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

[goldkingcoiner]

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[1714163289]

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[1714163289]

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[bitebits]

[...]
I have found a few daily diff drops like this can act as a price drag. So if these downward block days stretch out for 3-5 days there will be downward price pressure.

The hashrate drops (supposedly because of the current floods in China miners need to temporarily stop operation), not the difficulty (which gets adjusted once every 2016 blocks or ~2 weeks).

If the difficulty remains the same, but the hashrate drops, the miners still mining get more bitcoin per hash. Which means they have to sell less bitcoin to pay for electricity. So I am not sure why a sudden drop in hashrate would cause downward price pressure, would expect the opposite.

[aesma]

https://twitter.com/bigmagicdao/status/1295422797523509249?s=20
https://twitter.com/bigmagicdao/status/1295427366152368128?s=20
https://www.taiwannews.com.tw/en/news/3989041

heavy rain in China, hashrate dropping in Sichuan

bitcoin doesn't care, diff will retarget and it will still be the most secured asset on the planet

https://diff.cryptothis.com/


...

Latest Block:   644176  (27 minutes ago)
Current Pace:   106.9232%  (1073 / 1003.52 expected, 69.48 ahead)
Previous Difficulty:   16847561611550.27                           
Current Difficulty:   16947802333946.61                           
Next Difficulty:   between 17860258608729 and 18133699707126
Next Difficulty Change:   between +5.3839% and +6.9974%
Previous Retarget:   August 10, 2020 at 3:53 PM  (+0.5950%)
Next Retarget (earliest):   Sunday at 6:08 PM  (in 6d 2h 59m 24s)
Next Retarget (latest):   Sunday at 10:53 PM  (in 6d 7h 45m 1s)
Projected Epoch Length:   between 13d 2h 14m 38s and 13d 7h 0m 15s

so we are 69.48 blocks ahead of pace.

if flooding hurts hash rate in 1 day we will be under 60 blocks ahead of pace.

along with the 12300+ price miners such as myself will be smiling.

BTW if you pay attention I don't post here very much but i have been doing so for the last month or so.

Basically I really think we are going onward and upwards for a while.

And about 1 day later well 23 hours later.

https://diff.cryptothis.com/



Latest Block:   644295  (4 minutes ago)

Current Pace:   104.3672%  (1192 / 1142.12 expected, 49.88 ahead)

Previous Difficulty:   16847561611550.27                           
Current Difficulty:   16947802333946.61                           
Next Difficulty:   between 17568678518205 and 17698723435306
Next Difficulty Change:   between +3.6635% and +4.4308%
Previous Retarget:   August 10, 2020 at 3:53 PM  (+0.5950%)
Next Retarget (earliest):   Monday at 1:49 AM  (in 5d 11h 35m 11s)
Next Retarget (latest):   Monday at 4:10 AM  (in 5d 13h 56m 7s)
Projected Epoch Length:   between 13d 9h 56m 24s and 13d 12h 17m 20s

 
...

we dropped to 49 blocks ahead

or a 124 block day vs a 144 block day. so the floods helped to lower the diff.


BTW. I chart diff a lot for many reasons. One is to decide how fast to expand the farm.

I have found a few daily diff drops like this can act as a price drag. So if these downward block days stretch out for 3-5 days there will be downward price pressure.

You were right. Did the flood cut power lines ? Or are dams dumping water and stopping their generating plants ?

[aesma]

Guys, aren't you excited by the FACT that most of us will be USD* millionaires by the end of 2021?

I know I am!

* Not that I care much about the sucker, but it can still buy us some nice LHB...

Looking at the Eurodollar chart my Euro holdings might make me a USD millionaire by then !

[Toxic2040]

Before...

After....

+1 WOsMerit

--------
the late night wall report

its tuesday...sorry #dyor


over then under
4h


testing 0.236 short fib support..clearing some stops..regardless..dips continue to be bought

tighten the jib halyard and pinch her into the wind a bit..steady as she goes mister
D

#stronghands

[Biodom]

one point...bitcoin owes us nothing...so, before you imagine spending your largesse, please remember this and don't get mad at the setbacks.
That said, the chart from May 2019-Aug 2020 is one of the most bizarre charts I have ever seen.
Perhaps, someone is trying to shake most of the crowd loose.

[Cryptotourist]

That said, the chart from May 2019-Aug 2020 is one of the most bizarre charts I have ever seen.

Maybe this can help:



#bull.confirmed

Perhaps, someone is trying to shake most of the crowd loose.

Shake rattle n roll

[Last of the V8s]

[bitcoinisbest]

I am not a poet, just some thoughts regarding the current price movement.


Come with Patience and some capital
To buy bitcoin and some other coin
Future is bright if you are right
Buy on falls and hold for long.

After falls, there will be rise again
Just like after sunset there is always sunrise
So, worry less and enjoy the journey
Rather than being part of panic selling
Wait as the rise could be around soon.

Saw holders becoming wealthy in long term
And those want to make quick bucks in short term
Crypto Bitcoin may or may not be right place
As it may takes years for your price to bounce back
And if luck is riding, it could just happen overnight.

