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

[OutOfMemory]

Two interesting news articles, imho.

https://www.coindesk.com/sec-warns-mutual-fund-investors-of-bitcoin-futures-risks

https://www.coindesk.com/fairleads-stockton-bitcoin-correction-42k-technical-analysis

EDIT: $53.5k seems strong as intermediate support today. Who want's to see if the bears are stronger than that? Hint: Not me  

EDIT2: When WO posting frequency correlates with mempool allocation...

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[marcus_of_augustus]

You know its kind of weird. The mempool is essentially empty, transactions of 1sat/vB are going through now, yet there are transactions still being sent at 605sat/vB.

Are these people just dumb as dogshit or is it an exchange sending huge fees at their customers expense in an effort to make it look to people like BTC fees are high?

I can explain this no other way.

Edit: Here's the address that is doing it. Pretty odd behaviour.

https://mempool.space/address/37VbgjzwVrM93g6zQrc4XP5RonpwnwKevj

Most likely a miner processing bogus transactions to himself with inflated fees to try and game the automatic fee estimating wallets into over paying.

[marcus_of_augustus]

... we always have seen some level of retarded speculative frenzy sideshows that spring up in previous bull runs, pyramid scheme games, scamcoins with cult leaders, mining hardware ponzis, etc, etc the list is long ... but the current insane retardedness in valuations of altcoins is a whole new level, I think it is likely because of the mainstreaming effect, the average IQ of new 'crypto' investors is decreasing so a new level of retard in the ancilliary speculative sideshows is somewhat expected I guess

[Biodom]

Interesting, but in stonks at least there is some rationality by retail (apart from GME, etc).
A particular fast money fomoing-retail is attracted to alts, not your regular Joe.

[ivomm]

Every time Bitcoin price fell to the low $54000 and then again pulled back, how long the uptrend will take resume?
Bulls might busy on other side, unless the bulls bought the dips won't see $60K..

There's constant uptrend, and also outflow from exchanges.
Just these regular dumps to certain ranges start to smell fishy, but it can't go on forever.
Some characters take advantage of some kind of manipulation, and regarding the price and periodic aspect, i think it's about accumulation.
More on the conspiracy side, regularly pulling down bitcoin to make it look unprofitable could also be an explanation - could be, but that's all conspiracy theory for sure.

About these dumps, I think it is true - all of it. The same thing happened with 9K-10K range resistance for quite a few months. Now it is slightly different, but not that much. Previously, we had barts every other day, which I suppose were thanks to Bitmex. This was openly and blatantly demonstrated with no fear of being punished until CFTC busted them. Now we have a different pattern, which repeats each day around the same hours. It is like the hat symbol "^". 12 hours of pumping and harvesting longs and then 12 hours of dumping and harvesting shorts. But the other theories are also valid in one way or another. The shitcoin pumps are not an accident. They are pre-planed months ago. For the fulfillment of this plan it is necessary that Bitcoin is not allowed to increase, but to be restrained artificially in some narrow 10% range. That is why historically, the main shitcoin pumps are accompanied by Bitcoin sideways movement. A strong Bitcoin breakout in either direction will put and end to their pumps prematurely and they won't get profits from dumping their own shitcoins on the exact price. In that case, their Bitcoin reserve must be depleted soon and Bitcoin will break the resistance heading to 100K. Every shitcoin will crash 50%+ by then for sure.

[LFC_Bitcoin]

... we always have seen some level of retarded speculative frenzy sideshows that spring up in previous bull runs, pyramid scheme games, scamcoins with cult leaders, mining hardware ponzis, etc, etc the list is long ... but the current insane retardedness in valuations of altcoins is a whole new level, I think it is likely because of the mainstreaming effect, the average IQ of new 'crypto' investors is decreasing so a new level of retard in the ancilliary speculative sideshows is somewhat expected I guess

It’s frustrating marcus but I think in a lot of shitcoins a dozen or so individuals hold a lot of the supply. It’s quite obvious that for example with DOGE, when these big players decide enough is enough & they’re ready to cash out or convert to bitcoin, the whole house of cards will come tumbling down. Let’s be honest most people only play with shitcoins to try & increase their bitcoin stash. Bitcoin dominance will go up massively again in the not too distant future. Let the peasants play with their pennies, bitcoiners always win in the end.

A massive % of the money in shitcoins is going to flow back into bitcoin, we just don’t know when. It will happen though. This consolidation period in King Daddy is frustrating, it’s trying my patience but an explosive move will happen in the next couple of months.

I am bored out of my brain but I would never make any dumb moves.

HODLING is the way, it can be boring during times like this but it always works.

Moon soon boys, soon.

[JohnnyUranus]

big red dildo 

[Biodom]

Bitmex started doing their s-t again? Price lost 2k in minutes.

[proudhon]

Looks like the whole thing's coming undone right now. Get out while you still can.

[El duderino_]

https://twitter.com/elonmusk/status/1392602041025843203?s=21

Tsssssss

[LFC_Bitcoin]

Ahhhh Elon, so that’s why

Probably manipulating the price so he can buy MOAR, the little shit.

[Biodom]

Ahhhh Elon, so that’s why

Probably manipulating the price so he can buy MOAR, the little shit.

wow, what a douche bag.

EDIT: a libelous remark at that, since fossil fuel use is actually declining, not increasing.

[El duderino_]

Btw would Tesla even have sold some cars for btc maybe and just maybe to some og’s whom bought some for the fun of it..... meme-ish....

[El duderino_]

Btw..... power of the tweet 

[El duderino_]

Btw..... power of the tweet 

Meanwhile HODLsleep starts in 5 min cheers

[BTCaesar]

Ahhhh Elon, so that’s why

Probably manipulating the price so he can buy MOAR, the little shit.

wow, what a douche bag.

Now, panic sellers are on the stage as well… Hopefully, the “little shit” will keep his word to not sell any BTC’s but buying MOAR

[UnDerDoG81]

This is what happens when big players get in the game. Extreme market manipulation. This Tesla tweet is perfectly timed in an already dumped weak market. And whales will drive this thing now down to 40k levels. So the big boys can buy more. These ultra rich people are such disgusting. Never get enough.

No worries just hold through this bs.

[proudhon]

This is going to signal the Great Exit from bitcoin. By next week, $50k will be a pleasant dream away from the nightmare that's coming to bitcoin prices. Get ready for sub-$10,000 before the year is over.

[proudhon]

This is what happens when big players get in the game. Extreme market manipulation. This Tesla tweet is perfectly timed in an already dumped weak market. And whales will drive this thing now down to 40k levels. So the big boys can buy more. These ultra rich people are such disgusting. Never get enough.

The big boys are going to exit. A few people unfamiliar with the proven science of bitcoin's failure might trade it on the way down, but this is it. This really is the death of bitcoin.

[BTCaesar]

This is going to signal the Great Exit from bitcoin. By next week, $50k will be a pleasant dream away from the nightmare that's coming to bitcoin prices. Get ready for sub-$10,000 before the year is over.

Oh Proudhon, you are very optimist again. Not before the year is over but I would say that  we must get ready for sub $-10k before the May is over