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

[Febo]

Price can not go over 20k for months.

Why not?

Why will go over 20k this month?  It can go or will not go for months. So there are two options and not just one option that it will go over 20k really fast. There is a lot of hype lately. Specially when people falsely compare this year with 2017 instead of 2016.  In January 2017 Bitcoin reached old ATH, but then there was a correction and only from May 2017 it start grow substantially beyond ATH. I am not saying it will totally repeat as it was 4 years ago. But it is possible it will. Probably higher possibility than to expect that Bitcoin will go over 20k this month and never go below anymore.

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[friends1980]

Nurse must have some serious amnesia if she can't remember what a dollar is in 5 years time...

^he's in a come from 10y old age or something ....

Thought so too, at first, but then I came to presume they're probably using Islamic Calendar time.

[Paashaas]

Fidelity Digital to Hold Bitcoin as Collateral for Cash Loans.

Fidelity Digital Assets will allow its institutional customers to pledge Bitcoin as collateral against cash loans in a partnership with blockchain startup BlockFi.

The unit of Boston-based asset manager Fidelity Investments will hold the digital asset and not make loans itself, Tom Jessop, president of Fidelity Digital Assets, said in an interview. The target is Bitcoin investors who want to turn their digital stash into cash without selling, and potential customers include hedge funds, crypto miners and over-the-counter trading desks, Jessop said.

[600watt]

we climbed every peak of this range. we went through all the valleys of despair. one after the other. step by step. with no oxygen mask, no compass, no ropes but still most of us found the way. because we went together.

you all did a great job but I have to tell you its not over yet. next year we need to climb mountains so steep and high it will make our past adventures look like a home for the elderly bus tour.

[cAPSLOCK]

Citybank said a $300k coin next year.

Jokers...

They do tho...

Our honeymoon with Michael Saylor is over...
The blush is off the rose.
The bloom is off the peach.
The sheen is off the bean.
The luster is off the... mustard.

“Stop talking about regulatory arbitrage. Censorship-resistance, privacy, and tax evasion are bad ideas. We hate that.” - Michael Saylor

Anyone who continues to wave their pompoms behind this guy should probably leave the forum.

“Inspirational, but it’s not going to displace Apple or Alipay,” Saylor points out, “right now, Bitcoin’s number one source of energy is the support from Square Cash and PayPal. These are two things that directly compete with the Lightning network.”

Turns out he's kind of a fucking moron as well.

Meh.  Smells like a purity test to me.

It's a paradox that we have a censorship resistant trust minimized asset but we get twitchy when people who's ideas we don't like use it.

I think the whole Crypto-Twitter Saylor worship event was somewhat embarrassing in the first place.  But at the same time the dude GETS bitcoin.  I would not be surprised if he is saying the above things out of one side of his mouth.  He is in a fairly precarious position as the de facto mouthpiece of a publicly traded company.  Some things he can and cannot say.

And he is right about the bit with trusted layer two like Square.  And lightning is a hobbyist platform today.  Square/CashApp is an actual working product people use.  And before you sling at me too hard... I run 2 lighting nodes.

[AlcoHoDL]

Nurse must have some serious amnesia if she can't remember what a dollar is in 5 years time...

1. The amnesiac nurse.
2. The LN necessity (0.31 sat is not doable on-chain).
3. The missing Bitcoin symbol.

Conclusion: the meme creator is useless...

[xhomerx10]

Nurse must have some serious amnesia if she can't remember what a dollar is in 5 years time...

1. The amnesiac nurse.
2. The LN necessity (0.31 sat is not doable on-chain).
3. The missing Bitcoin symbol.

Conclusion: the meme creator is useless...

 I have it on good authority that the author is Michael Saylor.

[Wekkel]

I love this Willy Woo character: https://twitter.com/woonomic/status/1335631090959015939?s=21

Greatest Wealth Transfer Ever 

[sirazimuth]

                                                              

[xhomerx10]

                                                         

 That's beautiful.
 

[serveria.com]

FWIW, I'm converting part of my Paypal cash balances from transactions, into BTC, within the Paypal ecosystem.

I'm really angry with myself for doing that.

Already had to sell some "pocket lint" in BTC, to facilitate a refund on a USD transaction, and it asked for my SSN, before allowing me to continue.

HAR HAR IRS !!!

I SOLD THAT $25 AT A LOSS !!!

Many issues related to paypal now coming out so my feeling is  we will soon have divorce between paypal and bitcoin.

What makes you think so? What kind of issues? I can't think of many companies that stopped accepting/offering BTC. The person responsible for such a decision will most likely lose his job soon. According to the latest reports they have bought up to 70% of all BTC mined lately (November?). So unless you prove they're parting ways with BTC it's all FUD and BS.   

[serveria.com]

Price can not go over 20k for months.

Why not?

Because we have this problem here right now.

Transferring big q-ties of BTC to exchanges is not a "problem". That doesn't necessarily mean it's going to be sold anytime soon. Proven by maths and science. 

