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

[ChartBuddy]

Explanation

[HI-TEC99]

Amazon denies it will accept Bitcoin only exploring crypto.

It was just FUD.

It will be denied right up until the second it goes live.

With that said, I never put any stock in this rumor. The price rise was nice, I guess.

I'm happy with anything above $30k and a nice slow increase in the price over the summer. $30k is great compared to this time last year.

LOL classic bitcoin

I know!  And look at it!  It's clawing it's way right back up... lol.

It was sub £10k a week ago. Anything above £11k is good.

[Torque]

Unpopular opinion:

1. Large well known companies buying and holding large amounts of bitcoin is bullish news. (because it eventually raises the price by taking btc off the market)

2. Large well known companies announcing they will accept bitcoin for goods/services is... well, not really bullish. (because it doesn't actually do that)

Some would say "Well #2 adds to bitcoin's legitimacy in the public's eye." Nations are now making it a legal currency. Tesla bought $1B worth. JP Morgan trades it and says clients can buy it. We have already achieved "legitimacy".

Wake me up when Bezos, Gates, Dimon, and Buffett say they bought several billion worth of bitcoin. Then I might actually get excited.

Until then...zzzzzz.

[JayJuanGee]

https://twitter.com/CryptoWhale/status/1419647049729990657

https://tether.to/tether-responds-to-bloomberg-article/

Today, Bloomberg published an article based on unnamed sources and years-old allegations, patently designed to generate clicks. This article follows a pattern of repackaging stale claims as “news.” The continued efforts to discredit Tether will not change our determination to remain leaders in the community.

Tether routinely has open dialogue with law enforcement agencies, including the U.S. Department of Justice, as part of our commitment to cooperation, transparency, and accountability. We are proud of our role as industry leaders in promoting cooperation between industry and government authorities in the U.S. and around the world. We remain committed to our customers and the industry-leading technology and transparency that has led to our growth.

It is business as usual at Tether, and we remain focused on how to best serve the needs of our customers.

For sure, people wanting to jump on the Tether bashing bandwagon whenever they get a chance, even bitcoiners who should know better than to blanketly consider Tether as if it were some kind of meaningful "bad guy" in this whole situation.

Tether remains the oldest of the stable coins, and sure there are a lot of imitators who are trying to be more compliant with various Government regulators - but probably tether would be more likely to stand up for the ideals of bitcoin and NOT throw bitcoiners under the bus, same with Bitmex and even Binance (yes, I know that Binance has a lot of shitcoin products and also allow pretty outrageous leveraging/margin trading products).. there are desires to vilify these entities and to try to get compliance and to fall in line in order to attempt to create inroads to BTC.. which remains a very difficult thing for various governments and also status quo financial institutions that are seeking to employ more subtle misinformation campaigns and to cause confusion amongst bitcoiners in a variety of ways... when and if possible.

[Millionero]

Something big is about to happen... I feel it in my duodenum.

Nothing like a green dildo in the old duodenum.
#nohomo

[ChartBuddy]

Explanation

[Millionero]

I don't own much stables, a bit of USDT though, will check that now.

For trading I'm still using fiat, however with a stable it would be advantageous because I wouldn't need to declare all my trades to the tax authorities. Is there a recommended stable ? Maybe one of the Euro pegged ones ?

There's trading, and then there's withdrawing.
Most exchanges require kyc to withdraw stablecoins in substantial amounts.  I think you can withdraw DAI from bitfinex without kyc, however.

[savetherainforest]

Oh thank you ChartBuddy didn’t realize we are back in $34,xxx.

Sometimes I forget that f^cking bot is useful sometimes.

I come here mostly for the memes, and occasionally stumble upon the irrelevant price thingy (for now) (that is only good for buying).    

we will all be deeply in love with buddy as it crests pass 70x and over 100x

Well.... I will be prepared to start shouting again to sell & dump when the time comes for the price to be ripe again.    


For now... I guess... HODL!    

[JimboToronto]

Amazon denies it will accept Bitcoin only exploring crypto.

It was just FUD.

FUD? I don't see how rumors that Amazon might accept Bitcoin would spread fear, uncertainty or doubt.

To me it was the exact opposite if FUD.

[ChartBuddy]

Explanation

[gembitz]

TETHER BURNING ALL COINS? :-D WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE LOL

[marcus_of_augustus]

it was the usual bitcoin "buy the rumour, sell the FUD" ... to rally off the correction lows

[gembitz]

Amazon denies it will accept Bitcoin only exploring crypto.

It was just FUD.

FUD? I don't see how rumors that Amazon might accept Bitcoin would spread fear, uncertainty or doubt.

To me it was the exact opposite if FUD.

APE INTO NFTS !!!    WASSUP BRO

[El duderino_]

Good bullish momentum







They had to try something, didn’t they??






