ChartBuddy
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February 02, 2022, 09:01:26 AM |
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modrobert
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-"When the going gets weird, the weird turn pro."
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February 02, 2022, 09:29:39 AM |
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I remember last time we had the downtrend (sub 40k) Bitcoin price bounced hard just over 30k USD several times (and once it even broke into 29k), after that it felt certain that the "bottom was in". This time I'm not convinced at all we have seen the bottom, but maybe that's because I missed something obvious? I have no idea where this is going, the gambler in me (at the moment of writing) have it pegged around 70% chance we will revisit ~31k (maybe even go below) and 30% chance we have seen the worst of it and up we go.
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somac.
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February 02, 2022, 09:49:45 AM |
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I remember last time we had the downtrend (sub 40k) Bitcoin price bounced hard just over 30k USD several times (and once it even broke into 29k), after that it felt certain that the "bottom was in". This time I'm not convinced at all we have seen the bottom, but maybe that's because I missed something obvious? I have no idea where this is going, the gambler in me (at the moment of writing) have it pegged around 70% chance we will revisit ~31k (maybe even go below) and 30% chance we have seen the worst of it and up we go.
This decrease is very different to the last one though. This decrease is 80% due to the Feds jawboning, the last one was from a flood of coins being put on the market due to the China bans. The On-chain picture is very different this time and if the Fed continues to signal, like they have recently, that they won't crash the economy, I think it is highly likely we have seen the bottom.
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ChartBuddy
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February 02, 2022, 10:01:20 AM |
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modrobert
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February 02, 2022, 10:25:35 AM |
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I remember last time we had the downtrend (sub 40k) Bitcoin price bounced hard just over 30k USD several times (and once it even broke into 29k), after that it felt certain that the "bottom was in". This time I'm not convinced at all we have seen the bottom, but maybe that's because I missed something obvious? I have no idea where this is going, the gambler in me (at the moment of writing) have it pegged around 70% chance we will revisit ~31k (maybe even go below) and 30% chance we have seen the worst of it and up we go.
This decrease is very different to the last one though. This decrease is 80% due to the Feds jawboning, the last one was from a flood of coins being put on the market due to the China bans. The On-chain picture is very different this time and if the Fed continues to signal, like they have recently, that they won't crash the economy, I think it is highly likely we have seen the bottom. I think you could be right about the Fed, but in my interpretation that might have been the "trigger", not explaining what's going on right now where Bitcoin behaves weak, mostly sideways action, small dumps creates long red candles. Just to make it clear, like most others in the WO thread I have no doubt about the long term "up", but this is about near future.
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ChartBuddy
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February 02, 2022, 11:01:21 AM |
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somac.
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February 02, 2022, 11:07:13 AM |
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I remember last time we had the downtrend (sub 40k) Bitcoin price bounced hard just over 30k USD several times (and once it even broke into 29k), after that it felt certain that the "bottom was in". This time I'm not convinced at all we have seen the bottom, but maybe that's because I missed something obvious? I have no idea where this is going, the gambler in me (at the moment of writing) have it pegged around 70% chance we will revisit ~31k (maybe even go below) and 30% chance we have seen the worst of it and up we go.
This decrease is very different to the last one though. This decrease is 80% due to the Feds jawboning, the last one was from a flood of coins being put on the market due to the China bans. The On-chain picture is very different this time and if the Fed continues to signal, like they have recently, that they won't crash the economy, I think it is highly likely we have seen the bottom. I think you could be right about the Fed, but in my interpretation that might have been the "trigger", not explaining what's going on right now where Bitcoin behaves weak, mostly sideways action, small dumps creates long red candles. Just to make it clear, like most others in the WO thread I have no doubt about the long term "up", but this is about near future. I don't know, the price doesn't seem so weak to me. It held the weekend well, I really think most of the weak hands have sold already.
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LFC_Bitcoin
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February 02, 2022, 11:34:34 AM |
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Willy Woo@woonomic Price in relation to on-chain demand from both speculative and hodl category of investors are now both at peak oversold levels. The last time this happened was October 2020. The time before that was at the bottom of the COVID crash. https://twitter.com/woonomic/status/1488834634490155008?s=21Interesting……
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serveria.com
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February 02, 2022, 11:54:04 AM |
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Would be interesting to hear from miners. How's profitability doing? With electricity prices going up and BTC price down is mining sustainable?
