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

[JayJuanGee]

The battle for $50k seems to be ongoing, but sure, the trade volume does not seem to be very high, at least not so far.

So, as I type this post, within the past 20 minutes king daddy has gotten within $167 of negating such still existing pollening.

[1714673983]

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[1714673983]

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[1714673983]

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[UnDerDoG81]

Why did Binance disable fiat withdrawal?

[El duderino_]

You are going to need more than 0.21BTC then.

Hi JJG: I see you repeatedly mention that figure and I wonder why. I remember years ago it was said to try to get your hands on at least 1 Bitcoin to secure your future . Perhaps 0.21BTC is the new 1BTC? I guess with the increase in demand, and price, with 7 billion people living in the world, having 0.21BTC can secure your future. Is that so? That's the explanation I give but I'm not sure if that's what you mean.

For sure, I am not suggesting that anyone should stop accumulating BTC way premature if they still have the ability to keep accumulating and they have not reached their goals, yet.  The punch line to the current target of 0.21BTC is a kind of realistic acknowledgement that accumulating 1 BTC is starting to become way out of the reach of a lot of people - so we should want to attempt to stay realistic for the vast majority of people in terms of helping them to set reasonable targets that they can reach and then perhaps keep on moving the targets upwardly (if feasible and reasonable) once the lower targets are reached.

There only is one correct answer…..

JJG = wrong  

There is never a target not 1 btc not 0.21….

There is not a goal to reach, there is a manner of lifetime strategy to work out, people just need to realize that BTC is the main asset to HODL on for life and just a thing to work with at any time not something to reach and stop….

You are not really saying anything too much different from me, except perhaps you are aiming at some kind of seemingly blind conviction that fails/refuses to attempt to account for individual particulars including psychology and finances.

In other words, we are not all starting from the same place in terms of our finances nor our psychology, especially in regards to an asset such as bitcoin..

yeah, we can start out with some ideas about "get the fuck off zero" and some of those basics, but then once we get past get the fuck off zero I doubt it is practical to assert that people should go all in.. that is a bunch of bullshit because normies are not going to do it.. and normies are all over the place in terms of their thinking about finances and their practices.. so there is some value in attempting to work with people from where they are at rather than hypothesizing them to already be in some kind of fantasy place that might have been reflective of where you were at when you got started, but even if you look at ur own lil selfie, and if you are honest with ur own lil selfie, you are likely going to appreciate that you were not likely very enlightened at all about bitcoin when you started, and you may well were not even enlightened about yourself and your then financial practices.

Bitcoin can provide a vehicle for any of us to learn more about ourselves and also to figure out what is going to be our investment goals.. and we might well need to stand before we walk, walk before we run, and run before we try aerodynamic moves.  Probably a vast majority of us made some mistakes along the way too, and some of those mistakes have related to ways in which to attempt to tailor our bitcoin investment to ourselves which is not only learning about bitcoin but also learning about ourselves, too.

Are you proclaiming yourself to the be exception?  the one who knew everything right from the start?  that seems a pretty damned rare beast to me, even though I have seen quite a few people proclaiming to have known stuff way before they could have even reasonably known.. the baby genius is also a fantasy rather than a real thing that exists.

Ps:
By the way, don't get me wrong.  A lot of normies are likely to screw themselves out of some potential profits because they end up being quite hesitant, whimpy and lacking in conviction and lacking in front-loading of their BTC investment, but it still does not take away from the fact that the vast majority of people are going to have to build their conviction.. Maybe even someone like Saylor had to spend a few months studying up on bitcoin before he went into BTC pretty damned aggressively from the start (but is he very typical of any kind of normie?  I doubt it).  But even if we attempt to analyze Saylor's initial getting into bitcoin a bit over a year ago, he became more aggressive with the passage of time in terms of just investing cash reserves at the start, but presumptively as he learned more he became more aggressive in terms of figuring out various ways to use debt (or potentially be able to draw from other kinds of seemingly creative debt.. that also is likely very available to the vast majority of normies).. but even Saylor's earliest aggressive use of cash reserves (wasn't it something like 70% from the start?) would be way the hell more aggressive than most normies just getting their foot in the door of a kind of investment like bitcoin and getting their investment level up to between 1% to 10% of their investment portfolio would be challenging to achieve for a lot of normies who are not willing to move so quickly, decisively and aggressively, even if it may have been for their own good to get their investment size up there faster rather than slower.

Bc I didn’t read the whole damn thing 

[ChartBuddy]

Explanation

[JayJuanGee]

You are going to need more than 0.21BTC then.

