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

[serveria.com]

"What if the grayscales and the microstrategys of the world wanted to buy up cheaper bitcoin? Would they dump theirs so to buy it up at a cheaper price?"

Interesting thought although I'd call it unlikely as I'd describe them as woke right now.

Tesla with the snake Elon at the helm on the other hand, there's no telling what they'd be up to..

Same applies to Elon - buying at $30k and selling at $50k is that a clever move from a billionaire? Believe me, these big guys are not even going to consider selling before we go deep into 6 digits or even reach 7 digits. I'm sure they see the big picture and $1.5b is peanuts for them...   

I expect people like Elon and other mega billionaires to always be a few steps ahead of the rest of us so you tell me.. I've never had billions to manage so I wouldn't even attempt to think like them hence my statement "there's no telling what tehy'd be up to".

Would you consider selling at deep 6 digits or even 7? If the answer is yes then I would absolutely expect Elon and co. to be way ahead of you.

I am not selling my entire stash (oh shit forgot I lost it in a nasty boating accident) even if we'll reach 7 digits. If you can sell it almost risk-free at $200-300k then why selling at $57k? 100% gains? That's peanuts, pocket money whatever you call it... always zoom out for a bigger picture that's what billionaires do.. 

[1714771426]

1714771426

[serveria.com]

What's this? Sub $50k soon or what's happening... I wanted to see $70k this week, still on @WO?

It is a weird occurrence in the crypto sphere.
I was thinking of this exact scenario just yesterday:
"What if the grayscales and the microstrategys of the world wanted to buy up cheaper bitcoin? Would they dump theirs so to buy it up at a cheaper price?"
Well today I have my answer to my question.
From $57k when I woke up to $54k as of now.

What a load of bs! These big guys don't care if it's $60k, $30k or $70k. They see the potential/real value of BTC which is at very least a six digit number (7 digit in a more distant future). So if you're assuming Grayscale/MS are selling now you gotta be retarded man!  

Assuming nothing man. Just speculating like everybody else coming on here are doing.
The last time I checked we are on a branch of the speculation topic.
Calm your tits dude.

"What if the grayscales and the microstrategys of the world wanted to buy up cheaper bitcoin? Would they dump theirs so to buy it up at a cheaper price?"

Interesting thought although I'd call it unlikely as I'd describe them as woke right now.
Tesla with the snake Elon at the helm on the other hand, there's no telling what they'd be up to..

Same applies to Elon - buying at $30k and selling at $50k is that a clever move from a billionaire? Believe me, these big guys are not even going to consider selling before we go deep into 6 digits or even reach 7 digits. I'm sure they see the big picture and $1.5b is peanuts for them...    

Get your facts straight.
Elon did not purchase the BTC.
It was his company Tesla who bought it.
https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

Everyone and their f*cking dogs know this already.
Since he is a shill for Doge and has been from the very start of his dive into cryptocurrencies.
Hail the CEO of Dogecoin for a day.

He has stated many times over and over again: He only owns 0.25btc.

source: https://www.forbes.com/sites/billybambrough/2021/03/19/tesla-billionaire-and-bitcoin-bull-elon-musk-is-actually-the-answer-to-climate-change-claims-former-trump-comms-director/?sh=6d0ae4741b8e

Elon = Tesla in this case.

[serveria.com]

We are about to reverse and head back to $60k+ area! 

[LFC_Bitcoin]

We are about to reverse and head back to $60k+ area!  

Yes please, enough fucking around now. Weak hands shaken out, coins bought by stronger, smarter hands. Time to pump it

[Biodom]

It's just a pre-Coinbase IPO dip.
WS is trying to create a discount.

[Parazyd]

[cAPSLOCK]

I cannot think of a reason against the idea if big institutional money is taking positions now on the OTC market, that they would also be spending the comparatively smaller money on driving down the retail prices.  Seems almost obvious. 

If this paranoid scenario is indeed happening, then eventually the OTC market will dry up at these prices.  That strategy has a shelf life, I think.

