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

[suchmoon]

Guys, if you want to hang around women's bathrooms all day you can simply enrol at the University of Plymouth.
You cannot be stopped apparently.

You do realize that you've been in a bathroom with a gay person many times, right?

[1714180675]

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[1714180675]

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[Dabs]

I took a look again at casa's offering, and they do talk about doing it yourself.

https://docs.keys.casa/wealth-security-protocol/casa-vs.-alternatives/option-1-do-it-yourself

So they have a free option, and some paid options, and the most expensive one is that $5000 per year one, designed for people who probably hold $1m or more of king daddy, and don't want to bother with setting up their own private ranch to store one of the keys to their coins. Remember it's a multi-sig wallet.

I believe this is easily done using 2-of-3 multisig as a minimum, and you only need 1 other device in addition to the one you normally use. People who don't use multi-sig probably have either a hardware wallet, or a cold wallet configuration set up using some air gapped machine. This can be an old phone or old tablet (or even a new one) used for just this purpose.

For my own use case, I got a cheap tablet, nuked it, erased it, kept it offline, and copied over Electrum from another offline machine. Now people are going to ask if I physically disabled the wireless connections, but I didn't do that. I just never connected it to anything and it's on permanent airplane mode, most of the time the tablet is actually turned off and stored in a box. I don't have the amount of coin that would warrant more security than I have now. I may consider upgrading my own protocol when I get to that point, but for me, no one else is going to be able to touch my coins.

There are a few people out there using Bitcoin Core and Electrum with both a watch-only wallet and a cold wallet for signing.

It's a trade off between security and convenience. Tapping your debit card is convenient. Inserting it and typing a 4 digit pin code is inconvenient. Pushing lots of buttons and digging out cold storage from where ever you hid it is annoying. It all boils down to the user.

Some people are willing to pay $5k a year to know their coins are secure. I'm not one of those people, but if I had a friend who had a couple million dollars worth and I know he's not very technical, I'd suggest to them to take a look at paid services (or I'd offer my own service to him, teach him how to do it himself, get him a safe deposit box, etc etc etc; pay me and I'll keep our coins safe.)

You could pay Casa the $5k for just one year, and try to do transactions every month. When you've learned how to do it and what they teach you, because they supposedly teach you how to access your coins in the even the company completely disappears, you use open source software, then you could try doing it on your own after that.

At the very least, they have a lot of knowledge that is available for free, so everyone can do it themselves.

[Richy_T]

Hello darkness, my old friend

[Richy_T]

Guys, if you want to hang around women's bathrooms all day you can simply enrol at the University of Plymouth.
You cannot be stopped apparently.

You do realize that you've been in a bathroom with a gay person many times, right?

Explain the relevance?

[ChartBuddy]

Explanation

[BitcoinBunny]

Guys, if you want to hang around women's bathrooms all day you can simply enrol at the University of Plymouth.
You cannot be stopped apparently.

Are you allowed to bring a sheep?

Well no one is allowed to say anything if you do or if you dress up like one so...

[BitcoinBunny]

Lol. German production inflation hits 30.9%

 

German producer prices surge at fastest rate since records began
https://www.ft.com/content/6231877b-796f-4d56-8dc5-cfa0b00248de


Let's shut off some more pipelines and pretend we can use farts as energy.

[ChartBuddy]

Explanation

[OgNasty]

As the trend continues to be down since the ATH, you have to wonder if we will see the return to $10K that was the accumulation period before the last big jump. Billionaires are buying in and fighting the cyclical trend, but they appear to be losing. With the purchases between Do Kwon and Michael Saylor, I thought we’d be over $50K by now. If those two weren’t buying, we may already be at $10K. I’d be hesitant to make any moves trading one way or the other here, but I think it would be unwise to assume we can’t see a prolonged price decrease for potentially the next year or two that takes us to test the last held support levels.

[Biodom]

As the trend continues to be down since the ATH, you have to wonder if we will see the return to $10K that was the accumulation period before the last big jump. Billionaires are buying in and fighting the cyclical trend, but they appear to be losing. With the purchases between Do Kwon and Michael Saylor, I thought we’d be over $50K by now. If those two weren’t buying, we may already be at $10K. I’d be hesitant to make any moves trading one way or the other here, but I think it would be unwise to assume we can’t see a prolonged price decrease for potentially the next year or two that takes us to test the last held support levels.

2 years? it would be up to the halving, which has not been a historical trend.
10K? it is theoretically possible, i guess, but for that to happen, many 'bad' things would have to happen.
Like, S&P 500 at 1000-1500. Can it get there? Sure, it can in a 2008 repeat. Likely? Not really.

I tend to compare current situation with the 70ies.
During that time, interest rates went up and stocks were in a sine wave with bottoms roughly half of the tops (Dow 1000 to 600) while inflation raged, so inflation adjusted returns were roughly minus 64% from 1971 to 1982.
Check both inflation adjusted and not-inflation-adjusted versions here (the fluctuation between 600 and 1000 is visible only on not-inflation adjusted):

https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart

To conclude, since bitcoin is more like gold and not stonks (and the gold was up in the 70ies), it is unlikely to trip that low.
As far as $22K-sure, it is possible, if we are in the bear market and not in a gigantic flat (between 30 and 60K).
Future will show, but my personal opinion is the 30-60K band/flat.

