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

[shahzadafzal]

"Crypto tax in South Korea is ‘inevitable’ in 2022, says minister"
South Korea’s finance minister said that cryptocurrencies like Bitcoin will be taxed as “intangible assets.”
https://cointelegraph.com/news/crypto-tax-in-south-korea-is-inevitable-in-2022-says-minister

If I'm reading it correctly then it says, "bitcoin is being accept as a legal asset".

[El duderino_]

So the 70k heslo in 1 month guess is back on the map....

[El duderino_]

So the 70k heslo in 1 month guess is back on the map....

[bitcoinPsycho]

So the 70k heslo in 1 month guess is back on the map....

You beat me to it 

[LFC_Bitcoin]

@alistairmilne
RUMOUR: Facebook will annouce they hold #Bitcoin  on their books when they release their quarterly results after trading closes tomorrow

https://twitter.com/alistairmilne/status/1386953429814333441?s=21

[El duderino_]

So the 70k heslo in 1 month guess is back on the map....

You beat me to it 

 
 

[JimboToronto]

Lol, my only question is why is proudhon aka llama in the drawing

Proudhon is an alpaca, not a guanaco, llama or vicuna.

Alpaca socks were one of the first (legal) products available to be bought with Bitcoin.

[somac.]

@alistairmilne
RUMOUR: Facebook will annouce they hold #Bitcoin  on their books when they release their quarterly results after trading closes tomorrow

https://twitter.com/alistairmilne/status/1386953429814333441?s=21

We'll see.

But if true that would be slightly annoying. Having someone like Zuckerberg do well out of Bitcoin would kind of upset me, the guy is a real piece of shit afterall. However, that's the good thing about Bitcoin, it is open to everyone, no matter what.

[heslo]

This was quite the insightful podcast on Satoshi, well worth the time imo. https://www.youtube.com/watch?v=KSZMWEhUPG4&ab_channel=WhatBitcoinDid

Quite interesting.

Couldn't help but notice a photo of Peter Schiff on the interviewer's shelves.

It's a troll, McCormack loves trolling Schiff

So the 70k heslo in 1 month guess is back on the map....

Would not be upset to see it

[El duderino_]

Lol, my only question is why is proudhon aka llama in the drawing

Proudhon is an alpaca, not a guanaco, llama or vicuna.

Alpaca socks were one of the first (legal) products available to be bought with Bitcoin.

Thx for the info, didn’t know that

[ivomm]

This Tesla's liquidity test sell is of course a cover-up for turning Q1 to profit for Tesla. But it may have a positive long term impact on the mass adoption among the institutions. Some of them are still hesitant because of the fears of liquidity issues. Even Musk at first raised a doubt about that. And of course, SEC denied ETF's mostly because of the low liquidity of the US exchanges, which makes Bitcoin volatile and susceptible to manipulations. It is like a pop quiz in school. Now everyone has a proof that the liquidity is there and every institution may sell big amounts with a little discount. So, this is another victory on the way to the first ETF's approvals later this year.

But for me at least, there is another major reason for all what happened in the last 6-7 months. In the years of bear market I sometimes expressed regrets about these endless barts caused by the owners and close friends of Bitmex. I remember one post, when I said that the price would had reached 100K in no time if Bitmex didn't exist. I was opposed by r0ach, who claimed that prices above 10K are not sustainable because of the miners profits getting too high. Of course, no need to explain to the moron the elementary things. Coincedence or not, but on that very day, when CFTC accused Bitmex, the barts suddenly stopped. And since then I can't find evidence of derivate manipulation. As a consequence, Bitcoin has become less volatile which is quite appealing for the institutions and billionaires. I will go even further and say that Bitcoin won the war with the derivate manipulations and all these round numbers 100K, 1mil, etc. are just a matter of when, not if. In particular, one day the US government will decide to build and maintain a Bitcoin reserve, followed by governments and financial institutions worldwide. Just imagine that - almost everyone will prefer to receive their salaries in Bitcoin and people like mindrust will realize how big their mistake was. For how long peeps like that will keep refusing to use BTC in credit cards, paypal, amazon, etc.? One - two years max. And imagine mindrust buying satoshis at price around 1mil to be able to buy a vacuum cleaner on amazon? That will hurt a lot!

tl;dr. In case there are still peeps who plan to exit with most of their stash, a word of warning: It is better to sustain a fiat/BTC percentage and never exceed it. For some it is 1/99, for others 33/67 or even 50/50. But everything above 75/25 may and will turn into a disaster. Of course, the ratio is individual and it depends on the age and the plans. For peeps still far from a retirement 0/100 is not bad at all  

[somac.]

