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

[ChartBuddy]

Explanation

[Shamm]

Crazy, crazy crazy
 

[ChartBuddy]

Explanation

[philipma1957]

Who’s selling at bottom ?

Or at -38% ?

Anything from here to lower is considered very very weird to say the least

Just got a my buy $50 a day in btc going on and on and on.

I will hopefully get out of the 1-10 btc status by Jan 1 2023.

Every time I read about someone cracking the 10btc mark, I'm forced to think about mindrust. He was so proud of his 10   ...for a few days.

Please note: Not a comparison to you! I read you are mining shit for bit, and that you most likely have a totally different approach to Bitcoin than him.

If I get to ten coins by Jan 2023 I will be approaching my 66th birthday.

I would be looking to opt out of btc and the game in 2027.

So I am not dropping out like mindrust did 😊

We have four guys in on this.

64 me
58 warehouse owner
44 buysolar my partner since 2014
24  son of warehouse owner.

once the solar array is in place at the warehouse this spring or summer. The mine will always make profits.

Oh we may not be like 2021 profits but we will always make profits.

I don't quote myself often but this is a 350kwatt solar array on 6 building complex in a ware house district.Use 2 factors for average hourly power rates 5 and 6

If you live on the equator in a sunny desert you can do facts of 4.5 to 5 in NJ 5 and 6 are the numbers to estimate what you will generate.

 It will make:

 350/6 = 58.33
350/5 = 70.00

58.33 to 70.00 kwatts an hour 24/7 all year round .

It is about 3 acres of roof top.  So BTC effectively allows for a bigger demand of power which allows us to go to 350kwatts.

This means a 115kwatt array can be a 350Kwatt array.  So BTC is creating new farm land out of empty roof tops.

Not every state is as good as NJ to do this but quite a few are.
The mining we do at the site has been burning plenty of dirty power since 2018 but now we will be able to build the larger array. When you calculate all the numbers for the cost of that 58.33 to 70.00 hourly kwatt produced. The cost rate is under 5 cents per Kwatt for the next 20 years if we roll backwards to lesser mining profits. If we surge in mining profits for 2022 we could drop the cost rate down to 4 cents a kwatt for the next 20 years.

Will we get rich with this build no. We need 2 megawatts not 350Kwatts  and we need investors with longer time lines than 1 or 2 years.

Not soliciting here. Just showing ways to acquire BTC.

BACK to what 70kwatts of hourly  power earns right now.
 it is 58.33/3.4 = 17.15 s19's
 it is 70/3.4 = 20.58 s19's

say 19 s19's doing 100th  = 1900 th that is .2558 x 1900 = 486 a day and you burn 1680 x 0.05 = 84 a day

you make 402 a day or close to 31 or 32 cents a kwatt earns and 5 cents burned.

peak numbers this year were more like 900 a day - 84 = 816 a day profit.

worst numbers in summer 2020 were 247 a day - 84 = 163 a day.

So the more days earning 816 a day profit the faster the array pays off.

and of course the more days earning 163 a day profit the slower the array pays off.

If mining fully truly dies the power can be sold to local neighbors at 171 a day - 84 = 87 a day profit.

So worst case is BTC dies and we take a longer time to pay out.  Still make money. Just slower.

it is why we spent back so much coin to set it all up. But even if all coins fail the fact will always remain BTC allows the build of the 350 kwatt array.

Once it is done the next step will be hooking up with some PA investors. We need to see how it works out.  All in good time.

It's why I know I am not going to be like mindrust.

[ChartBuddy]

Explanation

[Biodom]

Once it is done the next step will be hooking up with some PA investors. We need to see how it works out.  All in good time.

What's a PA investor-the one from Pennsylvania?
I know PE (private equity), don't know PA, unless it is, indeed, the state..

[El duderino_]

I'm seeing a lot of signs of long term weakness and some signs of short term strength in the market.  This is usually the opposite of what I'm used to seeing.  I'd remain cautious here.  Price models are starting to break and the focus is turning to things like NFTs and coin burns while DeFi is still going strong even after the latest crash.  There isn't a whole lot of reason to be bullish on Bitcoin here in my opinion, but we haven't seen the multiyear blow off top that we typically see, so that remains the hope for a target.  I think it would be wise to have an exit plan ready if the right opportunity presents itself and starting to familiarize yourself with ways to earn a return from your crypto other than by 'price go up' might be a good idea.

No reason to be Bullish on BTC?

*banks offering exposure to BTC
*more and more adoption
*more and more billionaires admitting HODLing
*more merchants accepting
*El Salvador currency with more countries looking close
*list can go on for a full page or 3-4…..

Models don’t mean anything to Hodlers as anything can change rapidly
Models are just a fun read and a hopium shot if there bullish, negative models I don’t know… always just skip them, like a bad movie or something

[Erumo]

Every time I see Bitcoin price goes down, this picture warms my heart

[shahzadafzal]

I'm seeing a lot of signs of long term weakness and some signs of short term strength in the market.  This is usually the opposite of what I'm used to seeing.  I'd remain cautious here.  Price models are starting to break and the focus is turning to things like NFTs and coin burns while DeFi is still going strong even after the latest crash.  There isn't a whole lot of reason to be bullish on Bitcoin here in my opinion, but we haven't seen the multiyear blow off top that we typically see, so that remains the hope for a target.  I think it would be wise to have an exit plan ready if the right opportunity presents itself and starting to familiarize yourself with ways to earn a return from your crypto other than by 'price go up' might be a good idea.

No reason to be Bullish on BTC?

*banks offering exposure to BTC
*more and more adoption
*more and more billionaires admitting HODLing
*more merchants accepting
*El Salvador currency with more countries looking close
*list can go on for a full page or 3-4…..

