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

[Gyrsur]

Good morning, WO OG! The recovery is underway and it seems pretty solid. The next 2 weeks will be critical. 

two WEEKS?? man i got things to do. think we can compress the drama down to like, two days instead?

I would rather say: the next two months are critical. 

[vapourminer]

Buy the dip

Selling body parts. What next ?

i can live with only one testicle thanks for the tip, seems like testicle and bitcoin prices are in sync how convenient

TIL 1 BTC = 1 testicle

wonder why exchanges dont have that pair yet.

[somac.]

This is interesting.

So there has been some news regarding the "China bans Bitcoin" that has been doing the rounds and that contributed to the recent dumpfest.

Apparently, the CCP is actually serious this time so the Chinese based miners have all shat their pants and were major sellers during the dump. Not only that they are also now either aggressively moving their operations or selling their mining equipment on mass, at firesale prices as well. We are seeing another significant drop in hash rate right now so it might actually be true, next difficulty adjustment (29th May) is set to be about a 15% decline.

Hm. So this finally flushed the miners and all those "hoarded coins" being used to pump and dump the market? Good.

Apparently so, Nic Carter seems to be pretty sure on this one, we’ll find out for sure ourselves over the coming weeks I guess.

So what happened in May? Weak hands sold ~1M BTC in May at $30k-35k .. which they bought in April at $55k-60k: a staggering ~$20B loss. The good news: these 1M #bitcoin are in strong hands now.

So it's just another shake-out to convince people to sell their Bitcoin cheap, before the bull run continues. Makes sense

I'll have to wait for the weekly glassnode report, but it seems to me that neither miners, nor LT hodlers were involved in the last week's crash.

Nic Carter disputes this with data from one of the on-chain mobs. Apparently the miners (Chinese miners) really sold out, see his recent video for the rundown it’s only 20 min and well worth it.

https://www.youtube.com/watch?v=C5CRAprJcXk&t=1s

[somac.]

[ChartBuddy]

Explanation

[hisslyness]

Buy the dip

Selling body parts. What next ?

i can live with only one testicle thanks for the tip, seems like testicle and bitcoin prices are in sync how convenient

TIL 1 BTC = 1 testicle

wonder why exchanges dont have that pair yet.

Most people will only be able to afford 2BTC on their own.... some 1BTC... unlucky ones, 0BTC...

[ivomm]

This is good. Very good.

[somac.]

This is good. Very good.

Seems like this move will have some legs too.

I'm sure all those sellers were Chinese leveraged (and non leveraged) traders, Chinese miners, and general weak hands. They've buggered off now, the Chinese ones for good maybe, so we should be going back up.

[philipma1957]

Well a nice move over 40k for today would be a start.

Hoping for it.

Newegg is offering a 10% discount if you buy with virtual coins today.

And

 BTC   +15.67%


 LTC       +21.75%
 Doge    +13.52%
 Eth       +23.79%

 all rallied.

Since I mine all of the above I watch them carefully.

Tonight I will be cashing in some ltc to fiat and btc.

[ChartBuddy]

Explanation

[strawbs]

Does anyone get the feeling that we might be about to see a face-melting rise now that the FUD has shaken all the weak hands? I'm pretty excited to see what develops over the next few hours, days and weeks.

[Hhampuz]

Does anyone get the feeling that we might be about to see a face-melting rise now that the FUD has shaken all the weak hands? I'm pretty excited to see what develops over the next few hours, days and weeks.

$75k imminent!

[philipma1957]

Does anyone get the feeling that we might be about to see a face-melting rise now that the FUD has shaken all the weak hands? I'm pretty excited to see what develops over the next few hours, days and weeks.

Not sure if I want melted faces just yet.

But if we were to get to 70k by the end of may my hands would become weak.

As it would be nicer to sell at 70k+ vs 29k or 31k.

I don't like the big swings  that much.

But I have determined to buy low and buy dips no matter what.



