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

[ChartBuddy]

Explanation

[modrobert]

That is a really good movie, I have to see it again soon.

Yes, Das Boot is great, genuine suspense, just like Wall Observer. In this metaphor I picture Bitcoin ATH as the surface, and we are all in this sub together as it dives, suspense increases the deeper she goes. The FUD are depth charges detonating close to the hull, government destroyers circle around at the surface, everyone braces...ping...ping...sonar searching...silence...phew, over for now....still here.

The only thing I didn't like was the ending, did she have to sink?

IIRC, she doesn't sink until they abandon her at the harbor (guess that would be true for Bitcoin as well if everyone stopped using it).

[LoyceV]

I remember reading a prediction earlier this year (but can't find it back), saying that Bitcoin would first have to drop to $30k before going back up.
Well, at least we're half way there now

[Cryptotourist]

I remember reading a prediction earlier this year (but can't find it back), saying that Bitcoin would first have to drop to $30k before going back up.

[ChartBuddy]

Explanation

[Krimster]

Not looking good for the 30k support. Hashrate keeps droping and we do not know when it will recover. Volatility could (and likely will) go over the roof if it is broken.

[Karartma1]

https://twitter.com/bitcoinstimulus/status/1406980778752462851?s=21

Out of merit, this deserves at least ten and I should make a t-shirt out of it 
I'd be the best boy on the beach then.

[BlackHatCoiner]

New poll, please!

Question: Is ChartBuddy an A.I?

[AlcoHoDL]

I remember reading a prediction earlier this year (but can't find it back), saying that Bitcoin would first have to drop to $30k before going back up.
Well, at least we're half way there now

This is something that should make all of us very happy. $30k will not be here for very much longer, so we'd better make good use of it while we still can. I'm talking mostly about noobs, but it applies to anyone with some fiat to spare.

The way I see it is this:

1. Bitcoin is practically guaranteed (math, science and all) to reach 6 digits and beyond. $1M/BTC is a perfectly normal and expected (actually inevitable) price level. Bitcoin has to reach $1M/BTC, or else it won't be able to take the position and role it's been designed to take (i.e., as the primary store of value of the world).

2. Many big players (Saylor et al.) are accumulating BTC like crazy. And it's not just Saylor. There must be other big players that don't want to advertise their actions. Saylor is not only a HoDLer, but has risen to be a major Bitcoin evangelist, a more pragmatic, less scientific, more digestible version of the charismatic Andreas Antonopoulos. The latter is the scientist, the former is the engineer. Both are needed, both are right. Not many people want (or can) take that role, but they can buy BTC, and they do.

3. Given (1), dips shouldn't worry us at all. Given (2), we should be buying any amount of BTC we can afford. Bob's degenerate buying spree of $500 a pop when he's already a multi-millionaire may seem illogical (it does/did seem like that to me too), but he knows what he's doing. It will be fun to see those $500 grow to $10k each, and beyond.

tl;dr: We are going through what could be the last deep 5-digit BTFD in Bitcoin's history. Worried? See (1) above. What to do? Apply (3), sit back, relax, and enjoy your wealth growing in your sleep (good one, Warren Buffett). Wanna buy 75" TVs and shit? Go ahead, but don't cry like a little girl later on -- I'm sure those pepperonis were really tasty. Damn, that's some fucked up tl;dr as I'm referring to the main text...

[ChartBuddy]

Explanation

[Wekkel]

Well, we are finally out of Alt Season: https://www.blockchaincenter.net/altcoin-season-index/

That's a good signal, but first more squeezing to go (out of precious altcoins).

[serveria.com]

I remember reading a prediction earlier this year (but can't find it back), saying that Bitcoin would first have to drop to $30k before going back up.
Well, at least we're half way there now

This is something that should make all of us very happy. $30k will not be here for very much longer, so we'd better make good use of it while we still can. I'm talking mostly about noobs, but it applies to anyone with some fiat to spare.

The way I see it is this:

1. Bitcoin is practically guaranteed (math, science and all) to reach 6 digits and beyond. $1M/BTC is a perfectly normal and expected (actually inevitable) price level. Bitcoin has to reach $1M/BTC, or else it won't be able to take the position and role it's been designed to take (i.e., as the primary store of value of the world).

2. Many big players (Saylor et al.) are accumulating BTC like crazy. And it's not just Saylor. There must be other big players that don't want to advertise their actions. Saylor is not only a HoDLer, but has risen to be a major Bitcoin evangelist, a more pragmatic, less scientific, more digestible version of the charismatic Andreas Antonopoulos. The latter is the scientist, the former is the engineer. Both are needed, both are right. Not many people want (or can) take that role, but they can buy BTC, and they do.

3. Given (1), dips shouldn't worry us at all. Given (2), we should be buying any amount of BTC we can afford. Bob's degenerate buying spree of $500 a pop when he's already a multi-millionaire may seem illogical (it does/did seem like that to me too), but he knows what he's doing. It will be fun to see those $500 grow to $10k each, and beyond.

tl;dr: We are going through what could be the last deep 5-digit BTFD in Bitcoin's history. Worried? See (1) above. What to do? Apply (3), sit back, relax, and enjoy your wealth growing in your sleep (good one, Warren Buffett). Wanna buy 75" TVs and shit? Go ahead, but don't cry like a little girl later on -- I'm sure those pepperonis were really tasty. Damn, that's some fucked up tl;dr as I'm referring to the main text...

Man this is a kind of bullish/hodl posting everybody needs right now. Fuck bears, fuck China! HODL!  Hodl strong brethren! 

[somac.]

