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

[JayJuanGee]

Indeed , if we invest 600$ in Bitcoin today, it will turn into 1 Million$ when Bitcoin Price reaches 1 Million and I am confident it will reach there but when, very hard to predict correctly.

Regarding your "when" $1million.

We should realize and appreciate that it would be possible for BTC to reach $1million this cycle, even though it would be a long shot, and it is quite likely that this cycle has less than a year to play out -absent that this  cycle plays out a bit longer, such as up to an additional 18 months from now.

Once we see how this cycle plays out, including figuring out what might be the jumping off point for the next cycle, then we will have some better ideas about whether $1million might be reasonable and/or possible for the next cycle... so yeah, it could make a pretty BIG difference if our top for this cycle were to already be "in and then our jumping off point might end up being $20k or $30k for the next cycle (which seems quite doubtful of a scenario), versus the more likely scenario that this cycle plays out into a $150k to $350k top, and thereafter has a correction and a jumping off point for the next cycle in the $60k to $100k range - which seems to cause $1million to be considerably within reach for the next cycle.

Sure, we can make assumptions about how each of the cycles might play out in order to answer our question of when but I do believe that within the next three cycles seems quite likely for reaching $1million and a bit of a stretch to make it this particular cycle, even if the odds seem to become greater and greater for each upcoming cycle- assuming that these cycles continue to play out.. which there really seems to be little to no evidence to presume disappearance of cycles within the next three cycles, either... at least at this time.

I am coming to the conclusion that in the future it may be best to be able to defend your home/property yourself. I could either buy vast acreage and build a fortress, or buy an island that is easier to protect as the only people coming will be coming by boat...which can be defended against.

you know there are these things called "aircraft" that make a lot of traditional defenses useless.

Panama has no military really. Certainly no airforce, no navy. That's a big reason we (Ocean Builders) moved here.

The likely encounters I would have would be drug runners or natives trying to rob me and burn down my home.

A friend of mine owns a lot of land here and he recently had to pretty much go to war with some of the native tribes invading his land. Guns were all he needed to chase them out, but not after they had burned down the buildings and stolen what they could steal.

I doubt they'll send fighter jets from the US to disrupt my vast operation of living off grid raising a couple of cattle so I can eat steaks.

For the book we're writing about the seastead adventure we were asked "what is the end goal for you living on a seastead free from government?"
Our engineer: "A hyperloop to launch people into space"
Me: "A lemonade stand. Unregulated without any police interference."

You are going to need a pretty damned BIG family (and/or island work crew) to eat a whole cow in 6 months to a year, and frozen beef doesn't really keep very well... in my experience... so if you have 10 people living on the island or maybe more, then you are going to need other kinds of meats, too... seems like, so you end up needing to manage quite a few people and animals and might take some getting used to systems.. and trials and errors to find the right peeps.. assuming that you had already found the right spouse.

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[Wekkel]

I call it 'Elon Gift Day' 



Bought the dip.

[fillippone]

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

Tsssssss

https://twitter.com/digitallawrence/status/1392613613051858945?s=21


Sadly, this is the first time I am truly disappointed by Elon Musk.
Only partially mitigated by the fact I BTFD

[OutOfMemory]

I thought Elon was smart.

Bummer  

But maybe he was smart enough to send down the price just to buy moar.
However, propagating that environmental bullshit story wasn't quite a sign of cleverness in the first place, was it?

EDIT: Saylor hasn't educated him enough, it seems...

* OutOfMemory has no spare cash to buy the dip  

[El duderino_]

[El duderino_]

[El duderino_]

[NotATether]

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

Tsssssss

~

LMFAO. "We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction"

Tsk tsk, that's not how cryptocurrency works. Someone really has to run a seminar at Tesla explaining that as soon as more consumers use a cryptocurrency, more miners will come along which'll eventually bring a similar energy consumption as bitcoin.

[Paashaas]

https://twitter.com/trylolli/status/1392607697501974528

Lmfao, many assclowns will buy this story... but not us, not us . There is no such thing as Renewable energy atleast not yet ! We are working on it !

ik ik, the truth aint a diaper but it stinks to many  

BTW Elon is just doing what everyone has been doing since Bitcoin came out.. i dont know why ya all butthurt cause he tweeting about Bitcoin etc. Miners been manipulating the Market like Elon wouldnt even think of doing.

https://www.youtube.com/watch?v=NfGw8crLcDw

Lithium mining and cobalt mines ran by children in Africa are better for the environment than btc apparently. Tesla charging stations are powered by fossil fuels. Don't buy Tesla!

You must be an idiot 2.0. Ignored.

[ivomm]

https://twitter.com/no_problama/status/1392756219044106245

[eXPHorizon]

https://twitter.com/trylolli/status/1392607697501974528

Lmfao, many assclowns will buy this story... but not us, not us . There is no such thing as Renewable energy atleast not yet ! We are working on it !

ik ik, the truth aint a diaper but it stinks to many  

BTW Elon is just doing what everyone has been doing since Bitcoin came out.. i dont know why ya all butthurt cause he tweeting about Bitcoin etc. Miners been manipulating the Market like Elon wouldnt even think of doing.

https://www.youtube.com/watch?v=NfGw8crLcDw

Lithium mining and cobalt mines ran by children in Africa are better for the environment than btc apparently. Tesla charging stations are powered by fossil fuels. Don't buy Tesla!

You must be an idiot 2.0. Ignored.