El duderino’s eyes where off the charts and focussed on 3* Michelin ‘t Zilte

Cheers


HODLer Mondays…..

[HI-TEC99]

Good bullish momentum







They had to try something, didn’t they??






El duderino’s eyes where off the charts and focussed on 3* Michelin ‘t Zilte

Cheers


HODLer Mondays…..

Does everyone else who works at McDonald's eat 3* Michelin ‘t Zilte? They must pay more than I thought.

[WNTRjon]

Who the fuck are these people taking profits now at $38k. SMH.

Probably the people who can drive the price back down, or people who bought way more than they should hold in the first place.

[JayJuanGee]

Pour one out for that newbie... who had been supposedly seriously contemplating selling and buying cheaper in a bull market that had already experienced a 56% price correction.. and at the time of his/her post very near the bottom of such BTC price correction zone... who knows?  who knows?  but each of us better make sure that we are adequately pee pared for UPpity before we screw around with selling BTC.. especially during a correction in a bull market (even if you happen to be questioning the "bull market" status.. which is what the beartwat manipulators want you to do).

OUCH that has got to hurt selling right at the bottom and now we are rallying up probably above 50k

It seems like we get some of those every single time, and they present their case as if it were the smartest thing in the world to be doing.. selling some and going to buy back cheaper.  Frequently, we do not see those ones again.  Sometimes I find it hard to be nice or to give the benefit of the doubt to those ones.  I recall that we had a couple of weeks of correction in something like March 2017 that brought the BTC price down to about $850, and it was hovering in the $1k arena as a kind of Spring point, and a member posted that he was selling, and he was going to buy back lower.  I said that I thought he was doing the opposite of what he should be doing, but we would see what happens because for sure none of us know what is going to happen - especially in the short term, but sometimes it can get quite dangerous to be selling rather than buying on dips (even though dips tend to be scary while they are happening). 

From the charts, we can see that in that March 2017 case, the BTC prices pretty much went UP from there, and sure, they did not get decisively above $3k until about September 2017, but we also know that so far they have not gone below $3k, either.. so sometimes there becomes a point that the BTC price never every again returns to such a price point.. but at any given price point, we cannot be sure, exactly when that is going to be...... .even though selling on dips or failing to buy more on dips.. do tend to play out as a common theme in which that never to return price point is experienced (unknowingly at the time)...

[ChartBuddy]

Explanation

[cAPSLOCK]

Unpopular opinion:

1. Large well known companies buying and holding large amounts of bitcoin is bullish news. (because it eventually raises the price by taking btc off the market)

2. Large well known companies announcing they will accept bitcoin for goods/services is... well, not really bullish. (because it doesn't actually do that)

Some would say "Well #2 adds to bitcoin's legitimacy in the public's eye." Nations are now making it a legal currency. Tesla bought $1B worth. JP Morgan trades it and says clients can buy it. We have already achieved "legitimacy".

Wake me up when Bezos, Gates, Dimon, and Buffett say they bought several billion worth of bitcoin. Then I might actually get excited.

Until then...zzzzzz.

I agree.  Bitcoin will not be a transactional currency until, and unless the LN network matures and is deployed by vendors.

People are not incentivized to SPEND bitcoin.  There are people who reject the whole "digital gold" NGU thing, and I think some of their logic actually makes some pretty good sense.  I just think they are wrong that this is not a healthy stage for Bitcoin.  It is both healthy and needed.  I strongly believe Bitcoins "transactional" value is going to lag until we see the middle of the S curve insofar as being a reserve asset is concerned.  Until then gresham's law reigns supreme.

After we pass the adoption bellcurve for store of value we will begin to see transactional bitcoin growing.

But a parallel exception to this rule are developing countries.  In a place like El Salvador, they may skip forward to bitcoin as money because they NEED it.  I think these paths can exist in parallel.  And as nations like ES show prosperity because of the inflow of good money other nations with nothing to lose will follow.

In the meantime the smart institutional money will do whatever they can to slow adoption as they accumulate and shift their business strategy.  more and more of them realize it is a land race, and they are almost certainly beginning to take stakes in bitcoin as a reserve asset.  They are INCENTIVIZED to delay the stampede of retail.  Yet they cannot stop it, because they have not chosen to spend the time they HAD to wall off bitcoin from the public, and could not on a global front even if they chose to.  So they are too late.  Also I will be surprised if we make it through earnings season without a handful of companies at least sending up test flares if not outright reporting they will, or have already taken a position.

The central banks are also too late.  These evil fuckers, however, will most likely NOT just capitulate.  It's going to be fun to watch them burn down.  I look forward to seeing the WEF, IMF, and all the other CB stooges on the pyre of history.  I hope the conflict does not get too hot.

[ChartBuddy]

Explanation