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

[El duderino_]

Germany's 🇩🇪 second most read newspaper, F.A.Z, just published this full page #Bitcoin  piece.

"#Bitcoin  Packs a Punch"



https://twitter.com/documentingbtc/status/1406629207438921733?s=21

[1715029455]

1715029455

[El duderino_]

A thing not seen since previous bull market is the big green dildo's after dumps.
Market seems to move slower

Constant FUD, not getting a chance.

Meeeh constant bullish news as well…. Imo more bullish news as bearish, but news isn’t
To relevant imo…  everyone said boring summer, so let us have this boring summer and just go out and do as many activities as possible….

[somac.]

A thing not seen since previous bull market is the big green dildo's after dumps.
Market seems to move slower

Constant FUD, not getting a chance.

Meeeh constant bullish news as well…. Imo more bullish news as bearish, but news isn’t
To relevant imo…  everyone said boring summer, so let us have this boring summer and just go out and do as many activities as possible….

Actually that bullish news is having an effect. It seems those in the West are purchasing plenty of BTC still because of it. Take the German Newspaper photo, the West is really starting to understand what they have here. It's just all the Chinese FUD is making those in the East dump and this is powering over western demand. This is of course a good thing long term but short term it sucks.

[ChartBuddy]

Explanation

[modrobert]

Really, another China ban?

People panic sell and tweet deleted after?

Apparently the FUD still works even after so many times.

This shows how pathetic the market still is.

Oh well, Coca-Cola lost billions in market value after Ronaldo switched a bottle of Coca-Cola with water.

You would think people see through government propaganda by now, after decades of disinformation and lies, but they don't. I want to see fast adoption world wide, but still think anyone completely trusting a government is too gullible for Bitcoin.

[AlexPCS]

https://twitter.com/WuBlockchain/status/1406862916469493760?s=20

Well looks like China was the cause again. I expect we will probably rebound to the 35-36k range by this time tomorrow

What the hell are they up to?


@tier10k
The agricultural bank of china released an announcement saying any customers dealing with crypto will have accounts closed

15 mins later it appears they deleted the notice

2021 getting rugged by the third largest bank in the world
https://twitter.com/tier10k/status/1406872732940308480?s=21

There are rumors they want to have all of the largest chinese banks to publish a press-release about "crypto ban" at once, to have a heavier FUD effect on the market. Did they think nobody would notice that initial announcement from agricultural bank? =) So pathetic.

[LFC_Bitcoin]

@Deltaone
CHINA CENTRAL BANK SAYS URGES BANKS AND PAYMENT COMPANIES TO PROMPTLY CUT PAYMENT CHANNELS FOR CRYPTOCURRENCY TRADING
https://twitter.com/deitaone/status/1406906155264249862?s=21




@Deltaone
https://twitter.com/deitaone/status/1406906155264249862?s=21
*CHINA ASKS BANKS, ALIPAY NOT TO INVOLVE IN CRYPTO OPERATIONS




@btcinchina
The People's Bank of China (PBoC) talked to Chinese banks and payment institutions on the issue of providing services for virtual currency transactions by banks and payment institutions. #Bitcoin 
https://twitter.com/btcinchina/status/1406906728541609986?s=21




@btcinchina
Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank of China, Industrial Bank and Alipay (China) Network Technology Co., Ltd are among the list.
https://twitter.com/btcinchina/status/1406907410564796421?s=21




@btcinchina
These institutions are required to perform their customer identification obligations and must not provide products or services such as account opening, registration, trading, clearing, and settlement for related activities.
https://twitter.com/btcinchina/status/1406907410564796421?s=21




@btcinchina
Institutions must comprehensively investigate and identify virtual currency exchanges and over-the-counter dealers’ accounts, and cut off the payment link for transaction funds in a timely manner;
https://twitter.com/btcinchina/status/1406907412942974978?s=21




@btcinchina
they must analyze the capital transaction characteristics of virtual currency trading hype activities, increase technical input, improve abnormal transaction monitoring models, and effectively Improve monitoring and identification capabilities;
https://twitter.com/btcinchina/status/1406907415337996288?s=21




@btcinchina
https://twitter.com/btcinchina/status/1406907417690927111?s=21
improve internal working mechanisms to ensure that relevant monitoring and handling measures are in place.
Source: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/4273265/index.html

[bitcoinPsycho]

@Deltaone
CHINA CENTRAL BANK SAYS URGES BANKS AND PAYMENT COMPANIES TO PROMPTLY CUT PAYMENT CHANNELS FOR CRYPTOCURRENCY TRADING
https://twitter.com/deitaone/status/1406906155264249862?s=21




@Deltaone
https://twitter.com/deitaone/status/1406906155264249862?s=21
*CHINA ASKS BANKS, ALIPAY NOT TO INVOLVE IN CRYPTO OPERATIONS

Just another storm to weather

[somac.]