This Tesla's liquidity test sell of course a cover-up for turning Q1 to profit for Tesla. But it may have a positive long term impact on the mass adoption among the institutions. Some of them are still hesitant because of the fears of liquidity issues. Even Musk at first raised a doubt about that. And of course, SEC denied ETF's mostly because of the low liquidity of the US exchanges, which makes Bitcoin volatile and susceptible to manipulations. It is like a pop quiz in school. Now everyone has a proof that the liquidity is there and every institution may sell big amounts with a little discount. So, this is another victory on the way to the first ETF's approvals later this year.

But for me at least, there is another major reason for all what happened in the last 6-7 months. In the years of bear market I sometimes expressed regrets about these endless barts caused by the owners and close friends of Bitmex. I remember one post, when I said that the price would had reached 100K in no time if Bitmex didn't exist. I was opposed by r0ach, who claimed that prices above 10K are not sustainable because of the miners profits getting too high. Of course, no need to explain to the moron the elementary things. Coincedence or not, but on that very day, when CFTC accused Bitmex, the barts suddenly stopped. And since then I can't find evidence of derivate manipulation. As a consequence, Bitcoin has become less volatile which is quite appealing for the institutions are billionaires. I will go even further and say that Bitcoin won the war with the derivate manipulations and all these round numbers 100K, 1mil, etc. are just a matter of when, not if. In particular, one day the US government will decide to build and maintain a Bitcoin reserve, followed by governments and financial institutions worldwide. Just imagine that - almost everyone will prefer to receive their salaries in Bitcoin and people like mindrust will realize how big their mistake was. For how long peeps like that will keep refusing to use BTC in credit cards, paypal, amazon, etc.? One - two years max. And imagine mindrust buying satoshis at price around 1mil to be able to buy a vacuum cleaner on amazon? That will hurt a lot!

tl;dr. In case there are still peeps who plan to exit with most of their stash, a word of warning: It is better to sustain a fiat/BTC percentage and never exceed it. For some it is 1/99, for others 33/67 or even 50/50. But everything above 75/25 may and will turn into a disaster. Of course, the ratio is individual and it depends on the age and the plans. For peeps still far from a retirement 0/100 is not bad at all  

Nice post. I myself we be selling zero to very little. I was once upon a time going to sell up to 30%, but that has now dropped down to say no more than 10% and even that is pushing it and would require a parabolic move before the sale. With the world we are going into my decendants will need every one of the bitcoin I can hold onto.

[vapourminer]

How to unsee???

this is the WO. welding goggles for eye protection at a minimum is highly recommended.

[Karartma1]

How to unsee???

this is the WO. welding goggles for eye protection at a minimum is highly recommended.

After too much time on the WO my world is only green (mostly) and red (luckily not as common as green).

Spot on ivomm on your last comment, as usual

[ivomm]

https://twitter.com/KennethDredd/status/1386844294074363905

[Phil_S]

'2x per year' lines update (vs 7-day average):

Hats off to Phil_S  for this chart that sees 2x still hold as of april 2021   (and that the recent insane spike to $60,000 is within the high bound and nothing really special eg is less in relative terms to the $17,000 spike.) For any newbies on this site this chart basically says buy now. Sure, I and some others think the price will resettle in the region of $12,00-$30,000 for a bit so you may not want to go all in at $50,000 which is about where its at today but even if you bought lots very soon (in the next year say) it will all come right in a matter of a 1 year or two after that when you join the the "doubling bandwagon".  GO BITCOIN GO!

Thanks!

Update:

[philipma1957]

So the 70k heslo in 1 month guess is back on the map....

70k by may 1 for sure

[ImThour]

Believe me or not, this single action will get Bitcoin on a new ATH.


https://twitter.com/WisdenIndia/status/1387023106993049605

[vapourminer]

So the 70k heslo in 1 month guess is back on the map....

70k by may 1 for sure

quoted

my lowest buy was like 48.3k this dip, a buy i had set a tick above 47k never went off though. kinda a bummer.

[Parazyd]

Found another Bitcoin price prediction chart today