[ChartBuddy]

Explanation

[cygan]

[NoorulHuda]

https://news.bitcoin.com/national-bank-of-ukraine-temporarily-bans-cross-border-crypto-purchases-with-hryvnia/

[Arriemoller]

The total russian combat losses as of today is approximately:

Personnel ‒ about 21200 persons killed

Tanks ‒ 838

APV ‒ 2162

Artillery systems – 397

MLRS ‒ 138

Anti-aircraft warfare systems ‒ 69

Aircraft – 176

Helicopters – 153

Soft vehicles ‒ 1523

Boats/cutters ‒ 8

Fuel tanks ‒ 76

UAV operational-tactical level ‒ 172

Special equipment ‒ 27

Mobile SRBM systems ‒ 4


The russian offensive is not making any advances worth metioning.

The US is sending 72  155 mm howitzers and 144 000 artillery grenades, and tractors for the howitzers, this is in addition to the howitzers and grenades allready sent. They are also sending 121 newly developed, to Ukranian specs, suicide drones called Phoenix Ghost.
The Netherlands is sending the self propelled howitzer Panzerhaubitse 2000 and France is sending their CAESAR howitzer.

Ukraine is gettin lots of modern western 155 mm artillery, this means that they can use the GPS guided precision grenade Excalibur and the Bofors/Nexter Bonus antitank grenade that releases two homing warheads over the target and hits the weak roof of the tanks. it can reach up to 35 Km, so one fire round (or whatever the english word is) can theoretically wipe out a whole tank company.

The Russians in Mariupol are now digging massgraves for the civilians they have killed, satelite pictures show.

[danadc]

There is a lot of speculation with respect to the price of Bitcoin, in Bitstamp a BTC decline was recorded at $ 39197, some are reviewing the liquidity pools to see what information can throw them:

Between spot and $37,500, there was approximately $100 million in bids waiting on Binance, according to an accompanying chart.

"Expecting it to get filled, but watching to see if BTC/USDT liquidity moves to the active buy zone or the buy zone moves to the orders resting on the Binance order book," Material Indicators commented.

Sometimes they try to accommodate things with the NASDAQ and S & P 500 as Loafirman here:

U.S. Equities Showed No Signs of Slowing Their New Rout, with The Down 1.75% in The First Ninety Minutes' Trading and The Nasdaq 100 Shedding 1.43%.

source: https://cointelegraph.com/news/bitcoin-follows-fresh-us-stocks-dive-as-analysis-expects-btc-price-to-take-37-5k-liquidity

I think that the alternative economy that is generated by BTC, I do not see any correspondance or correlation, however there are authors of article that try to put that information as relevant.

 There are many who are stating that a Wall Street recession will be presented in 2023, and one of the most recommended things is that people should seek quickly protect themselves, either with gold and BTC.

One of the things that can accelerate all this is the growing inflation in the USA, which goes more than 8%, for me are alarming figures, and another factor to consider is that if the conflict between Russia and Ukraine affects all speculative markets.

[ChartBuddy]

Explanation

[ImThour]

As the trend continues to be down since the ATH, you have to wonder if we will see the return to $10K that was the accumulation period before the last big jump. Billionaires are buying in and fighting the cyclical trend, but they appear to be losing. With the purchases between Do Kwon and Michael Saylor, I thought we’d be over $50K by now. If those two weren’t buying, we may already be at $10K. I’d be hesitant to make any moves trading one way or the other here, but I think it would be unwise to assume we can’t see a prolonged price decrease for potentially the next year or two that takes us to test the last held support levels.

2 years? it would be up to the halving, which has not been a historical trend.
10K? it is theoretically possible, i guess, but for that to happen, many 'bad' things would have to happen.
Like, S&P 500 at 1000-1500. Can it get there? Sure, it can in a 2008 repeat. Likely? Not really.

I tend to compare current situation with the 70ies.
During that time, interest rates went up and stocks were in a sine wave with bottoms roughly half of the tops (Dow 1000 to 600) while inflation raged, so inflation adjusted returns were roughly minus 64% from 1971 to 1982.
Check both inflation adjusted and not-inflation-adjusted versions here (the fluctuation between 600 and 1000 is visible only on not-inflation adjusted):

https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart

To conclude, since bitcoin is more like gold and not stonks (and the gold was up in the 70ies), it is unlikely to trip that low.
As far as $22K-sure, it is possible, if we are in the bear market and not in a gigantic flat (between 30 and 60K).
Future will show, but my personal opinion is the 30-60K band/flat.

The only lower amount I believe Bitcoin can hit is realized price i.e. $24.5k, it is also the 200 WMA.
I made a post months before that BTC will retouch 200 WMA and I think there are good percentage of chances for that to happen.

Below that? IDK. I am all-in at 200 WMA, either it be $24 or $28 at the time.

[Tash]

German Producer Price Index Hits Record High Inflation of 30.9%
https://bitcoinnews.com/record-high-inflation/

Won't be long until the first Euro Trillionares

[NoorulHuda]

[BitcoinBunny]

German Producer Price Index Hits Record High Inflation of 30.9%
https://bitcoinnews.com/record-high-inflation/

Won't be long until the first Euro Trillionares

The ideologs don't care. All they care about at the moment is "Shulzie-boy, why aren't you building more tanks and sending them straight to Ukraine??"