Now thats Ironic 2.0

[Sayeds56]

No worries as long as BTC respects 21 Weekly Moving average.

[JayJuanGee]

OK, enough banter for now. Let's talk some business.

The sentiment is that badger is coiling, ready to jump at that delicious hive that looks full of honey up that tree.

I have a fixation with "macro" numbers right now: questions such as the following.

1. "Could 1b USDT 'fix' the daily RSI?"
2. "Over how many days should this money be spread upon?"
3. "How many coins would someone have to sell to push the price down to 50k?".

The reason for this fixation is that I think these instadumps are just whales maneuvering. They want to sweep the leveraged longs so they profit moar with the impending leg up. I'm thinking of a smallish leg, not a 2x. Something around 70k.

My point of view at the moment is all qualitative feeling: there's no serious analysis behind it. Some guy whose analysis I trust said it looks to be floating upwards, but there won't be a real breakout as long as the daily RSI doesn't break out of a downward channel entered in January. Some other guy says it's too expensive and/or risky for any rational actor to bring the price below ~49k: Saylors etc. would swallow the corn in one or two bites.

These "serious" bits of analysis are more quantitative and look better than my qualitative SOMA ramblings. So a few approx numbers from our resident wizards could reinforce my theory or make me throw it away. I know the questions aren't easy, or maybe even interesting enough, but the WO gathers some of the smartest OGs. So - any takers?

Personally, I was about to give you a merit, but it seems to me that you asked too many questions, and surely you would be capable of doing further analysis to answer your presented questions, at least with enough of a framework that may well stimulate further discussion.

So, for example, frequently in a work environment, if you are presenting information to the boss, and if the problem is complex, the boss is going to get pretty damned pissed off if he were to spend an hour reading over your presentation of the problem without having at least some kind of recommendation for a course forward in terms of how to address the problem.  Surely, the boss will appreciate your presentation and analysis way more if you make a recommendation, even if he does not agree with your recommendation.

Also, if you have presented the facts and logic and analysis in a fairly complete way, the boss can end up taking credit for coming up with a solution for your whole presentation because of how well you outlined the problem.  It's a long way of my saying that I am not going to attempt to answer your questions, and I am kind of in this place where I see that we are ongoingly in the UPPER end of the range, and sure at this particular moment (as I type at $50.5k), we are in a decent consolidation area, but part of the "problem", if you want to call it that, is that the BTC price keeps on gravitating back up to the upper end of the range.. $55k to $59k, so unless we do not make another ATH this month, seems to me to be a bit too early to be proclaiming that we are going down - even though the ongoing froth in the shitcoin space seems to be contributing to even more frustrations regarding trying to figure out what is happening exactly and what is likely to happen next.

1. "Could 1b USDT 'fix' the daily RSI?"
2. "Over how many days should this money be spread upon?"
3. "How many coins would someone have to sell to push the price down to 50k?".

My trusted analyst qualitatively hinted that I have too much focus on the short term.
Falling for FOMO am I? Where Lambo? Sh**, I should have bought doge... 

Don't say those kinds of things.

Signs that you are breaking, and our current BTC price predicament surely does not seem to be nearly as "bad" as you seem to be making it out to be.

[LoyceV]

The real question is: how many cars did Tesla actually sell for Bitcoin? Five? Two? Zero?

To quote myself:

I assume all this is only for attention. The Bitcoin mining process is well known and well documented, it's not as if any new information came to light. So I'm sure they knew all this already, which means they have other reasons for saying this now. It could very well be they're buying back the Bitcoins they sold last quarter, and need a price drop for it.

Or to quote my mobile:

Bitcoin doesn't care about that small car manufacturer.

LMFAO. "We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction"

Tsk tsk, that's not how cryptocurrency works. Someone really has to run a seminar at Tesla explaining that as soon as more consumers use a cryptocurrency, more miners will come along which'll eventually bring a similar energy consumption as bitcoin.

Basically, miners convert transaction fees into computing power. The more they earn, the more energy they'll consume. Block halving can't keep up with price increases, so the energy consumption is still increasing.
Maybe Tesla can start accepting Bitcoin LN

[El duderino_]

Good that all the alts are dumping as well, just a matter of time it flows in BTC .....

Hodl on

[mrjoy15]

It dips because of Elon's tweet, how low this time?

Elon Musk is a smart guy, I guess he took profit of his holding and now he wants to dump it so he can start over with a cheaper rate. As dumping continuous our entry 49k/48k/...45k?

[El duderino_]

The only good thing I have seen was ....

TA once again completely flawed, a tweet has more power as best TA’s

Welcome to bitcoin

 

[El duderino_]

[LoyceV]

What's the source of this data? It looks wrong. Digiconomist.net puts Bitcoin at 55.03 Mt CO₂ and 115.85 TWh per year (13 GW on average).

[Lucius]

Sadly, this is the first time I am truly disappointed by Elon Musk.

I am disappointed with the fact that someone could ever be thrilled that EM got involved in the cryptocurrency story, because there was never a word about supporting technology, but only about making a profit. And the latest event just shows why people with so much power are bad for the crypto market - we'll probably read in a few months that EM bought a few tens of thousands more BTC in May, and before that it crashed the price with one tweet.

Maybe send him a link to your thread - although I don’t believe he really thinks what he wrote, and if he does think then he has much bigger health problems than the ones he recently publicly admitted. It would be best for him and his wife to board the first rocket for Mars, of course with a one-way ticket