[Biodom]

Some on WS could be following Bobby Lee's idea: that btc will go to 300K and then to $30K (he mentioned 90% decline from the top) within 2-3 years.
If you take it at a face value, there is no point for an investment house to buy in now, then show a 45% decline from here within 3 years.
Yes, it would pop up first according to Bobby Lee and pretty much everyone else, but as long as the downside from 300K is 90% the numbers above are not very desirable for a 3-3.5 year hold.
Personally, I think that Bobby is wrong and btc trajectory would be different, but it is certainly a possibility (maybe 1-5%).

[vapourminer]

~$54.6k @ stamp

ramen noodle reserves: 55%

this is fine

[Sayeds56]

We are about to reverse and head back to $60k+ area!  

Yes please, enough fucking around now. Weak hands shaken out, coins bought by stronger, smarter hands. Time to pump it

Sell signal off the 58,500 area but no follow through means it is too early to react (or over react) when it comes to judging the short term direction of Bitcoin . Shorter time frame oscillators may be bearish , but they FAIL to account for the price structure that is still intact on the bigger picture.



https://www.tradingview.com/chart/BTCUSD/qxOL0jyP-Bitcoin-Triangle-Bulls-In-Control/

[JayJuanGee]

<snipped a bunch of nonsensical remarks>

I did not bring the subject-it was in Elwar, vroom, whoever else posts.

Sorry to blame you then.   

Besides, WO (according to bitcointalk rules-check them out) could have posts OFF topic (by design).

My bbbbbaaaaaaadddd..

Do whatever you want then.

You fuck... #homo

However, that said, it is a little strange that your bowel movements are ON topic here, but some digital developments are not.

I don't remember pumping my bowl movements as if they were good for the bitcoin market..  If I recall correctly, I was just making an experiential contribution in regards to sometimes getting stuck in the middle of nowhere and having to do the dirty deed... but hey.. when  a guy (or gal) wants to rationalize his/her pumpening of shitcoins nonsense, then sure such guy/gal might come up with anything to rationalize such pumpening conduct.

"Stupid is as stupid does" F. Gump

Sure.. assess whatever I had posted as stupid  - seems like you are largely attempting to distract from ur lil selfie, amiNOTrite?

[philipma1957]

So we have ranged between 43k and 62k for 40+ days.

well from 2/8 to 3/22 is 42 days.

so if you use that as the range we are closer to the top number 62 and not the bottom number.

For me as a miner it is stupid good to stay in this range as long as we can.

It simply looks sideways with an upwards tick.


Much like a banana looks more like a banana than anything else.

We can read what ever we want but this is what I see.

O.k. It seems that we largely agree about what we see, but surely have differing ways of attempting to describe it and also differing ways of anticipating what remains probable, possible and/or likely to happen next.. and yeah, none of us have a crystal ball exactly, but it does remain important to consider both macro circumstances in which ongoingly peeps (including new ones) are getting into bitcoin (retail, already richie peeps and institutions) and also that since about September the "banana" or whatever you want to call it has been "happening."  So, yeah there might be a number of days or weeks or even close to month gaps between each time that king daddy has been touching upon new ATHs (starting since about November/December).

So, yeah, it seems important to consider when the last time an ATH had been reached and surely are we going to have another ATH soon^tm.. or are we going to coil for a while before attempting to strike the ATH again. or are we going to trickle down for a bit and have a correction...

So, yeah, I will also quibble with you a bit too Phillip in regards to your using $43k as a kind of measuring point in terms of the "range" that we are in, currently... because sure, at one point $43k was a place that we had needed to break above but we clearly broke above it about 6 weeks ago, and whether that price point really has any significant meaning at this time, besides being pulled out of your ass (hahahahahahaha), seems to remain a question future happenings rather than something that is actually grounded in the current dynamics of our lil king daddy fiend.. sure something might happen in regards to $43k... but something might happen in regards to $20k, too.. .. but still $20k seems to have about as much important as your seemingly randomly selected $43k.. in my humble bumble opinion.

