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

[LFC_Bitcoin]

Dump for 🐜


Bears school report -

C

Must try harder

[JimboToronto]

Good morning Bitcoinland.

I see we had a nice little correction/dip all the way down to where we were the day before yesterday... currently $31711USD/40266CAD (Bitcoinaverage).

It's refreshing how quickly we recovered from a 20% dip.

As bad as it seemed at $28k, we still have a realistic chance at an ATH later today. Later this week is likely.

Bear fail. Go Bitcoin go

[mladen00]

that was fast correction and now --- moon

[d_eddie]

Am I the only one who checks the price before and after sex to see how much we earned (or lost) doing it?

I'm past that.

Now I check while on it just to be sure. My partners don't seem to appreciate that. Nocoiners... they just can't be helped.

Muahaha we think pretty much the same.. . 

You must be a great mind 

[Torque]

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. 

[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

[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.