@Deltaone
CHINA CENTRAL BANK SAYS URGES BANKS AND PAYMENT COMPANIES TO PROMPTLY CUT PAYMENT CHANNELS FOR CRYPTOCURRENCY TRADING
https://twitter.com/deitaone/status/1406906155264249862?s=21




@Deltaone
https://twitter.com/deitaone/status/1406906155264249862?s=21
*CHINA ASKS BANKS, ALIPAY NOT TO INVOLVE IN CRYPTO OPERATIONS

Just another storm to weather

This is a big storm, effectively stops any Chinese citizen from having anything to do with BTC at all. So having said that, if the drop we just saw is all they can muster from such a big ban the Chinese FUD is almost finished.

Either the market is becoming desensitized or there are very few remaining Chinese who will sell their coins. From this point on all Chinese BTC activity now goes underground or ceases to exsist. The CCP are really fucking themselves over with this one.

[Schnecke]

Isn't this actually great news? No more cheap coal-based mining in china means no flooding the market with their cheap BTC.

[Gyrsur]

As a reminder: The Composite Operator is happily buying your bitcoins big time.




EDIT: ColdBloodedShiller on the current situation.

[somac.]

Isn't this actually great news? No more cheap coal-based mining in china means no flooding the market with their cheap BTC.

Even better. Far fewer Chinese holders.

[LFC_Bitcoin]

@onlyyontv
#China logistics firm in Guangzhou confirms to @CNBC it’s airlifting 3,000kg (6,600lbs) #bitcoin  mining machines to Maryland, USA. Fenghua International advertises products delivered to door, tax on both ends cleared. Price per kilo: as low as $9.37! #cryptocurrencies

https://twitter.com/onlyyoontv/status/1406911193126785026?s=21

[ChartBuddy]

Explanation

[somac.]

mempool filling up again

[ivomm]

I think China's FUD lost its effect on the price in 2017. I am not convinced that the last month dumps are in any way related to China. Miners have a choice to move in another country or to sell their equipment, not their bitcoins. And the banks can't stop the chinese from using a bank abroad. They can't stop bank transfers. The real war is on the derivate exchanges. Another half a billion $ mostly high leverage longs have been liquidated in the last 24 hours. The remaining longs are in agony trying to avoid the liquidation by selling their bitcoins and funding their long positions. By rough estimates more than 20 bil $ longs have been liquidated on all derivate exchanges, since the first crash around 21 May. Clearly the n00bs were thinking "The price is too high to buy on spot exchanges and hodl. Let's then play 100x leverage long." This insanity can't last forever. Either the leverage longsters will empty their fiat reserve, or the leverage shorters will empty their bitcoin reserve. Then the dump will stop and no more FUD can influence the market. It is irrelevant if 30K will hold or not. But for now I find it quite optimistic that the bears didn't break it even once. How many times 10K broke and despite it all, that resistance finally was left behind forever. It is like 2017 was the year 10K was conquered and the next 3 years defended from the cancer called futures and derivates, and moving on. The same will happen with 100K, but may be with a different pattern. I don't believe 100% in Plan B predictions for this year, but to some extent it will fulfill in the next years. Below or above the lines for some time, it doesn't matter. Hopefully, we are all going to witness 100K soon, and not after 2-3 years, when the 2x yearly increase line will reach it.

[Paashaas]

Prepair for total doom.

One major sell-off shaking out the weakest hands on Earth.

[modrobert]

Prepair for total doom.

One major sell-off shaking out the weakest hands on Earth.

I'm watching, and sure, current rate sucks, but look at the resistance around 30k, that's bullish to me.

[somac.]

Prepair for total doom.

One major sell-off shaking out the weakest hands on Earth.

I'm watching, and sure, current rate sucks, but look at the resistance around 30k, that's bullish to me.

That's the thing, the lower it goes the more BTC you get for your money.

[greensheep]

The ccp in general is fucking things up.

https://www.bbc.com/news/business-57549542

This is a big storm, effectively stops any Chinese citizen from having anything to do with BTC at all. So having said that, if the drop we just saw is all they can muster from such a big ban the Chinese FUD is almost finished.

Either the market is becoming desensitized or there are very few remaining Chinese who will sell their coins. From this point on all Chinese BTC activity now goes underground or ceases to exsist. The CCP are really fucking themselves over with this one.