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

[cAPSLOCK]

But Bob.  We NEED them!

https://www.youtube.com/watch?v=RNfYtjQZcv0

[ChartBuddy]

Explanation

[Lucius]

Bitcoin ‘may not last that much longer,’ academic warns
https://www.cnbc.com/2021/12/17/bitcoin-may-not-last-that-much-longer-academic-warns.html

Message: You hear that Average Joe? It's not going to be around much longer. Stay the fk away from Bitcoin!

“Given that bitcoin is not serving well as a medium of exchange, I don’t think it’s going to have any fundamental value other than whatever investor’s faith leads it to have,” Prasad said.

Uh...that's the very definition of sound money, you dumbass. 

I already read that same article this morning, in the local language - which confirms that bad news spreads much faster than this damn oMicron virus. Mr. Prasad (in my local language his last name literally means piglets) seems to be a big fan of Mr. Buffett who gave his famous statement on the same TV show in 2014 “Stay away from it. It’s a mirage, basically,” he said on CNBC’s “Squawk Box” on Friday.

Nothing more than free PR for the university and its book...

[ChartBuddy]

Explanation

[d_eddie]

A end of year santa rally would be nice right about now, not liking these 40s, 50s is where its at.

I think it is unlikely. This end-of-month is the mother of all end-of-month events, and the landscape has already bears spotted around. Endure my friend, endure. I promise the reward will be sweet.

[serveria.com]

A end of year santa rally would be nice right about now, not liking these 40s, 50s is where its at.

I think it is unlikely. This end-of-month is the mother of all end-of-month events, and the landscape has already bears spotted around. Endure my friend, endure. I promise the reward will be sweet.

Well let me remind u not so long ago everybody and his dog was waiting for the moonshot, new ATHs and six digits. So did it happen? Honey badger doesnt care. It doesnt do what everybody expects it to do. 

Actually more frequently it does the opposite...

[Gachapin]

Bitcoin ‘may not last that much longer,’ academic warns
https://www.c[Suspicious link removed]m/2021/12/17/bitcoin-may-not-last-that-much-longer-academic-warns.html

Message: You hear that Average Joe? It's not going to be around much longer. Stay the fk away from Bitcoin!

“Given that bitcoin is not serving well as a medium of exchange, I don’t think it’s going to have any fundamental value other than whatever investor’s faith leads it to have,” Prasad said.

Uh...that's the very definition of sound money, you dumbass.  

The interview (2nd vid) is a torture to watch...

The 'academic' with the old "Blockchain, not Bitcoin" fallacy, just to pitch his CB shitcoins  

"...CB currencies are going to remain dominant as stores of value"   .... yeah sure.
That's like saying drugs are going to remain the dominant help for people with emotional problems.


The "journalist" is a complete idiot. I'm afraid there are much more where he is coming from.

I fear many of them will go full on environmentalist on Bitcoin, if they aren't already. While having no clue about any thermodynamic argument, or things like 'nothing at stake' problems.

However, interesting to see MSM talking negatively about BTC again, since that's mostly the time when whales are buying.

[Richy_T]

Bitcoin ‘may not last that much longer,’ academic warns
https://www.cnbc.com/2021/12/17/bitcoin-may-not-last-that-much-longer-academic-warns.html

Message: You hear that Average Joe? It's not going to be around much longer. Stay the fk away from Bitcoin!

Was hoping that was going to be Stolfi.

[Gachapin]

Bitcoin ‘may not last that much longer,’ academic warns
https://www.c[Suspicious link removed]m/2021/12/17/bitcoin-may-not-last-that-much-longer-academic-warns.html

Message: You hear that Average Joe? It's not going to be around much longer. Stay the fk away from Bitcoin!

Was hoping that was going to be Stolfi.

I miss that guy and the discussions...

Roach was funny but no adequate replacement

[ChartBuddy]

Explanation

[BobLawblaw]

But Bob.  We NEED them!
https://www.youtube.com/watch?v=RNfYtjQZcv0

You misunderstand. I understand we need the whales, but we can't feed them the cheap stuff all the time.

Sometimes they gotta deal with Brandon fucking up the economy, and eet the really spensive corn.

Ya dig?

[d_eddie]

A end of year santa rally would be nice right about now, not liking these 40s, 50s is where its at.

I think it is unlikely. This end-of-month is the mother of all end-of-month events, and the landscape has already bears spotted around. Endure my friend, endure. I promise the reward will be sweet.

Well let me remind u not so long ago everybody and his dog was waiting for the moonshot, new ATHs and six digits. So did it happen? Honey badger doesnt care. It doesnt do what everybody expects it to do.  

Actually more frequently it does the opposite...

She likes to go against expectations: I concur, serveria.
I guess you know I'm a permabull (although possibly not quite in your league )

However, keeping rational expectations, as in assigning fair looking probabilities to different outcomes, is the name of the game - at least for me, if I want to keep my feet on the ground and whatever's left of my mental sanity.

Reason says the short term landscape isn't too bullish. I think we'll have to grunt our way through 2021.
What about the bull? Still in place is my gut feeling. Sophisticated SOMA analysis and all. Ready to be proven wrong of course...