[JimboToronto]

Good morning Bitcoinland.

Bouncing along in the $18xxx range (with a very short-lived dip under $18k)... currently $18447USD/$23615CAD (Bitcoinaverage).

Ready to resume the ongoing battle for $19k. $20k before year's end? Let's wait and see.

Go Bitcoin go.

Price can not go over 20k for months.

Why not?

Why will go over 20k this month?  It can go or will not go for months. So there are two options and not just one option that it will go over 20k really fast. There is a lot of hype lately. Specially when people falsely compare this year with 2017 instead of 2016.  In January 2017 Bitcoin reached old ATH, but then there was a correction and only from May 2017 it start grow substantially beyond ATH. I am not saying it will totally repeat as it was 4 years ago. But it is possible it will. Probably higher possibility than to expect that Bitcoin will go over 20k this month and never go below anymore.

Actually we're fairly close in our projections.

I've always pointed out that what has been happening these last few months is comparable to what happened in late 2016 not to what happened in 2017, must a month or two later.  

When we finally broke the old ATH in January 2017, we quickly had a massive correction from just over $1100 to just under $800. This was equivalent to the massive correction from almost $20k down to barely over $16k this year.

When it took over a month to reach another ATH before correcting again, naive bears kept waiting for $800 again like it was the holy grail. Needless to say it never made it that low again, barely reaching as low as $900 briefly in March before starting its long exponential growth up to almost $20k.

I'm not saying $20k will necessarily be broken this month or next, but it very easily could be. It's far more likely than going as low as $16k ever again. Talk of $14k is just wishful thinking on the part of foolish bears who made the mistake of selling and are dreaming of buying back at a lower price.

I was just taking exception to your saying that the "price can not go over 20k for months". It most certainly can and probably will.

[Torque]

Yeah, people need to relax a bit.

We've seen these kind of pullbacks every December when some traders take profit for tax purposes. And the market selling and lack of momentum trade makes it easier for other whale traders to then build a larger short position in order to push down the price more.

[aysg76]

I have been reading the charts from several years but never noticed the bitcoin's buy support like this in the past. So, I decided it worth writing a post in Wall Observer about it.

Marketable securities are mostly undervalued/overvalued depending upon their market price in relation to intrinsic value. Bitcoin in past has been considered overvalued many times. Sometimes, it surges enormously in short-period of time which leads people to believe that bitcoin price is riding on a bubble. And we can't deny that this notion turned out to be true at several occasions like post January, 2018 crash of more than 65%.

But this time it is different. After reaching ATH, it fell down to $16-16.5K range but soon recovered due to huge buy wall and reached new ATH 4 days later. However, it failed to break $20K mark. So, the resistance grew and it once again fell earlier today. But this time, it recovered much before $16.5K, we saw reversal in trend right from $17,800. All this indicates that people by general consensus are assuming that bitcoin's intrinsic value approximately worth $17-17.5K. Whenever, it goes above this range, it is trading at premium but premium is too low to be called bubble. Hence, we can still assume that this is a start of a bullish trend and bigger picture is yet to come.

By the way, received this cute little shill e-mail from Bittrex Global few hours ago:




Haha, what was the last time when a reputed exchange shilled bitcoin like this?

[Toxic2040]

good morning charts

#dyor

full kitteh at night, sailors delight   and no..i dont mean Saylor..its just part of a old ditty
1h


turtle takes otter by the tail
4h

#stronghands

[Dabs]

                                                           

How do we get one?

[DaRude]

Citybank said a $300k coin next year.

Jokers...

Citigroup has 204,000 employees.  Not really surprising that different parts of the business have differing views on related topics - the $300k bitcoin proposition came from their FX business (so looking at it from a currency perspective and was almost certainly being deliberately provocative); the assessment of Micro Strategy is from Equity research (looking at the future for the Micro Strategy business).  Expecting everyone at Citi to have exactly the same perspective is like expecting bitcointalk to only have one view on bitcoin ...

Even setting aside the size of the organisation and the different business views, one can be both positive about an asset AND believe someone is over-exposed to that asset at the same time.

Then where's the value in their views? Selective memory for a fortune teller? As long as you have 2 divisions they can always issue opposing "views" and you only "remember"/talk about the correct one win/win situation

[Toxic2040]

daily addendum

in a ideal world we would print a lower low than the November 26th one at $16.1k

not sure we live in a ideal world...but the correction we have seen so far is good for the market long term imho

further thoughts

the time is soonish.. tell the ones you love..the ones you respect..your neighbors..
the train is leaving the station for early adopters..its still not too late
onboard those you can..the best thing you can say to newbies it that saying
bitcoin is not a get rich quick scheme..its a not get poor slowly hedge against legacy fiat systems


steady as she goes

D

#stronghands

[xhomerx10]

                                                           

How do we get one?

 First, you must become the dude