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

[julian071]

Bitcoin falls over 10% as record-breaking rally loses steam
https://www.cnbc.com/2021/01/04/bitcoin-price-falls-as-record-breaking-rally-loses-steam.html

You hear that Average Joe retail losers? According to the MSM, the rally has 'lost steam'. It's over. Sell everything now. 

Haha that news item aged badly

[1715585908]

1715585908

[1715585908]

1715585908

[JimboToronto]

Bitcoin falls over 10% as record-breaking rally loses steam
https://www.cnbc.com/2021/01/04/bitcoin-price-falls-as-record-breaking-rally-loses-steam.html

You hear that Average Joe retail losers? According to the MSM, the rally has 'lost steam'. It's over. Sell everything now. 

I love how it takes days to report an ATH but a dip takes minutes.

[d_eddie]

Lately it seems to me they're eager to report about the honey badger. New ATHs are as good as losses of steam as long as they can put a snippet of news out. And lately, dips make for bigger news than ATHs (ATH? Yawn. Wake me up at 50k).

[soullyG]

Starting to find out more about the Grayscale buyers now, Three Arrows Capital has revealed they own more than $1.2 billion in GBTC:

Three Arrows Capital has disclosed a more than $1 billion position in Grayscale's Bitcoin Trust in a new filing submitted to the U.S. Securities and Exchange Commission.

The move by the Singapore investment firm follows a similarly large position in the trust placed earlier this year to capitalize on the premium at which it trades relative to bitcoin. Previously, the firm held 6.26% of GBTC shares, worth $259 million.

According to the most recent filing, the firm's position represents $1.24 billion. The firm's current position represents 36,969 bitcoin, or 6.1% of GBTC's holdings.

https://www.theblockcrypto.com/post/89928/three-arrows-reports-more-than-1-2-billion-position-in-grayscales-gbtc

[psycodad]

Interesting interview with the ex CEO of UBS and Credit Suisse (only in german unfortunately):

https://www.bzbasel.ch/wirtschaft/bankerlegende-oswald-gruebel-wir-gehen-in-eine-situation-wie-wir-sie-noch-nie-erlebt-haben-140356175

He actually sounds like some WO regular (of the JJG school as he mentions "Bitcoin" not the forbidden Crypto-word).

TL;DR: Way too much fiat (and debt) out there, debt-fiananced economic growth doesn't really work in the long run, stonks will correct heavily soon since massively overvalued currently, financial market implosion incoming though exact date not set yet.

Disclaimer: I don't like that guy at all, but I can agree to every statement he has made in this interview.

[eddie13]

Now that’s a healthy correction..

Pause, regroup.. March!

[bitserve]

Slack down... Remote workers worldwide extending their EOY holiday. Bullish?

[explorer]

The train has not left the tracks.  Chugga chugga choo choo...

[philipma1957]

I grabbed some PayPal BTC on the dip.  Was charged a fee so the PayPal fee free purchases ended jan 1.


My sale of 250,000k doge was well timed. I did not sell any btc.

[explorer]

I grabbed some PayPal BTC on the dip.  Was charged a fee so the PayPal fee free purchases ended jan 1.


My sale of 250,000k doge was well timed. I did not sell any btc.

Rate?  Fee?  Premium?

[LoyceV]

Capital gains tax isn't as bad as you think: long-term, our tax system is worse. Depending on how much you own, you pay 0 to 1.76% savings tax per year.
At the highest rate (which, unfortunately, I don't pay), you're down 16.3% in 10 years. In 20 years, taxes take 29.9% and in 40 years you lose 51.8% to taxes. At least a capital gains tax is only once and you're done.

That's why i don't tell them how much i hodl longterm, not going to pay unnecessary taxes.

That puts you in trouble if you ever decide to sell.

Although, tax system will get an overhaul coming years. First prosposal rejected to increase first 30k free of taxes to 440k, above that amounth every 1000 euro you pay 33 cent in taxes.