By the way, I will admit that my use of $52k/$53k as the bottom of our current price range may also seem a wee bit random, and sure such range (or bottom of the current range) does seem to me to be a bit of a moving target, and likely more measureable from how far we have gone UPpity and how fast we have gone UPpity rather than attempting to measure from where we had been and whether those earlier price points might be relevant at this time.. and yeah we may well come to differing assessments regarding relevancy of earlier price points that we had crossed and the way in which we had crossed those earlier price points (suggesting whether there might be some kind of need or compelling inclination to retest them once BTC's price momentum starts to go in that direction).

To me, it does seem that when we are at the top of any price range that we happen to be in that is making new ATHs on a fairly regular basis, then anything less than around 15% price corrections (calculating from whatever latest ATH may have happened to hit) seem to be largely noise.... and going beyond 15%, such as going to $43k (which is 30%-ish) seems to be somewhat random in terms of whether BTC is likely to correct to that particular level or some other level, and surely historically we have seen all kinds of percentages of corrections that do not necessarily magically hover around 30%, even if that might feel like a nice random correction level to select.. but in the end, we could get a price correction that is anything from 15% to 60% and then end up hovering somewhere in the middle of that correction area and not even hovering at one point before dee kingie either decides to resume UPpity or decides that there is not enough buy support to keep it going UP or to even keep it flat and we end up in some longer period of DOWNity (or flat that is somewhere within a much greater than 15% correction place.. and perhaps in a 30% or even ending up in a greater than 50% correction area).

Of course, currently, many of us are considering that any BTC price correction greater than 50% is not very likely in the coming 3-18 months (apart from a flash dip).. given the ongoing macros and other factors already mentioned... so yeah, 30% may be a fair round about range to consider.. even though seemingly somewhat random in terms of attempting to figure out 1) where we are at, 2) how we got here and 3) where we might end up going, somewhat based on the first two.

Probably I have ruffled you enough for now.. hahahahahahaha.. #nohomo

I had to read this a few times.

The 43k bottom I picked was the rise point of a really big candle back on feb 8.
We have not dropped below that point and meandered upwards slowly but surely since then.

Your 52/53 floor works but tightens the time line more then I would do to say essentially what you are saying. The chart a few above  by sayeds56  gives  a more visual impact of what I am describing.

[JayJuanGee]

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless

I think this might be becoming a thing... my last day is April 2nd..  officially retiring early.  Sold a smallish chunk to diversify so that if we have an 80% crash, I can ride it out without selling the dip... but yeah.. mostly the same plan.   good feelings

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

Don't want to get into any of your specifics or your OPsec, but $50 per week for 7 years would have put relatively "small fish(es)" into a decent place... - nearly 22 bitcoin and a value of nearly $1.3 million - with "ONLY" about a $18.5k investment spread over 7 years.

I wish I'd have been that consistent dear JJG  

Ok... fair enough.

Maybe can sum up your particular circumstance as: "mistakes were made," no?

So maybe you know what my next question is going to be?  

namely..

Have you done anything to attempt to learn from the "mistakes were made" aspect of your past actions (or non-actions) in connection with bitcoin?  Sorry to come off as pedagogical, but this kind of admission deserves some kind of a more action oriented response.. or at least to attempt to describe what steps that you may have taken to at least attempt to employ better practices.
t
By the way, some of us might come off as godlier than thou, but likely many of us have made mistakes along the way too.. and sometimes there are decently practical and prudent explanations for such mistakes and maybe even some lackings in aggressiveness.. I surely have tried to share my mistakes over the years, and hey even in a process of not being consistent, there could be some other ways of making up for that lack of consistencies..

For me, I do believe that some of my investment mistakes have to do with 20-30 years before getting into bitcoin.. so I do understand based on my own mistakes about how sometimes a lack of cashflow can cause too much conservatism - which was probably a lot of my mistakes earlier on (before bitcoin), and some peeps have suggested that I have been overly conservative when it comes to bitcoin, too.. but I really have some difficulties understanding those kinds of comments, just overall speaking about things such as my continuing to maintain investments in 401ks and things like that - even after getting into bitcoin.

