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

[ChartBuddy]

Explanation

[cAPSLOCK]

I have nothing against boomers, and abhor that phrase.  Almost a boomer myself.  Cusp.  But on the GenX side.  We are a sarcastic generation.

Does thaT COME from dealing with boomers their whole life?
Sarcastic Joke was too low hanging for me not to hit it!

And cynical.

One day the millennials will also be sarcastic and cynical.

It is called growing up.

It takes half a lifetime to realize you were brought up with lies from the beginning.

Well I was raised by a boomer so yuh.

Half a life time? I am 90% dead and just figured it out.

[somac.]

https://twitter.com/100trillionUSD/status/1458890358155268097

Guess he has realised his price target this month isn't going to be anywhere near close.

18 days to go. don't underestimate the badger!

Oh, I don't underestimate it these days. But to get the price to 98 or 93 or whatever it was he was saying would require a very large inflow of funds. Doesn't seem like we have the FOMO type of inflows for that right now.

FOMO can start instantly and take us to $100k in days. Weren't you here with us during the last two cycles?  

Been here since April 2013. But let's not kid ourselves, there is a difference when marketcap is over 1 trillion vs 2 billion. FOMO can and will happen, but a larger marketcap asset like Bitcoin is harder to increase than say a penny stock, or shitcoin.

[ChartBuddy]

Explanation

[jojo69]

It takes half a lifetime to realize you were brought up with lies from the beginning.

[ChartBuddy]

Explanation

[Richy_T]

OT:
https://news.sky.com/story/covid-19-vienna-brothel-offers-customers-30-minutes-with-lady-of-their-choice-in-exchange-for-coronavirus-jab-12464616

What are you supposed to do with the other 29 minutes?

[BobLawblaw]

Voted "No" in the poll. Won't hit $98k before end of Nov. Would be happy to be wrong.

Thinking I'm about done expanding out my Lightning node. Just shy of 100 channels, and think I have things balanced pretty well for the time being.

Now to babysit this bitch.

https://amboss.space/node/03746b93e0b94463624bb28eafa38f3d71b4c80df61a0f10c6340b54f56675487c
https://1ml.com/node/03746b93e0b94463624bb28eafa38f3d71b4c80df61a0f10c6340b54f56675487c

Rick has begin to start learning about the Lightning network, and pretty sure he's settling on Python for his work. Apparently most AI development is done using Python libraries or some shit? I dunno. I'm just the retard caveman with these stupid money-printing rocks.

[ChartBuddy]

Explanation

[JayJuanGee]

https://twitter.com/100trillionUSD/status/1458890358155268097

Guess he has realised his price target this month isn't going to be anywhere near close.

18 days to go. don't underestimate the badger!

Oh, I don't underestimate it these days. But to get the price to 98 or 93 or whatever it was he was saying would require a very large inflow of funds. Doesn't seem like we have the FOMO type of inflows for that right now.

FOMO can start instantly and take us to $100k in days. Weren't you here with us during the last two cycles?  

Been here since April 2013. But let's not kid ourselves, there is a difference when marketcap is over 1 trillion vs 2 billion. FOMO can and will happen, but a larger marketcap asset like Bitcoin is harder to increase than say a penny stock, or shitcoin.

Those kinds of difficulties in moving up easily is a good thing... which also applies to lack of ease in  moving down too and it means that if you look at bitcoin you have way more stability the higher the market cap, but still does not mean that it is too big to be pushed in ways that might be considered as manipulation.. even though I am not wanting to harp too much on manipulation or conspiracy theories because that is ONLY one part of bitcoin..

Bitcoin is 1/10th the marketcap of gold and likely 1,000x the value of gold, so has a ways to get to its potential and beyond since people still do not recognize bitcoin's value and it takes time for such a valuable asset to find its price.. could take 50 years or more?  maybe 126 years to figure it out, give or take 6 months?