Hi JJG: I see you repeatedly mention that figure and I wonder why. I remember years ago it was said to try to get your hands on at least 1 Bitcoin to secure your future . Perhaps 0.21BTC is the new 1BTC? I guess with the increase in demand, and price, with 7 billion people living in the world, having 0.21BTC can secure your future. Is that so? That's the explanation I give but I'm not sure if that's what you mean.

For sure, I am not suggesting that anyone should stop accumulating BTC way premature if they still have the ability to keep accumulating and they have not reached their goals, yet.  The punch line to the current target of 0.21BTC is a kind of realistic acknowledgement that accumulating 1 BTC is starting to become way out of the reach of a lot of people - so we should want to attempt to stay realistic for the vast majority of people in terms of helping them to set reasonable targets that they can reach and then perhaps keep on moving the targets upwardly (if feasible and reasonable) once the lower targets are reached.

There only is one correct answer…..

JJG = wrong  

There is never a target not 1 btc not 0.21….

There is not a goal to reach, there is a manner of lifetime strategy to work out, people just need to realize that BTC is the main asset to HODL on for life and just a thing to work with at any time not something to reach and stop….

You are not really saying anything too much different from me, except perhaps you are aiming at some kind of seemingly blind conviction that fails/refuses to attempt to account for individual particulars including psychology and finances.

In other words, we are not all starting from the same place in terms of our finances nor our psychology, especially in regards to an asset such as bitcoin..

yeah, we can start out with some ideas about "get the fuck off zero" and some of those basics, but then once we get past get the fuck off zero I doubt it is practical to assert that people should go all in.. that is a bunch of bullshit because normies are not going to do it.. and normies are all over the place in terms of their thinking about finances and their practices.. so there is some value in attempting to work with people from where they are at rather than hypothesizing them to already be in some kind of fantasy place that might have been reflective of where you were at when you got started, but even if you look at ur own lil selfie, and if you are honest with ur own lil selfie, you are likely going to appreciate that you were not likely very enlightened at all about bitcoin when you started, and you may well were not even enlightened about yourself and your then financial practices.

Bitcoin can provide a vehicle for any of us to learn more about ourselves and also to figure out what is going to be our investment goals.. and we might well need to stand before we walk, walk before we run, and run before we try aerodynamic moves.  Probably a vast majority of us made some mistakes along the way too, and some of those mistakes have related to ways in which to attempt to tailor our bitcoin investment to ourselves which is not only learning about bitcoin but also learning about ourselves, too.

Are you proclaiming yourself to the be exception?  the one who knew everything right from the start?  that seems a pretty damned rare beast to me, even though I have seen quite a few people proclaiming to have known stuff way before they could have even reasonably known.. the baby genius is also a fantasy rather than a real thing that exists.

Ps:
By the way, don't get me wrong.  A lot of normies are likely to screw themselves out of some potential profits because they end up being quite hesitant, whimpy and lacking in conviction and lacking in front-loading of their BTC investment, but it still does not take away from the fact that the vast majority of people are going to have to build their conviction.. Maybe even someone like Saylor had to spend a few months studying up on bitcoin before he went into BTC pretty damned aggressively from the start (but is he very typical of any kind of normie?  I doubt it).  But even if we attempt to analyze Saylor's initial getting into bitcoin a bit over a year ago, he became more aggressive with the passage of time in terms of just investing cash reserves at the start, but presumptively as he learned more he became more aggressive in terms of figuring out various ways to use debt (or potentially be able to draw from other kinds of seemingly creative debt.. that also is likely very available to the vast majority of normies).. but even Saylor's earliest aggressive use of cash reserves (wasn't it something like 70% from the start?) would be way the hell more aggressive than most normies just getting their foot in the door of a kind of investment like bitcoin and getting their investment level up to between 1% to 10% of their investment portfolio would be challenging to achieve for a lot of normies who are not willing to move so quickly, decisively and aggressively, even if it may have been for their own good to get their investment size up there faster rather than slower.

Bc I didn’t read the whole damn thing 

Oh ?  Which part did you read?  My recommendation to be a bitcoin whimp.. hahahahaha..

I do admit that I do tend to emphasize that guys (and gal) should do a decent amount of self-reflection before taking a kind of aggressive BTC front-loading stance, but I also attempt to suggest that people get started right away.. at least in terms of setting up some kind of BTC related account or figure out some ways to get and to hold BTC.. so yeah, if they have no damned clue about what they are doing or why bitcoin and various other distractions (such as the common dumb shit - "what about x, y, z shitcoin?"), then surely I still would say that they just start with something whimpy, such as $10 per week while they figure out their shit.