Since I am older (64) with no kids holding at large gains is harder to do for me.

[cAPSLOCK]

I'm thinking of buying a 3D printer, and I'm looking at the Anycubic Photon Mono, a resin printer, and maybe a Creality3D Ender-3 V2 for prints that don't need fine details.

I will mostly be printing stuff for model railways in H0 (1:87) scale so the resin printer will be for the small fine detail stuff and the other one for the rest.

They both seems to have good reviews and a reasonable price, do you guys have any comments or experience on these machines that you could kindly share?

Pretty serious 3d printing hobbyist here.  Have owned a few machines.  Since you are talking about printing for fine detail the resin printers are going to be a different class.  But since you bring up the Ender for the other stuff, I had to chime in on that sort of printer...

I have heard nothing but super good things about the Creality Ender, and I naturally an uber-cheapskate.  But I went with the Prusa i3, mainly to build it as a project with my daughter.

From my understanding you do not make many compromises for less than 1/3d the price with the Creality.  It is nearly as fine a printer as the i3.

BUT.

It was worth the extra money to behold the feat of engineering that the i3 is.  It is an amazing thing.  Beautiful design.  Really really awesome engineering.  It is built from parts that it has printed.  Joseph Prusa is an eccentric purist visionary and his products reflect it.

Advantages for paying the extra:

you get arguably STILL the best platform for the price range
you get a large passionate community
there are tons of mods and projects aimed at this platform.  I have printed a couple cool drawers for mine.
the raspi integration is cool.
but most of all you BUILD your printer.

That last one is important because no matter what printer you buy you will be needing to understand deeply how it works because these things need adjustment, maintenance and tweaking.  Having built my printer I know it inside and out, and if something acts funny, I know where all the screws are etc.

That said, I might also get an Ender as a second machine... 3d printing is very fun.

[lightfoot]

I'm thinking of buying a 3D printer, and I'm looking at the Anycubic Photon Mono, a resin printer, and maybe a Creality3D Ender-3 V2 for prints that don't need fine details.

I will mostly be printing stuff for model railways in H0 (1:87) scale so the resin printer will be for the small fine detail stuff and the other one for the rest.

They both seems to have good reviews and a reasonable price, do you guys have any comments or experience on these machines that you could kindly share?

Just got an Ender 3d pro here to print some parts and the like for the miners and cars. Overall I am impressed as hell, thoughts:

Get the Pro, it has a really nice magnetic pad so you can peel off parts more easily and a heated bed.
And a better power supply, no issues with this one even when printing all night long.
Buy the $15 extruder upgrade, the plastic one that comes with it is cheap and a metal one is NICE

That's about it. Good quality device for a few hundred bucks....

[Karartma1]

Does anyone get the feeling that we might be about to see a face-melting rise now that the FUD has shaken all the weak hands? I'm pretty excited to see what develops over the next few hours, days and weeks.

$75k imminent!

$100K
Stack your cheap sats while you can! Thanks Elon

[fillippone]

Observing 38,109@stamp.

Ark Invest Buys $20 Million Bitcoin

Ark Invest, a hedge fund focused on innovative developments, has bought $19,872,939 worth of bitcoin according to a filing with the Securities and Exchanges Commission.

After all, it makes sense to BTFD if you think that corn will eventually get to half a million:

Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000

[El duderino_]

https://twitter.com/SBF_Alameda/status/1396816567954927616?s=20

*what sort of leveraged played a part in the crash?

[luckygenough56]

she seems bright enough to know what she's doing and making up predictions like that

i'd say whatever bitcoin (crypto in general) is as close as a ponzi as it gets of course it will go up eventually big fishs will own 90% of the coins and do whatever they want. As long as there is no flippening or others shites along the road.

i'd be more concerned by the psychological barrier of a price of 500k, who the fuck would buy at this price lol. Of course you can divide bitcoin to new unities to make it more appealing but still

[ChartBuddy]

Explanation