I remember reading a prediction earlier this year (but can't find it back), saying that Bitcoin would first have to drop to $30k before going back up.
Well, at least we're half way there now

This is something that should make all of us very happy. $30k will not be here for very much longer, so we'd better make good use of it while we still can. I'm talking mostly about noobs, but it applies to anyone with some fiat to spare.

The way I see it is this:

1. Bitcoin is practically guaranteed (math, science and all) to reach 6 digits and beyond. $1M/BTC is a perfectly normal and expected (actually inevitable) price level. Bitcoin has to reach $1M/BTC, or else it won't be able to take the position and role it's been designed to take (i.e., as the primary store of value of the world).

2. Many big players (Saylor et al.) are accumulating BTC like crazy. And it's not just Saylor. There must be other big players that don't want to advertise their actions. Saylor is not only a HoDLer, but has risen to be a major Bitcoin evangelist, a more pragmatic, less scientific, more digestible version of the charismatic Andreas Antonopoulos. The latter is the scientist, the former is the engineer. Both are needed, both are right. Not many people want (or can) take that role, but they can buy BTC, and they do.

3. Given (1), dips shouldn't worry us at all. Given (2), we should be buying any amount of BTC we can afford. Bob's degenerate buying spree of $500 a pop when he's already a multi-millionaire may seem illogical (it does/did seem like that to me too), but he knows what he's doing. It will be fun to see those $500 grow to $10k each, and beyond.

tl;dr: We are going through what could be the last deep 5-digit BTFD in Bitcoin's history. Worried? See (1) above. What to do? Apply (3), sit back, relax, and enjoy your wealth growing in your sleep (good one, Warren Buffett). Wanna buy 75" TVs and shit? Go ahead, but don't cry like a little girl later on -- I'm sure those pepperonis were really tasty. Damn, that's some fucked up tl;dr as I'm referring to the main text...

Man this is a kind of bullish/hodl posting everybody needs right now. Fuck bears, fuck China! HODL!  Hodl strong brethren! 

+ 1 million.

And after I read these posts I decided to add, what I think, is an appropriate signature to my avatar.

[ImThour]

Hey Fellas,

I am from the Future.
Bitcoin already reached above $100k in 2021 itself.

We all are laughing about the FUDs which happened in May-July of 2021.
One good thing, we got rid of China's dominance in Crypto Market.

$121,145 is a strong support as of today (18th February, 2022).
Good Luck, look at the bigger picture. 

[ivomm]

30K is still alive! 

[Lucius]

2. Many big players (Saylor et al.) are accumulating BTC like crazy. And it's not just Saylor. There must be other big players that don't want to advertise their actions. Saylor is not only a HoDLer, but has risen to be a major Bitcoin evangelist, a more pragmatic, less scientific, more digestible version of the charismatic Andreas Antonopoulos. The latter is the scientist, the former is the engineer. Both are needed, both are right. Not many people want (or can) take that role, but they can buy BTC, and they do.

I agree with most of what you wrote, but I personally don’t like that individuals accumulate so much BTC despite being distinctly bullish at the moment - because it’s known what Saylor thought about BTC back in 2013, and I can never rule it out the possibility of him changing his mind again - because he is, after all, just a man trying to make as much profit as possible.

What Bitcoin needs is more decentralization, which is just the opposite of people like Saylor or Musk becoming his trademark.

[ImThour]

[heslo]

Not looking good for the 30k support. Hashrate keeps droping and we do not know when it will recover. Volatility could (and likely will) go over the roof if it is broken.

At least if the hash rate doesn't come back online difficulty will once again adjust and everything will be ok with the world again; the beauty of bitcoin in how it was structured.

That being said I'm sure the hash rate will come online again, too much money spent on the miners themselves to just stop, I'm sure they're getting relocated to other parts of the world

[somac.]

2. Many big players (Saylor et al.) are accumulating BTC like crazy. And it's not just Saylor. There must be other big players that don't want to advertise their actions. Saylor is not only a HoDLer, but has risen to be a major Bitcoin evangelist, a more pragmatic, less scientific, more digestible version of the charismatic Andreas Antonopoulos. The latter is the scientist, the former is the engineer. Both are needed, both are right. Not many people want (or can) take that role, but they can buy BTC, and they do.

I agree with most of what you wrote, but I personally don’t like that individuals accumulate so much BTC despite being distinctly bullish at the moment - because it’s known what Saylor thought about BTC back in 2013, and I can never rule it out the possibility of him changing his mind again - because he is, after all, just a man trying to make as much profit as possible.

What Bitcoin needs is more decentralization, which is just the opposite of people like Saylor or Musk becoming his trademark.

Decentralization of ownership of coins is not going to happen. It's against human nature, and is the reason things like comunisim came to be and the reason why they fail.

That's ok though because ownership of coin is not that important in the decentralization story. Preventing control over the protocol is where decentralization matters and as we have seen recently, no matter the price, no matter the bullshit of regimes like the CCP, Bitcoin itself continues on without issue. It has and will always allow anyone, without prejudice, the ability to transact.

[somac.]

Not looking good for the 30k support. Hashrate keeps droping and we do not know when it will recover. Volatility could (and likely will) go over the roof if it is broken.

At least if the hash rate doesn't come back online difficulty will once again adjust and everything will be ok with the world again; the beauty of bitcoin in how it was structured.

That being said I'm sure the hash rate will come online again, too much money spent on the miners themselves to just stop, I'm sure they're getting relocated to other parts of the world

Of course they will come back online again. Do people think these chinese miners are just going to throw the equipment in the bin. At the very least they will sell it.

I should also add that hasrate has been hovering around 100 EH/s since the latest mining ban announcement. I think that's it, they've all been shutdown now.