I had another one of my cousins telling me the other day how he had made a good deal because he got a discount on the 2021 Diesel Dodge Ram truck that he bought in terms of his trade in and the whole transaction was the reason why he had not taken any kind of position in bitcoin since we had spoken in around December 2019... so yeah, sure there can be some some utility in having a good running vehicle and even to use that vehicle for work, but I still question why not both.. or even if the truck was as needed as his passion seemed to be making it out to be... and gosh not even that he is dumb but he does seem to be having some troubles considering how much new vehicles depreciate.. and there is likely some value in having some other kinds of investments with what seems to be some of his decent cashflow.. not all guys in their mid-20s or so are going to be able to buy new trucks.. but not sure if they should either.. even though that is their decision to make, ultimately... most likely payments involved too.. I did not really get into some of the details because we were kind of considering the matter from differing frameworks... ... so where is a guy like that going to start into bitcoin, besides perhaps first getting off zero.. and perhaps $10 per week.. even though we know that he is probably around $1k per month for his truck payments for the next 5 years or so.

[gembitz]

its been fun  weeeeeeeeeeeeeeeeeeee

[Biodom]

Someone being "bitcoin wimp" in the past is OK and would not matter in the slightest when btc would be at $0.5mil (gold parity) if you started smallish and DCAed for a while.
One the other hand, 'front-running' the wimp could be sweet too  

[Biodom]

its been fun  weeeeeeeeeeeeeeeeeeee

you mad, bro?

[serveria.com]

its been fun  weeeeeeeeeeeeeeeeeeee

you mad, bro?

Meme malfunction I guess. On the other hand he's a complete nutjob 100% so yeah there's that... 

[serveria.com]

Why did Binance disable fiat withdrawal?

I guess they disabled fiat withdrawals for individuals with IQ below 10.  

P.S. HODLers not affected.

[B1tUnl0ck3r]

DCAed

sound sexy

[sirazimuth]

.....

Bc I didn’t read the whole damn thing 

Well dude , I cannot tell a lie...I didn't either, however I did read this one complete...

The battle for $50k seems to be ongoing, but sure, the trade volume does not seem to be very high, at least not so far.

So, as I type this post, within the past 20 minutes king daddy has gotten within $167 of negating such still existing pollening.

...and my 1st thought was "uh-oh,  jay must have got hacked! .... he never posts less than a page..."

[Biodom]

Can bitcoin fix Onlyfans?
I wonder what J. Mallers would do?

[ChartBuddy]

Explanation

[B1tUnl0ck3r]

...and my 1st thought was "uh-oh,  jay must have got hacked! .... he never posts less than a page..."

gnark gnark, thanks for the laughter...

[JayJuanGee]

Someone being "bitcoin whimp" in the past is OK and would not matter in the slightest when btc would be at $0.5mil (gold parity) if you DCAed for a while.
One the other hand, 'front-running' the whimp could be sweet too 

Well.. I don't see if there should be any necessity for a competition because guys come to these matters from differing perspectives and even from differing financial statuses.

So likely there would be more utility in considering competing with ur lil selfie and your own circumstances, and surely we should already be able to appreciate that you Biodom had fucked up in some pretty decently BIG ways, and there should be no real problem with the fact that you had actually fucked up pretty BIGGEDly, but the problem becomes that you have been trying to argue as if you had not fucked up. .. and sure, after I read your post another time, I can see that maybe you are backing off of your position a bit to admit that you had been the one who had been somewhat overly whimpy.. so yes that might well be a step in the right direction.. if I might be giving you some benefit of the doubt in that regard, perhaps? perhaps?

For the sake of trying to learn from mistakes, I pretty much already made the comparison of the Biodom who had ONLY lump summed BTC in 2014/2015 to get to about 20 BTC of lump sum investing and sat on his lump summing without further investing along the way, and that Biodom (even if it is not exactly your circumstances) ended up with only 20 BTC, versus another more aggressive Biodom who would have DCA'd into bitcoin at around $100 per week for the next 6 years and could have ended up with an additional 22 BTC with that level of retrospective BTC accumulation aggressiveness. 

Of course, we cannot really know when any one of us would go from a kind of whimpy Biodom status towards a more aggressive Biodom status that included ongoing DCA.. and so ONLY uie pooie can really determine those kinds of determinations of what to do and how to do it for yourself including considering whether there might be anything in your current tactics that you might need to be changed in order to help you to help yourself and your BTC perspectives a weeeeeeee bit MOAR better.

Sure, in recent times (while we were in the lower $30ks), you quite forcefully proclaimed that we are in a bearmarket and you were anticipating BTC prices below $20k and perhaps as low as $15k.. so there is some potential that could be a problematic mindset if you or anyone else had failed/refused to adequately and ongoingly stock up on BTC when we had up to a 56% discount from our mid-April high BTC prices (and likely during an ongoing and not appreciated nor recognized bull market).

