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

[Parazyd]

He was right again! https://www.youtube.com/watch?v=XbZ8zDpX2Mg

[El duderino_]

Then get us back around 60 

[El duderino_]

Long time we saw that bones guy not ?

[OutOfMemory]

BTW it feels sooo funny that just by listening to WO regulars for the last four years i turned from panicking on every little daily dip to embracing, even enjoying dumps like 5% or more. If i wouldn't have done this, i would probably have gotten out at some bottom and got burned like mind.... you know who.

[friends1980]

Heh, I've just bought some corn. At the perfect 55k. I'm starting to understand the rules of this game.

If it goes a lot below 55k, I'll make sure to to re-read the manual. And to buy more.

[OutOfMemory]

Heh, I've just bought some corn. At the perfect 55k. I'm starting to understand the rules of this game.

If it goes a lot below 55k, I'll make sure to to re-read the manual. And to buy more.

The one thing i'm waiting for is the return of STRF writing things like "hey HODL loosers, told you so!"  

EDIT: I wasn't as good in "understanding the game" and had to market buy at a tad above $56k because i didn't set up limit buys.

[heslo]

https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP

Latest round of FUD; India looking to ban crypto which we've known for some time now... People dump for the stupidest reasons. If India wants to shut themselves out of a revolution, that's their bad luck

[OutOfMemory]

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

[somac.]

https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP

Latest round of FUD; India looking to ban crypto which we've known for some time now... People dump for the stupidest reasons. If India wants to shut themselves out of a revolution, that's their bad luck

So a year of weekly India bans Bitcoin to look forward to then.

[vapourminer]

...I finally got around to adding an 8TB mirrored array to my server

You must know your stuff about hard drives. Are SSD hard drives less reliabe than spinning disk ones?

Someone here recommended avoiding SSDs for storing important stuff.

not richy but ill give my (more or less useless) opinion based on my zfs and raid stuff as well as having SSDs since the intel X-25 SSDs. (2007 or so)

spinners are great for long term storage especially when not powered for long periods of time (years) which admittedly is not common in a NAS. but more importantly if they fail they can often be recovered with specialized equipment.

when a SSD goes its tends to be gone with no real way of recovering data. they are supposed to die in a read only mode but i have had 2 SSDs die in 10 years or so with no way to recover (hooray for backups!). and NO spinners die in that same timeframe although i lost a couple maybe 20 years ago.

the key to long life on spinners is to never turn them off imo.

for me its now its all mirrored drives (desktops) or ZFS level 2 (? i think its Z2 have to check) for important stuff on the NAS (my Z2 is 4 spinner drives any 2 can die) and Z1 (3 SSD drives, one can fail) plus a mirrored set of external USB spinner drives for (more or less) easily replaceable media. and kinda an experiment to see how far i can beat those externals as i do a full scrub every week on all pools. all in a freenas box that backs up to another freenas box thats off line except for that backup process.

so for me, i use spinners for important long term storage. safer as there is a chance of recovery if the drive goes belly up.

also for a NAS please use ECC memory!

i will be happy to be proven wrong on any of this however.

[ivomm]

As in most cases, this "dump" is not related to any news. The media always "finds" the reason, because they have to fill the  pages with something. IMO this is the usual



used by the bulls to clean the path for the next massive bull run. Now it can go even higher because of the weak hand cleansing. Let's not forget that 10% from the stimulus checks is equal to the whole Coinbase reserve, where the buying will occur. I expect crazy weeks ahead with a break to 120K in a month. And that won't be the end of this bull cycle, just a small stop on the way to 200K-400K this year.

[Syke]

https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP

Latest round of FUD; India looking to ban crypto which we've known for some time now... People dump for the stupidest reasons. If India wants to shut themselves out of a revolution, that's their bad luck

Old news.

https://www.business-standard.com/article/markets/india-will-not-shut-off-all-cryptocurrency-wants-blockchain-sitharaman-121031400754_1.html

[OutOfMemory]

https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP

Latest round of FUD; India looking to ban crypto which we've known for some time now... People dump for the stupidest reasons. If India wants to shut themselves out of a revolution, that's their bad luck

Old news.

https://www.business-standard.com/article/markets/india-will-not-shut-off-all-cryptocurrency-wants-blockchain-sitharaman-121031400754_1.html

Better ban India from crypto  
If they don't stop spreading the FUD  

Now get on with that $timulu$ pump already!

EDIT: /me getting over-excited again. Usually i do this before dips, so hold your fiat ready 
But when i see how those red walls get eaten up slowly, i doubt another dip (which usually follows right after i'm sure it should not occur)...

[Gyrsur]

did some reading on the Gain-Of-Function research in science and I'm shocked now. since several years mankind is on the way to destroy themselves by Gain-Of-Function research and tweaking all kind of viruses. a second way to destroy themselves besides nuclear weapons.

[samson]

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

Lol, who do you think put the sell walls there? 

[OutOfMemory]

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

Lol, who do you think put the sell walls there?  

I don't think they'd set them this deep. Wouldn't make a lot of sense (or money).

EDIT: Let me refine. Why would they sell a bunch to trigger SL and panic sells, to buy in lower again and then set up sells slightly above their buy levels?

[Wekkel]

How do you determine that the Bitcoin price is not overvalued?

I tend to look at various (long term) indicators which may give guidance on this point.

https://charts.woobull.com/bitcoin-mvrv-ratio/#:~:text=MVRV%20is%20simply%20the%20ratio,spotting%20market%20tops%20and%20bottoms.
https://charts.woobull.com/bitcoin-nvt-price/
https://charts.woobull.com/bitcoin-vwap-ratio/
https://charts.woobull.com/bitcoin-price-models/

The Mayer Multiple is also a good one.

https://www.buybitcoinworldwide.com/mayer-multiple/
https://charts.woobull.com/bitcoin-mayer-multiple/

But in the end it's also about your own gut feeling. A simple rule could be: when in ultra bull market phase, think about selling some if price doubles again within 3 weeks.

No worries, were not in 'ultra bull market phase' yet.

[OutOfMemory]

Because some of us are still used to 2017 pump levels. I made that mistake, too.
But JJG got me straight again 

[Wekkel]

did some reading on the Gain-Of-Function research in science and I'm shocked now. since several years mankind is on the way to destroy themselves by Gain-Of-Function research and tweaking all kind of viruses. a second way to destroy themselves besides nuclear weapons.

The best thing: the guy supervising this dangerous stuff is also in charge of (US) COVID policy.

The crazy are running the asylum.

[samson]

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

Lol, who do you think put the sell walls there?  

I don't think they'd set them this deep. Wouldn't make a lot of sense (or money).

EDIT: Let me refine. Why would they sell a bunch to trigger SL and panic sells, to buy in lower again and then set up sells slightly above their buy levels?

To drive the price down and force 'those inclined to panic' to sell into their bids.

Classic 'bear raid'.