fascinating me since the covid glitch resolved. If it really plays out, we'll have the chance to accumulate at these prices until mid Q4/2020.
Not the worst option, honestly. Bitcoin, you can moon later 

Sideways until 2021? NOT fun. 

[JayJuanGee]

This is actually fascinating me since the covid glitch resolved. If it really plays out, we'll have the chance to accumulate at these prices until mid Q4/2020.
Not the worst option, honestly. Bitcoin, you can moon later  

Sideways until 2021? NOT fun.  

Bitcoin does not tend to do sideways very well, especially, if you are expecting it, so you might want to consider that, too.

Well, after-the-fact, you can identify some seemingly sideways periods.

[bitebits]

05/18/2020

https://www.ledger.com/improving-the-ecosystem-disclosure-of-the-trezor-recovery-phrase-extraction-vulnerability

Always use a passphrase on top of your seed!

[rdbase]

the morning wall report

Another outage at BitMex overnight has bitcoin doing more short, choppy tacks. Course appears to be back on track with continued sideways accumulation. #dyor

~Charts ~
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Bitmex being sued by same group which did it to FTX and ripple. They are in trrrrrroubbbbbleeeee!
https://www.coindesk.com/bitmex-market-manipulation-lawsuit-rico-bma
From what I remember last week they were saying so much liquidation that went on there. Then them sending out this large amount of liquidated btc totaling 12kbtc in one transaction was the main reason for clogging up the blockchain hence causing the major rise up in transaction fees for everyone.

[OutOfMemory]

This is actually fascinating me since the covid glitch resolved. If it really plays out, we'll have the chance to accumulate at these prices until mid Q4/2020.
Not the worst option, honestly. Bitcoin, you can moon later  

Sideways until 2021? NOT fun.  

Bitcoin does not tend to do sideways very well, especially, if you are expecting it, so you might want to consider that, too.

Well, after-the-fact, you can identify some seemingly sideways periods.

Sorry, gotta correct that to Q3!
And yes, BTC does not tend to do sideways well, but if the triangle plays out, she's going quasi-sideways for the next few months.
If you omit the "covid glitch", it did "sideways" (swinging between $9k and $10k) pretty well in the recent past.
But yeah, nobody (really) knows, and history shows us that many "bitcoin prophets" were turned to fools more often than once  

EDIT:
Here's the zoom-out version:

[LUCKMCFLY]

Values ​​with interesting Charts.

Daily USD value of new bitcoin issued - Linear vs Log scale

Source: https://twitter.com/ChartsBtc/status/1262804681945780224

[LFC_Bitcoin]

@BTC_Macro
88% of all Bitcoins have already been mined.

Soon, the public will realize that most of us have no interest in selling.

Billions of people will fight over a small percentage of $BTC.

The end game? Price will moon and only millionaires will be able to afford 1 full Bitcoin.
https://twitter.com/btc_macro/status/1262757933193945088?s=21



Soon........

[JayJuanGee]

If you omit the "covid glitch", it did "sideways" (swinging between $9k and $10k) pretty well in the recent past.

Whether covid is real or not, we cannot be going around "omitting" what actually happened in bitcoinlandia.

 

In other words, whether some event explains what happened in bitcoin price movement or not, it still serves a purpose, even if it were fake.... and let's say, for example, the bitmex exchange had to shut down its trades on March 12 because overleveraged trades were going to bring bitcoin to zero or close to zero, so yes, bitcoin prices could have gone to zero on March 12 had bitmex not shut off their exchange, and perhaps the recovery would have been more violent.. or perhaps the BTC price might have got caught in the sub $1k territory for a week or more.  But, fact of the matter is that none of that happened.. bitcoin did not go to zero and bitcoin did not even go below $3k.

Instead, as we know, bitcoin went to $3,850, which was largely a 50% price correction within one day that largely recovered itself within a couple of weeks - while having some lingering staying down effects and even some doubts about whether the BTC price recovery would continue or revert back to testing $3,850 or some other price that was lower than the subsequent recovery point.

And, sure such outrageousness served a purpose to relieve some folks of their coins (sorry mindrust), and to cause some people (perhaps weak hands) to continue to doubt whether they should keep some of their value in BTC... or to buy with the value that they have, and they say: "I am going to wait and buy cheaper coins.. so instead of using my $1,000 to buy .103 BTC (at $9,700), or .133 BTC (at $7,500),  .222 BTC (at $4,500), I am going to wait to  buy .4 BTC at $2,500 because it appears that Masterluc might be right...". blah blah blah..   and so bears might want to test out the weak hands again, or maybe the bears realize that they are only given such opportunities based on a confluence of events.. that might not play out again in such a perfect storm...   Even the bears might start to wonder whether they can they replicate the storm and if they have shaken out as many weak hands as they can?  or not?  

Can we just ignore what happened on March 12....? NO, we cannot!!!!!   Can we omit certain parts of bitcoin's price movements, and try to analyze what is going on in bitcoin as if our omitted parts were an aberration?  NO, we cannot!!!!!  

If we omit parts, then we are in fantasy land, and in essence, we have to account for what actually happened,  the good, the bad, the ugly.. and the aberrations.. even if we believe that the aberrations had accomplished nothing or they were not representative of king daddy...

Of course, I am not suggesting that many of us are not going to profit from being able to recognize the difference between signal and noise, and of course, many of us were not shaken from our coins during the $3,850 dump, and many of us picked up a few more coins during such dumpening.  

[jojo69]

what is the update on the difficulty adjustment?

[SeaBits]

what is the update on the difficulty adjustment?

According to: https://diff.cryptothis.com/

Latest Block:   630971  (2 minutes ago)
Current Pace:   93.9494%  (1980 / 2107.52 expected, 127.52 behind)
Current Difficulty:   16104807485529.38XXXXXXXXXXXXXXXXXXXXXXXXXXXX
Next Difficulty:   between 15132455028583 and 15132746375132
Next Difficulty Change:   between -6.0377% and -6.0358%
Previous Retarget:   May 4, 2020 at 9:02 PM
Next Retarget (earliest):   Today at 6:40 PM  (in 0d 6h 22m 46s)
Next Retarget (latest):   Today at 6:40 PM  (in 0d 6h 23m 11s)
Projected Epoch Length:   between 14d 21h 37m 56s and 14d 21h 38m 21s

[Biodom]

what is the update on the difficulty adjustment?

According to: https://diff.cryptothis.com/

Latest Block:   630971  (2 minutes ago)
Current Pace:   93.9494%  (1980 / 2107.52 expected, 127.52 behind)
Current Difficulty:   16104807485529.38XXXXXXXXXXXXXXXXXXXXXXXXXXXX
Next Difficulty:   between 15132455028583 and 15132746375132
Next Difficulty Change:   between -6.0377% and -6.0358%
Previous Retarget:   May 4, 2020 at 9:02 PM
Next Retarget (earliest):   Today at 6:40 PM  (in 0d 6h 22m 46s)
Next Retarget (latest):   Today at 6:40 PM  (in 0d 6h 23m 11s)
Projected Epoch Length:   between 14d 21h 37m 56s and 14d 21h 38m 21s

-6% in diff, 20-30% of the reward in fees, basically only 15%-20% lower earnings than before the halving (in btc) and, considering that prices were in the 8000 range a couple of weeks ago and close to 10K now, miner earnings are essentially the same (in $$).