That comes down to 0.033% tax. Don't you mean like 33 euro (3.3%)? That will make some people leave the country

You can use these new tax rules into your financial planning, for example; if they accept the new 440k free of taxes rule you can sell 400k worth of corn at each 4 year cycle high. So you only pay taxes with the coins they know about. It doesn't matter anyway, it will be laughable. Next question will be, are you happy with 100k each year ore 8300 euro every month?

If only I had that many coins I won't have this sort of FWP
So your cover story story for the rest of eternity will be that you buy low and sell high, luckily timing each cycle?

[LFC_Bitcoin]

Bears trying to take us sub $30,000 again  

[OutOfMemory]

Bears trying to take us sub $30,000 again  

Institutions and governments waiting for lower prices at the OTC desks.
Bears ARE useful 

[Karartma1]

That's some massive fight around 30k level!
BTW, voted for the poll T/A is shamelessly worthless! Better stick to the old plan B.

[Torque]

Interesting interview with the ex CEO of UBS and Credit Suisse (only in german unfortunately):

https://www.bzbasel.ch/wirtschaft/bankerlegende-oswald-gruebel-wir-gehen-in-eine-situation-wie-wir-sie-noch-nie-erlebt-haben-140356175

He actually sounds like some WO regular (of the JJG school as he mentions "Bitcoin" not the forbidden Crypto-word).

TL;DR: Way too much fiat (and debt) out there, debt-fiananced economic growth doesn't really work in the long run, stonks will correct heavily soon since massively overvalued currently, financial market implosion incoming though exact date not set yet.

Disclaimer: I don't like that guy at all, but I can agree to every statement he has made in this interview.

I agree with everything except the "stonks will correct heavily soon" part. They are indeed massively overvalued, but the Fed will keep money printer go brrr on the downlow every year from this point forward, sending stonks even higher. And at the end of every business cycle (7-9 years), they'll use whatever downturn "event" as cover to push trillions of $$$ through, giving Wall Street another massive injection. Next time it won't be just a few trillion though, it'll be more like $10-15 Trillion.

The melt-up will continue for at least another decade, maybe two. Rates will go negative in the U.S. and everywhere else.

Eventually the Fed and the Treasury will merge into one entity, and the nationalization (er, globalization) of the dollar printing machine will be complete.

[eddie13]

My logic says that if the $ goes down then stocks will go “up” in number, because the companies and their assets will be worth more $s..

[CookieFactory]

Interesting interview with the ex CEO of UBS and Credit Suisse (only in german unfortunately):

https://www.bzbasel.ch/wirtschaft/bankerlegende-oswald-gruebel-wir-gehen-in-eine-situation-wie-wir-sie-noch-nie-erlebt-haben-140356175

He actually sounds like some WO regular (of the JJG school as he mentions "Bitcoin" not the forbidden Crypto-word).

TL;DR: Way too much fiat (and debt) out there, debt-fiananced economic growth doesn't really work in the long run, stonks will correct heavily soon since massively overvalued currently, financial market implosion incoming though exact date not set yet.

Disclaimer: I don't like that guy at all, but I can agree to every statement he has made in this interview.

I agree with everything except the "stonks will correct heavily soon" part. They are indeed massively overvalued, but the Fed will keep money printer go brrr on the downlow every year from this point forward, sending stonks even higher. And at the end of every business cycle (7-9 years), they'll use whatever "event" as cover to push trillions of $$$ through, giving Wall Street another massive injection. Next time it won't be just a few trillion though, it'll be more like $10-15 Trillion.

The melt-up will continue for at least another decade, maybe two. Rates will go negative in the U.S. and everywhere else.

Eventually the Fed and the Treasury will merge into one entity, and the nationalization (er, globalization) of the dollar printing machine will be complete.

A decade or two though? That seems quite the leisurely collapse.

[johhnyUA]

Boy, ceгoдня нaщeлкaли лoнгoв нa $1,27 млpд! 

he he he

[Torque]

Interesting interview with the ex CEO of UBS and Credit Suisse (only in german unfortunately):

https://www.bzbasel.ch/wirtschaft/bankerlegende-oswald-gruebel-wir-gehen-in-eine-situation-wie-wir-sie-noch-nie-erlebt-haben-140356175

He actually sounds like some WO regular (of the JJG school as he mentions "Bitcoin" not the forbidden Crypto-word).