Usually March, is always a bad month for BTC... Probably will see again a good run from April and the TOP (or first TOP, if it is in 2 times) in June.

We are poor in march but rich before summer in both cases  

March of 2021 has been pretty god-damned good so far.

We got an ATH ($61,782) on March 13, about dab nab in the middle of March.  How much better could you get?

Are you going to go from an actual good of an ATH in the middle of the month to saying that March was actually bad merely because we might not get another ATH all the way until next month or sometime after that?  Or perhaps you were going to suggest that March of 2021 was bad because the BTC price ONLY got to around 16x of the March 2020 price ($61,782/$3,850)?

In other words, I have some difficulties, no matter how you slice it, considering that you can come up with any stupid-ass narrative that bitcoin's price performance in March 2021 is bad merely because either you came up with it on your own, or someone told you, that March(es) tend to be bad?  even when honey badger gives no fucks about seasonality claims, even though peeps like to continue to make such correlation attempts.

Usually March, is always a bad month for BTC... Probably will see again a good run from April and the TOP (or first TOP, if it is in 2 times) in June.

We are poor in march but rich before summer in both cases 

Yeah, right, total disaster... new ATH reached in March that's a shitty month no doubt... 

Ok.. whatever.. serveria..beat me to it.. whatever whatever.   

[philipma1957]

Or may he is right and March 2021 will suck compared to June or July 2021.

Although I have to say if this is a bad March what is a good one?

[JayJuanGee]

Some on WS could be following Bobby Lee's idea: that btc will go to 300K and then to $30K (he mentioned 90% decline from the top) within 2-3 years.

Since when did we start following Bitcoin price sorcerers?

remember how much credibility Vinny Lingham had in about March 2017.. when the price was in about the $1.2k arena and had dipped to $800 area, and then he said that sub $500 was inevitable because many rich folks that he knew were selling blah blah blah.. and anyone who followed Lingham's advice surely should have been regretting any such thing.

If you take it at a face value, there is no point for an investment house to buy in now, then show a 45% decline from here within 3 years.

Makes sense to me that since they do not know the future, they are considering getting in now..

Yes, it would pop up first according to Bobby Lee

Fuck Bobby Lee and the "according to" aspect of your comment.

and pretty much everyone else,

Yes.. a kind of "royal we".. Lingham had proclaimed "everyone" who is anyone is selling too, but ended up saying that at the bottom of the then BTC price correction... and BTC prices never ever to return to those levels after those wise words and the representations about what "everyone" was doing.

but as long as the downside from 300K is 90% the numbers above are not very desirable for a 3-3.5 year hold.

Biodom... recommends:  Dont buy bitcoin.. wait for 3 or 3.5 years or so, so you don't miss opportunity costs with your money..

That makes a lot of sense, Biodom.


NOT

Personally, I think that Bobby is wrong and btc trajectory would be different,

Well, at least you recognize that angle.

but it is certainly a possibility (maybe 1-5%).

Yes, a lot of things are possible, and we do not put more than 1% to 5% value into matters with those kinds of probabilities, and gosh are you being generous to go up to 5% with your assignment of probabilities to such scenario that "could, possibly, might happen?"

[Paashaas]

[Arriemoller]

We arians are a happy bunch.

[bitebits]

[...] once I am back home and have another $1000 BTC loaded in.

Thanks Mr cAPSLOCK and BobLawblaw.

You can, and will, thank them and yourself later. Might take a few years to decades though, the hardest part is to do nothing. Be patient.

For reference: bitcoin currently @54k USD, so roughly purchasing 0.0185 BTC.

[Hueristic]

We arians are a happy bunch.

You should be, your the children of people that lived through horrific times.

[proudhon]

Permanent goblin town ahead. You've been warned.