[ChartBuddy]

Explanation

[marcus_of_augustus]

 ... Very nice chart xhomer

... i like that people are recognising the full/moon natural rhthymns that influence human social and economic behavours

... Now that we have the lunar basis rhythms setting the beat by the moon cycles we can take the music to another level

... the seasonal cycles can chime in also strongly influencing human behaviours on longer cycles for larger projects of 3, 6, 9 and 12 monthly cycles, as determined by Earth's orbit around the Sun, e.g. human pregnancy has a 9 month gestation, planting on equinoxes for reaping on solstices, etc

... so it's interesting to watch for turning point behaviours around the full/new moons closest to solstice and equinox dates

... a strong turning point trend established on or around a new/full moon close to a solstice/ equinox can set the trend for the following season, half year or even the whole year

... todays Bella Lunar falls just 60 hours from the last Solstice of 2021 and the Solstice of Rebirth for the Northern Hemisphere

 

There's another full moon tomorrow (or the 19th in the morning depending on where you live) and while this isn't trading advice, it looks as though there might just be something to all this talk of bitcoin "mooning" after all.  A little hopium chart for your perusal:


 

[LFC_Bitcoin]

Something to consider boys…….




@therationalroot
The reason for current extended sell-off, short 🧵👇

Asia’s largest exchange, Huobi, has stopped related trading in China. #Bitcoin  has been flowing from Asia to the US and Europe for some time.

https://twitter.com/therationalroot/status/1472240857659052036?s=21

@therationalroot
Thanks to @ultravirtu for bringing the Asian sell-pressure to our attention.
https://twitter.com/ultravirtu/status/1471883101022433284?s=20
https://twitter.com/therationalroot/status/1472240860033019905?s=21

@therationalroot
Against expectations of cycle history we’ve been hovering slightly below several key indicators like on-chain STH Cost-Basis and 21wma that historically define bull/bear markets. This left us somewhat surprised as several (including me) think this cycle is not over.

@therationalroot
The sell-pressure from China is real. Asia’s largest exchange, Huobi, has closed OTC and exchange transactions. Many people have been forced to sell their #bitcoin  because they are worried they won’t be able to trade in the future.
Huobi's net position change red past months:

https://twitter.com/therationalroot/status/1472240875329650693?s=21

@therationalroot
While Huobi has been discontinued and is quite thorough, Binance will be partially cleared at the end of the year. The ok exchange has not yet issued an announcement on the clearing.
Binance's net position change recently red (likely because of China):
https://twitter.com/therationalroot/status/1472240881675628546?s=21


@therationalroot
If we compare this to Kraken, which is mostly active in US and Europe, we can see that they are clearly Buying The Dip. ✊

https://twitter.com/therationalroot/status/1472240886629105665?s=21

@therationalroot
Selling seems to be decelerating, possibly because Huobi already halted. Likely as of January most of this sell-pressure should dissolve. A continuation of the bull market could be expected then.
https://twitter.com/therationalroot/status/1472240897265782785?s=21

[shahzadafzal]

Dedicated to a WO family… including Proudhon… May be we can meet up in a metaverse one day.

[BitcoinBunny]

Bitcoin ‘may not last that much longer,’ academic warns
https://www.cnbc.com/2021/12/17/bitcoin-may-not-last-that-much-longer-academic-warns.html

Message: You hear that Average Joe? It's not going to be around much longer. Stay the fk away from Bitcoin!

“Given that bitcoin is not serving well as a medium of exchange, I don’t think it’s going to have any fundamental value other than whatever investor’s faith leads it to have,” Prasad said.

Uh...that's the very definition of sound money, you dumbass. 

He's probably just pissed because he probably invested in Dogecoin whilst it was at ATH and even Elon Musk can no longer pump that useless piece of crap.

[marcus_of_augustus]

Bitcoin ‘may not last that much longer,’ academic warns
https://www.cnbc.com/2021/12/17/bitcoin-may-not-last-that-much-longer-academic-warns.html

Message: You hear that Average Joe? It's not going to be around much longer. Stay the fk away from Bitcoin!

“Given that bitcoin is not serving well as a medium of exchange, I don’t think it’s going to have any fundamental value other than whatever investor’s faith leads it to have,” Prasad said.

Uh...that's the very definition of sound money, you dumbass. 

He's probably just pissed because he probably invested in Dogecoin whilst it was at ATH and even Elon Musk can no longer pump that useless piece of crap.

.... no it's a shitcoin worse than doge even, he's clearly shilling for the overt pyramid scam called US fed res debt notes

[BitcoinBunny]

Bitcoin ‘may not last that much longer,’ academic warns
https://www.cnbc.com/2021/12/17/bitcoin-may-not-last-that-much-longer-academic-warns.html

Message: You hear that Average Joe? It's not going to be around much longer. Stay the fk away from Bitcoin!

“Given that bitcoin is not serving well as a medium of exchange, I don’t think it’s going to have any fundamental value other than whatever investor’s faith leads it to have,” Prasad said.

Uh...that's the very definition of sound money, you dumbass. 

He's probably just pissed because he probably invested in Dogecoin whilst it was at ATH and even Elon Musk can no longer pump that useless piece of crap.

.... no it's a shitcoin worse than doge even, he's clearly shilling for the overt pyramid scam called US fed res debt notes

 

[ChartBuddy]

Explanation