Sometimes it seems to me that you have not been learning very well from these kinds of BTC price dynamic things or even how a variety of folks might strive towards BTC accumulation in such circumstances in order to sufficiently and adequately prepare for UP (just in case it happens), so even if you are not able to learn from your own historical screwy perspective and propaganda attempts, maybe some other folks might be able to learn.. at least to attempt to NOT be so wimpy, to make sure that they are MOAR better prepared for the possibility of UP and maybe they will even pass you up in terms of getting to fuck you status before you do, especially since you seem to have had been struggling in some of your own ongoing learnenings regarding what is deeee daddy.

I will admit though, even if you ONLY have 20 BTC versus a hypothetical 42BTC that you could have had with a more aggressive approach, it is still going to be quite difficult for a whole hell of a lot of normie peeps to catch up to, even your whimpy status.. so we can see actual evidence that time in the market has a lot of value that can beat a lot of the other strategies that are coming to the bitcoin party later (even if those later strategies might be better).. and also we know that we cannot change the time that we come to the bitcoin party (especially if we just got here), so we just have to try our best to do what we can in terms of what we perceive to be our own best interest as we come into this space, and hopefully start to accumulate some BTC.. rather than waiting too long on the sidelines.

.....

Bc I didn’t read the whole damn thing 

Well dude , I cannot tell a lie...I didn't either, however I did read this one complete...

The battle for $50k seems to be ongoing, but sure, the trade volume does not seem to be very high, at least not so far.

So, as I type this post, within the past 20 minutes king daddy has gotten within $167 of negating such still existing pollening.

...and my 1st thought was "uh-oh,  jay must have got hacked! .... he never posts less than a page..."

Hahahaha

And, then after you snapped to your senses, what was your second thought?

Asking for a friend.

[B1tUnl0ck3r]

Hahahaha

And, then after you snapped to your senses, what was your second thought?

Asking for a friend.

It was his last and only one...

[Torque]

I am 100% certain that a LOT of professional traders who are newly into Bitcoin made an error because of this particular fake out.  I mean... I suppose I can be wrong about where we are headed and this is a dead cat?  But I doubt it.

This is an over-classic spot on formation at the end of a parabolic run to all time highs.  I guarantee that a LOT of money traded out of this.

I remember seeing Microstrategy announcing new buys over and over during the 3-4 month correction.  And I can remember pros commenting on them sending good money after bad, and pointing out the levels at which they would be under water.

This is not a post saying "HA HA!  Look at the dumb 'professionals!'".  They are good at what they do.  And notice I said "the ones new to bitcoin".  Because the ones that UNDERSTAND bitcoin a bit more were... well, doing what Saylor did.



One more bit of thought...  A lot of really smart professional money got out in the 60 to 45 range. So part of this rally will be them getting back in while they are still at a discount.  It's sort of an implied short squeeze. And for some it is probably as REAL short squeeze.  But others just have money on the sidelines like Raja...  They are going to be buying in more as the price starts to continue to head up, because more of them will be hedging under their sale price that they were wrong.

And Voila.  They were.

Feel free to dig this quote up and post it to embarrass me in 6 months:

We are now entering the next phase of the bullsplosion.  And I think it is highly likely to be the uber-face-melter.

But it won't get quoted.  Because it will be correct.  

Cards face up.  All in.

Love you folks.  

(PS.  I think the real tell will be the volume over the next month or so...  If it stays low then all the above theories were wrong.  If we see it start to build from here???  CCMF)

I agree. I'm not sure to say if volume is really moving up though, more like leverage is coming back. And that's the problem with excessive leverage, it masks the underlying true volume. We also see hashrate edging up, which is a good and positive sign.

Could this be a massive head fake bull trap that merely forms a double top? Yeah, maybe. But as you indicated, the Michael Saylors and Elon Musks of the world weren't exactly sweating the fall into the $30k's or below. And Saylor, Dorsey, and Wood were actually buying more during that time, a lot more. It was almost as if they knew something that we didn't, that there was a floor...hmmm...insider information must be great when you are wealthy. Lol.  

[tersek]

waiting btc $ 50k

The battle for $50k seems to be ongoing, but sure, the trade volume does not seem to be very high, at least not so far.

So, as I type this post, within the past 20 minutes king daddy has gotten within $167 of negating such still existing pollening.

...and my 1st thought was "uh-oh,  jay must have got hacked! .... he never posts less than a page..."

this is Jay's shortest post I've ever seen

[Biodom]

jjg, you got it exactly backwards...as usual.