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ChartBuddy
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February 02, 2022, 12:01:27 PM |
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Lucius
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February 02, 2022, 12:04:22 PM |
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Inflation rockets to 7.6% year on year from January last year to this year in The Netherlands. But don't worry everyone. There is a new European Harmonised inflation rate calculation available now (Harmonised Index of Consumer Prices or HICP) from the European Central Bank run by the esteemed high class moral citizen Christine Lagarde. And that one tells it was only 2.8% over 2021 in The Netherlands. So they're good. Expect to see HICP mentioned more in the EU I guess now that other or "normal" inflation figures look terrible. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) If EU bureaucrats are good at something, then it's rigging numbers. But we don't need to worry too much, gas is still flowing from Russia and will flow until Germany decides to move to the Eastern Front, but given the experience of WW2, I don't believe they want to provoke the Russians again. In addition, we do not need to worry about vaccines for new strains of the virus because our dear Ursula von der Leyen has direct communication with Albert Bourla who is the CEO of Pfizer. The New York Times article noted that the Commission chief was "exchanging texts and calls" with Bourla for a month and that "personal diplomacy played a big role" in a deal to purchase 1.8 billion doses of vaccine. But in response to Fanta’s request, the Commission said it did not hold documents beyond an email, a letter and a press release on the subject.
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ChartBuddy
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February 02, 2022, 01:01:29 PM |
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d_eddie
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Shitforks vainly trying to become relevant?
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ChartBuddy
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February 02, 2022, 02:01:21 PM |
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cAPSLOCK
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February 02, 2022, 02:41:58 PM Last edit: February 02, 2022, 02:53:24 PM by cAPSLOCK |
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everyone in Canada thinks those truckers are complete idiots. Plus a lot are out of fuel in Ottawa, freezing in their cabs. Brought kids, but no food. The border crossing is even more idiotic, considering they are mostly blocking their fellow truckers from getting home/working. Even the trucker association called them out for being complete morons. Opposition parties tried to get some steam by supporting them, then quickly backtracked after they realized how dumb this whole thing is. Bitcoin ? Bitcoin ?!? 99% of those people hate bitcoin and probably think its a lizard-alien-freemason conspiracy or some shit.
We risk drifting into a taboo conversation here.. but I would argue that the statement "Everyone thinks those truckers are complete idiots" is not entirely correct: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FaNDhTkb.png&t=665&c=pBXzF1EA44Y4ow) I personally think the right to protest is EXTREMELY important... and comments like "fringe people with unacceptable views" are DANGEROUS rhetoric. Trudeau's last tweet about them is actually EVIL in my opinion. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F9Sa8axJ.png&t=665&c=m2UMFNVJeO0y5w) That is a technique that has been being used throughout the pandemic by WEF aligned politicians seizing control of our freedoms and mainstream news organizations to describe the people who disagree. It is ridiculous and evil. He is framing a very large peaceful non-bigoted protest as racism. I am personally hoping this technique backfires on him powerfully. If the truth about what has happened over the last several years actually fully comes to light, I would think Justin might want to just STAY at his undisclosed location.
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jojo69
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diamond-handed zealot
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February 02, 2022, 02:46:34 PM |
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cAPSLOCK
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February 02, 2022, 02:49:34 PM |
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Ha. Yes. Looks like a rejection at the trend line. At least so far... I am not going to say anything about bear traps. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) First test: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FDMgrnWP.png&t=665&c=FGYph2xK08rxew)
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El duderino_
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February 02, 2022, 02:49:46 PM |
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Reverse ant in progress
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Torque
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February 02, 2022, 02:56:40 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F9Sa8axJ.png&t=665&c=m2UMFNVJeO0y5w) That is a technique that has been being used throughout the pandemic by WEF aligned politicians seizing control of our freedoms and mainstream news organizations to describe the people who disagree. It is ridiculous and evil. He is framing a very large peaceful non-bigoted protest as racism. I am personally hoping this technique backfires on him powerfully. If the truth about what has happened over the last several years actually fully comes to light, I would think Justin might want to just STAY at his undisclosed location. https://twitter.com/NextLAMayor/status/1488665488238383105
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