Models don’t mean anything to Hodlers as anything can change rapidly
Models are just a fun read and a hopium shot if there bullish, negative models I don’t know… always just skip them, like a bad movie or something

That's exactly what's happening first banks tried to kill bitcoin and failed miserably. Now They're embracing it... just a day back I read this news

"German Savings Bank To Offer Bitcoin Trading: Report
Sparkasse, a German savings bank, is working to implement a bitcoin trading offering for its 50 million customers.
https://www.nasdaq.com/articles/german-savings-bank-to-offer-bitcoin-trading%3A-report"

What ever the banks or governments do eventually they will follow bitcoin but for some it will be too late.

[ChartBuddy]

Explanation

[redhack]

Every time I see Bitcoin price goes down, this picture warms my heart

https://i.imgur.com/E2cWs2V.jpg

You expect bullish January then? Hope this graphic repeat itself. That way we can see 130k-270k next year.

[Hueristic]

https://imgur.com/gallery/zWAA80O

[shahzadafzal]

Reporting done right!

Or just right click > save image to save yourself $$$.

[bct_ail]

That's exactly what's happening first banks tried to kill bitcoin and failed miserably. Now They're embracing it... just a day back I read this news

"German Savings Bank To Offer Bitcoin Trading: Report
Sparkasse, a German savings bank, is working to implement a bitcoin trading offering for its 50 million customers.
https://www.nasdaq.com/articles/german-savings-bank-to-offer-bitcoin-trading%3A-report"

What ever the banks or governments do eventually they will follow bitcoin but for some it will be too late.

One reason to cancel an account with this bank.  

[dragonvslinux]

You might disagree with his focus (albeit not completely) on alts, but this is overall a very decent guy (Tyler aka Chico Crypto), imho.
Burned out.
https://www.youtube.com/watch?v=0_FWxlKRYBc

Thanks for sharing it's an interesting situation, I also do feel sorry for the guy, but there is another important message here. I know he was mainly invested in shitcoins, and was very good at picking out projects that were undervalued and performed well, but seems like he held a lot through the past 6 months continuing to believe they would outperform Bitcoin while rarely taking profits, and the likelihood is half of them didn't, given that shitcoin dominance remains at it's highs as opposed to gone higher. Hearing that he held Chainlink all this time was somewhat sad to hear, it went up 20x in 2020 against BTC after getting into the Top 10, but now 75% down and struggling to remain in the Top 20. It's personally the coin that I most aggressively sold satoshi profits on in 2020 and now only hold 1.5% of what I did after selling half of it about 6 times, because I had no emotional attachment to it.... It's now hanging on by a thread at the 200 Week MA against BTC and clearly has the potential to drop 90%, just like Solana, Luna and others that had their 50-100x rises. That said, getting all out of a shitcoin at a 5x before price crashes 90% or more, during it's first cycle, is better profits than selling 2x at every double for sure, but naturally feels very different, even deafest I imagine. For example taking 50% profits, then price dropping/pumping, then 50% more, then price pump/drops, rinse & repeat, feels like a good strategy. Getting all out after a 75% drop must feel awful, even if more profitable.

This video was also a stark reminder of how parabolic the shitcoin market has become, how "expensive" many of these coins have become, so many examples out there right now. Some have already retraced 75% and look like they can do it again, for example Link and Doge, while others haven't even begun their retracements yet. The fundamentals appear obvious that Bitcoin dominance will bounce back from 40% to 50%-60%, now that it's 200 Week MA has finally shed it's bearish bias and flattened out for the first time ever (which took 3 years), whether this is from a recovery and bull market (I assume) or a bear market (less likely). I know I've been saying this since May and again in September, but I'll reiterate it this month, even if the technical picture of a descending triangle looks bearish. Shitcoins are overdue for considerable carnage.

Furthermore, while I see enough analysts comparing current prices to $3K or $5K in 2017, if they are right and Bitcoin prices make new ATH in the near future, because this is the middle of the cycle, then it stands to reason the same event will occur when Bitcoin goes up by X amount, along with it's dominance, while shitcoins get dumped for fiat or BTC. It also seems that many shitcoins investors (that are weaker hands) will feel the same as Chico Crypto if Bitcoin goes lower, and with the crypto market 60% invested in shitcoins as opposed to Bitcoin, I can imagine the obvious result for a further correction. BTC dominance will continue to climb as newer shitcoin speculators dump their bags for fiat, while longer-term shitcoin speculators take their profits (or newly found losses) back to satoshis, as they have been doing for the past 6 months.

[ChartBuddy]

Explanation

[BobLawblaw]

Saw on Twitter.

[vroom]

Saw on Twitter.

almost perfect, but instead of the sleigh we need the rollercoaster

[ChartBuddy]

Explanation

[BitcoinBunny]

Monthly meeting of top officials at the Bank of England on whether or not to raise interest rates to supposedly "curb inflation".
 

Is consumer spending really that high or is your problem more the result of these:

• Money printing / bond issuing at ridiculous rate
• Closing down the economy because of a DaNgErOuS vIrUs and still paying people - Economic reward for zero effort (looks like this is on the horizon again).
• Allowing companies to borrow at zero percent and buying back their own stock.
• At the mercy of many external markets such as energy and product supply. When things get moving you are either being taking advantage off or at the mercy of problems elsewhere.

Raising interest rates by 0.25% will do jack shit to curb these points and only make mortgage payers poorer.
Even if you went back to the good old days and had 3-4% interest rates on your savings as long as inflation is higher (which it is) you don't save anything.

People don't seem to understand that.

Bitcoin is clearly the answer, short term (years) and long term (decades).