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

[AlcoHoDL]

Both buying and selling ……  

Yeah, smart people buy, idiots sell. The great digital wealth transfer at play.

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[somac.]

In other words, traders and fudsters are trying to persuade us that the fair market cap of Bitcoin is equal to eth market cap a month ago?!? Really?!? Even if 30K is breached for some time, so what? Moar buying of course!

What a joke right.

I mean lets think about things for a moment. Is the constant printing of fiat currency going to stop from here on? No? well BTC will be back to its highs again in the future. It's that simple.

[modrobert]

Both buying and selling ……  

Yeah, smart people buy, idiots sell. The great digital wealth transfer at play.

More like day trading when the boat is taking in water to plug the leaks.

[Lucius]

$30k has finally been broken, now the question is whether we will return above that level or the price will still melt - and given the temperatures that some of us are experiencing these days, this will be a really very hellish summer

[JayJuanGee]

Question: Is ChartBuddy an A.I?

No.

It's a real peep.

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.

Part of decentralization is anyone can do whatever the fuck they want, including attempting to corner the market.

If you do not like that Saylor is trying to corner the market, or that Musk could attempt to corner the BTC market if he were to want to, then better either get the fuck out now, or make your own efforts at cornering whatever portion of bitcoin that you can manage to corner with your $500 worth of fiat.

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[edited out]

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.

Hahahaha

You are correct somac.. I hate to say it...

But anyhow, if this were proof of stake, rather than proof of work, we might need to concern our lil selfies a wee bit more with cornering the BTC market attempts.

Otherwise, who gives any shits about how many coins Saylor, Musk or some BIG custodian like Coinbase or some other one(s) have?

30K is still alive!  

30k support be like.....

Gotta quote my lil selfie here (I hate when peeps do that.. sometimes u gotta do what's u gotta do):

I’m gonna wake up to sub 30k aren’t I?


This sucks man, really does.

Get a grip, LFC...

Just gotta say... You have broken the threshold.

Just remember:  >>>>BTC = all fun and games, until someone's eye gets poked out.<<<<

[Hueristic]

 That made me laugh so hard.

Killed me as well!

https://www.youtube.com/watch?v=ke3ua0kLhYA

[modrobert]

One thing is certain, I will not die from boredom anytime soon, roller coaster to hell.

[somac.]

This drop might be like the one from 6k to 3k in 2018. Reckon it won't get any lower than 20k though and that will be the end of the drops.

Mempool getting a work out on these dips. Weak hands transferring coins to an exchange I guess.

[suchmoon]

Happy parity day!

[modrobert]

this drop might be like the one from 6k to 3k in 2018. Reckon it won't get any lower than 20k though and that will be the end of the drops.

The only barrier/bottom which proven to hold several times in the past weeks was $30k (well, technically it had a spike down into 29k that lasted a second), for me it's unknown territory below, have no clue or sense of direction. Starting to understand how the vikings must have felt when they believed the world was flat and they would sail over a cliff one day, but still kept going in the same direction, discovering new territory, exciting as hell.

[Philipma1957cellphone]

I grabbed some corn today.

Will get more later.

[somac.]

this drop might be like the one from 6k to 3k in 2018. Reckon it won't get any lower than 20k though and that will be the end of the drops.

The only barrier/bottom which proven to hold several times in the past weeks was $30k (well, technically it had a spike down into 29k that lasted a second), for me it's unknown territory below, have no clue or sense of direction.

Who knows where it will stop, but in the end the inflows will match supply eventually and the lower the price goes the easier it is for it to do that.

[ChartBuddy]

Explanation

[cAPSLOCK]

And in a decades time my immediate response when someone says I was lucky, will be to punch them in the face. This shit ain't easy, but it does pay off.

Yeah.  I do not know how we will ever win that argument.  It is kind of a "had to be there" thing.

They may never know what balls it took to hold through all the swings.  Even though the reason they never bought in was they did not have those balls.

It is comforting that Bitcoin, as inevitable as it is, is just not obvious enough EVEN STILL for the masses to get in and stay in.  It's that adoption graph.  Lots of those folks will be calling us lucky as they buy their first sats to be able to easily pay for their coffee.

I am typing this message on a computer that runs Arch Linux.  Some of my technical friends even will say, man why do you run that off the wall OS?  They do not realize that if they use an android phone, a MAC or ANYTHING on the internet that they TOO are running a *nix OS.

I think bitcoin will be like that too.  Strike is the first hint.  People using bitcoin, but not actually even knowing it...

We are kind of lucky though...

[suchmoon]

The dip broke ChartBuddy. Look at those bald spots. Get some vitamins, buddy.

[vapourminer]

One thing is certain, I will not die from boredom anytime soon, roller coaster to hell.

hey "number only go up" is cool and all but the real thrill is the terrifying drops. i mean thats half the fun right there. enjoy it.

[JayJuanGee]

I'm bullish, but more in the longer run. In fact this change would make an S-curve (a.k.a. "no more cycles") a bit more likely than not, imo.

huh? 
We have been in an exponential s-curve since BTC first got a price in mid-2010, so I am having some troubles with projections that bitcoin is not going to have major corrections in the future. I thought that this particular correction (the one that we are in right now) would have taught some folks to move away from their bullshit theories about supercycle blah blah blah...

Sure when we zoom out, we are still going to see what appears to be an exponential curve and what appears to be a kind of supercycle, but likely no where near where lots of pie in the sky peeps are imagining.

$1M/BTC within the next 10 years.
$5M~$10M/BTC within the next 20 years (or sooner).
$50M/BTC within the next 30 years (or sooner).
$100M/BTC within the next 50 years (more or less before the end of the century.)

Didn't you go a little far? The future is uncertain.

That seems a wee bit conservative in terms of a projection of reasonable likely bullish case scenarios.. and sure, of course, should prepare for bear scenarios, too.

$1million could happen this cycle... but sure.. more likely the next cycle.. but still the next cycle is going to be 5 years, so if we give it even another cycle, that is 9 years.. hard to not see something close to or exceeding $10million in the next 10 years.

Dazzles me every time that someone, somewhere is selling at -50% from ATH

Don't get dazzled.

That is not a good place to be.

Shake it off greensheep.

Shake it off.

[UnDerDoG81]

Crypto is death comments starting to Pop up everywhere. This time for real? 

[Paashaas]

Weekly RSI dropped below 40, same happend in 2015, 2018 and last year during Covid crash, price went up after.

Ultimate buying opportunity here.

[modrobert]

We aren't out of it yet, but feels like the repairs are working.