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[BobLawblaw]

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[OgNasty]

Feels like we’re back in consolidation mode after clearing some leverage out of the system. Im hoping for some sideways trading throughout the weekend and the start of another leg up next week. The big concern at the moment is the action on Tether and what that could mean. USDT was blamed for the rejection of the spot ETF and has had trading halted on Coinbase. Could have a market effect.

[Arriemoller]

What is it with Fridays and dips?
It used to be the last Friday of the month, now it's every bleedin Friday.

That upgrade to fikka in a hipster joint has got to you.
No more cheap delicacies for you at the discount store.

What is going on in Sweden with the director of finance supervisory authority and the lapdog in environment protection agency trying to get the EU to ban bitcoin. Because energy use might see Sweden fail to meet its climate nonsense target.

Seems more to be that Swedes are keeping cash in their microwaves rather than in the bank at negative interest rates that is worrying the financial guy Erik Thedéen.

So in future we might be saying Sweden bans Bitcoin again! All panic.

The protectors of the fiat system has published an opinion piece where they urge the government to ban or regulate mining in Sweden and, if possible, also in the EU.
Pointing to the shortage of energy and the environmental factor as a cause for their concern.
Most likely nothing will come of this, there is an election coming up and I believe this to be a kind of "finger in the wind" to see if it's something they (the social democrats and the greens) can use to get votes in the upcoming election.
They didn't mention anything about the gigantic server halls that facebook et al. have in the north though. I suppose they run on unicorn farts and are really really necessary for humanity.

Keep in mind, it's not a proposed bill, it's just an opinion piece by two director generals published in one of the major (left leaning) news papers (Dagens Nyheter).

[Arriemoller]

Just one thing in my mind...

Nobody talked/talk here about the release of 140K BTC from Mtgox (should be very soon) ?

I assume it doesn't change the long term view on BTC... But into this bull market cycle (still quite calm and not so explosive as many expected/expect till now) , I am curious to see how the market can react at least on a short time view. Some drop again? 52K? 42K?

On the other hand, we have all the positive fondamental from the BTC side : ETF, GAFA owning BTC (corporate or individuals), legal tenders started in Central-South America... And if we are honest, on 2015 or 2017 we even didn't think about these points. So should be VERY bullish now IMHO.

HODL.

140K coins is not even half of the supply of a year of the current halvening cycle.
About as many coins as are "supplied" by mining are leaving exchanges, sometomes even more, according to on-chain analysis, IIRC.
I put "supplied" under quotes, because miners are also accumulating for future sales, so these coins might get on the market in the future, or not.
Also, i consider the typical MtGox customer as a hodler, so i doubt that every single released coin will be dumped for filthy fiat.

Even if my opinion might have flaws:
We'll see. For me it will be an opportunity to throw spare fiat at low bitcoin prices.

What is it with Fridays and dips?
It used to be the last Friday of the month, now it's every bleedin Friday.

If you survived 2013 with most of your stash (did you?), you will have the patience to sit this out. Turbulences ahead doesn't make a pilot return to the airport.
In 90's hipster slang: Go with the flow  

Yes I survived 2013 with all my stash, that's actually when I got almost all of my stash.
But that doesn't make this bobbing up and down i the 60xxx range any less annoying.
I would be much happier if we bobbed around in the 80xxx range.

[somac.]

Feels like we’re back in consolidation mode after clearing some leverage out of the system. Im hoping for some sideways trading throughout the weekend and the start of another leg up next week. The big concern at the moment is the action on Tether and what that could mean. USDT was blamed for the rejection of the spot ETF and has had trading halted on Coinbase. Could have a market effect.

The old Tether chestnut. I feel for them, always having to drag up that topic to manipulate the price. Thing is they can't really do anything about it, because if they do they will no longer have it as an attack vector. They lost China bans Bitcoin, I'm sure they do not want to lose Tether. If they lose that all they'll have left is Bitcoin is destroying the planet.

[cygan]