TL;DR: Way too much fiat (and debt) out there, debt-fiananced economic growth doesn't really work in the long run, stonks will correct heavily soon since massively overvalued currently, financial market implosion incoming though exact date not set yet.

Disclaimer: I don't like that guy at all, but I can agree to every statement he has made in this interview.

I agree with everything except the "stonks will correct heavily soon" part. They are indeed massively overvalued, but the Fed will keep money printer go brrr on the downlow every year from this point forward, sending stonks even higher. And at the end of every business cycle (7-9 years), they'll use whatever "event" as cover to push trillions of $$$ through, giving Wall Street another massive injection. Next time it won't be just a few trillion though, it'll be more like $10-15 Trillion.

The melt-up will continue for at least another decade, maybe two. Rates will go negative in the U.S. and everywhere else.

Eventually the Fed and the Treasury will merge into one entity, and the nationalization (er, globalization) of the dollar printing machine will be complete.

A decade or two though? That seems quite the leisurely collapse.

The dollar won't collapse the way most people think it will. It will be a 'reset'.

What the Fed/Treasury will do is just one day out-of-the-blue announce a new "digital dollar cryptocurrency" (i.e., Fedcoin) that essentially replaces the old dollar, and everything will be rolled over to it. People won't get a choice to 'adopt' it, the banks will just do the conversion for everyone automatically and behind the scenes.

But it will be the fine print that Average Joe nobody will forget to read: the conversion rate from the old paper fiat dollar to the new Fedcoin will be something like 1.1 : 1. Or perhaps an even worse conversion rate.

Markets (due to the billionaire insiders) will front run this surprise announcement and go to the moon.

The Average Joes out there with lots of fiat savings will lose millions in purchasing power overnight.

[psycodad]

Interesting interview with the ex CEO of UBS and Credit Suisse (only in german unfortunately):

https://www.bzbasel.ch/wirtschaft/bankerlegende-oswald-gruebel-wir-gehen-in-eine-situation-wie-wir-sie-noch-nie-erlebt-haben-140356175

He actually sounds like some WO regular (of the JJG school as he mentions "Bitcoin" not the forbidden Crypto-word).

TL;DR: Way too much fiat (and debt) out there, debt-fiananced economic growth doesn't really work in the long run, stonks will correct heavily soon since massively overvalued currently, financial market implosion incoming though exact date not set yet.

Disclaimer: I don't like that guy at all, but I can agree to every statement he has made in this interview.

I agree with everything except the "stonks will correct heavily soon" part. They are indeed massively overvalued, but the Fed will keep money printer go brrr on the downlow every year from this point forward, sending stonks even higher. And at the end of every business cycle (7-9 years), they'll use whatever "event" as cover to push trillions of $$$ through, giving Wall Street another massive injection. Next time it won't be just a few trillion though, it'll be more like $10-15 Trillion.

The melt-up will continue for at least another decade, maybe two. Rates will go negative in the U.S. and everywhere else.

Eventually the Fed and the Treasury will merge into one entity, and the nationalization (er, globalization) of the dollar printing machine will be complete.

I admittedly took that a bit out of context and fabricated that as a bit of a misleading teaser what you quoted (the "stonks will correct heavily soon").

What they asked him was if he bought stonks in 2020 and he didn't actually answer that but said instead that he already said a year before when corona wasn't a topic that things are overvalued currently and he expects a sizeable correction, not as much as in the corona crash this spring but since we are now mostly back to pre corona levels, around 20% from March 2020 prices wouldn't surprise him this time.

I agree that more USD = higher stonks prices generally but at some point eventually somebody is going to make some back of the envelope calculations and will be shocked to find out how overvalued some companies have become. But then again, we all know what the PPT is for and how the stock market must go up to keep the whole show running (debt, 401k and all that).

As I personally was never into stonks (and will never be), I'll just stock up on pop corn and watch how it works out from the sidelines.