Edit : Thanks Last of the V8s for pointing it & bitebits for making the corrections where required. Implemented it 

[Last of the V8s]

I am not a poet,

To buy bitcoin and some other coin

no not a poet, but a good absurdist

[bitebits]

I am not a poet, just some thoughts regarding the current price movement.


Come with Patience and some capital
To buy bitcoin and some other coin
Future is bright if you are right
Buy on falls and hold for long.

After falls, there will be rise again
Just like after sunset there is always sunrise
So, worry less and enjoy the journey
Rather than being part of panic selling
Wait as the rise could be around soon.

Saw holders becoming wealthy in long term
And those want to make quick bucks in short term
Crypto Bitcoin may or may not be right place
As it may takes years for your price to bounce back
And if luck is riding, it could just happen overnight.

FTFY

[Last of the V8s]

oh I didn't get that far

[marcus_of_augustus]

the USSA security state propping up Biden for puppet President has many parallels of Brezhnev https://en.wikipedia.org/wiki/Leonid_Brezhnev at the end of the USSR ... was a running joke if he was even alive for the last years of his reign.

USSA is a crumbling empire, going bankrupt ... slowly at first, then all at once.

doesn't matter, Trump or Biden, it's now clear that the USSA is heading towards a cataclysmic bankruptcy event during the next Presidency, get ready.

[Indymoney]

the USSA security state propping up Biden for puppet President has many parallels of Brezhnev https://en.wikipedia.org/wiki/Leonid_Brezhnev at the end of the USSR ... was a running joke if he was even alive for the last years of his reign.

USSA is a crumbling empire, going bankrupt ... slowly at first, then all at once.

doesn't matter, Trump or Biden, it's now clear that the USSA is heading towards a cataclysmic bankruptcy event during the next Presidency, get ready.

[Indymoney]

https://www.coindesk.com/bitcoin-bull-run-slowing-pullback-expected

[fillippone]

Guys, aren't you excited by the FACT that most of us will be USD* millionaires by the end of 2021?

I know I am!

* Not that I care much about the sucker, but it can still buy us some nice LHB...

It is not just us WO gang.
Everybody is going to be an USD billionaire soon:

Astonishing:

Congratulations @federalreserve

https://twitter.com/NorthmanTrader/status/1295386196936462337?s=20

Keep calm.
1BTC= 1BTC.
Everybody will be a USD billionaire, soon.

Everybody in Zimbawe was a billionaire, also a lot of billionaries in Venezuela...

[machasm]

Good morning Bitcoinland.

I see we completed a full bart but we're still over $12k... currently $12038USD/$15866CAD (Bitcoinaverage).

The battle for $12k rages on.

Some days you earn 6 digits. Some days you lose 6 digits. Easy come easy go. No sweat.

Hodler doesn't panic. Future is bright. Life is good.

Meh, HODLER not affected. Our time in the sun will come

It is comforting to know that my WO brothers get it.
It would seem that this recent correction is yet another attempt at trying to scare the non believers into releasing the very thing that would save them from the inevitable financial reformation to come.
Furthermore, by using the very same instrument which is doomed, the dollar!
Don't 'they' know that 'we', the true believers will never be shaken out and as long as there are enough of 'us' committed to Hodling then Bitcoin is destined to succeed as the new, true Store of Value.
Dependable, incorruptable, convenient and censorship resistant.
What more could we ask for?
HODL strong my brethren.
We are Sparta! (insert meme her)

[Last of the V8s]

the USSA security state propping up Biden for puppet President has many parallels of Brezhnev https://en.wikipedia.org/wiki/Leonid_Brezhnev at the end of the USSR ... was a running joke if he was even alive for the last years of his reign.

USSA is a crumbling empire, going bankrupt ... slowly at first, then all at once.

doesn't matter, Trump or Biden, it's now clear that the USSA is heading towards a cataclysmic bankruptcy event during the next Presidency, get ready.

Yes, many parallels, and some differences. I can only hope there is less bloodshed than there was then (Yugoslavia, The Caucasus). But it seems likely the main core of the Empire, the USA itself, will suffer much worse than Russia did on the bloodshed front, and the peripheries (eg France, New Zealand) far less badly. Cue the guns debate, but please let's not bother with that again. For me, American individuals' guns are all there is between all of us everywhere and a free, sovereign life. Just for God's sake, when the USA breaks up, let's have a 'peaceful partition' for once.

[Last of the V8s]

This absolute arse

https://twitter.com/bennd77/status/1296048038981636096

https://cryptobriefing.com/roger-ver-tells-bitcoin-cash-faction-buy-dash/

    Bitcoin Cash's Infrastructure Funding Plan (IFP) plans redistribute funding from miners to BCH developers

    The idea is very controversial; BCH leader Roger Ver and many other community members oppose the plan

    Despite opposition, there is some demand for the feature and it is awaiting activation in Bitcoin Cash's node software

Bitcoin Cash leader Roger Ver has suggested that disgruntled developers should sell their BCH holdings and buy Dash in light of an upcoming change to the blockchain.

[serveria.com]

https://www.coindesk.com/bitcoin-bull-run-slowing-pullback-expected

Bitcoin doesn't give a damn... around + 300 since the last low... getting ready for another go at $12k (this time we'll go to $13-14 area the same as we broke $10k earlier this year)