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

[JayJuanGee]

A direct reference of the Coinbase quote (see @Heuristic post) from their 10-Q:

https://twitter.com/sophiamzaller/status/1524150654897463302

seems to be accurate...

When have I ever provided inaccurate info?

That's a good question.


Hm?


You deserve a batslappening for providing confusion during our current difficult times...




referring to wee poor widdow king daddy.. not having a good day.

Some D*ckheads who didn't believed my idea and called it stupid:

Surely not becoming behavior.

You really deserve a batslappening for that.

[greensheep]

Didn't see this lay out before

[heslo]

Tether taking a shit now too; whole market in panic it seems.

Oh well

It feels weird to not give a fuck when everything is burning around you. Take care out there lads and stay safe. Anyone who is feeling shit, my PM's are always open if you need an ear to listen to ya

[ImThour]

You really deserve a batslappening for that.

Haha, I am sorry but I was too excited. It feels so good that Mr JJG is finally wrong huh?
Don't worry, I am in your team now. I don't wish BTC down anymore as my targets/orders has been filled.
I am all in. (sort of). Good luck to you and everyone else in this journey.

[naim027]

Hold On Please!
55%+ Down is already huge for me!

My family won't trust me anymore.

Why? Did you tell them to invest without telling them about the risks?

No, I invested my 80%+ Savings in Bitcoin. Of course for the long term. But, I am afraid of urgent needs. No one knows what will happen tomorrow.

Guys, the Most Popular Stable coin USDT AKA Teather Hits $0.94 Today. What is the definition of StableCoin?

[Poker Player]

No, I invested my 80%+ Savings in Bitcoin. Of course for the long term. But, I am afraid of urgent needs. No one knows what will happen tomorrow.

I don't think you're the only one on the forum who is overinvested in Bitcoin, but you've skipped one of the basic rules of investing: only use money you won't need and can afford to lose.

Following this rule and with a good emergency fund in fiat you can ride out the downturns like it's nothing, although it is more enjoyable to see the price go up.

[ChartBuddy]

Explanation

[ImThour]

Bitcoin touched $22.9k on KuCoin with BTC/USDC pair.

[empowering]

How’s everyone doing ?


Nearly time

[BitcoinBunny]

Things could be much worse. You could have had your money in Netflix shares or a shitcoin.

[empowering]

 

[naim027]

Bitcoin touched $22.9k on KuCoin with BTC/USDC pair.

[shahzadafzal]

Bitcoin touched $22.9k on KuCoin with BTC/USDC pair.

No it didn’t even in your image it’s still above $24k.

$22.8k is not the bottom where you put the line.

Edit: My bad, I think it did

[fillippone]

I saw this supposedly bullish chart elsewhere:



Today’s longs are tomorrow’s liquidations!

[NeuroticFish]

How’s everyone doing ?

So we seem to get to normal cycle. This is fine. Just fine...

[ChartBuddy]

Explanation

[HI-TEC99]

How’s everyone doing ?

So we seem to get to normal cycle. This is fine. Just fine...

[philipma1957]

I purchased a bit more..  3 buys for 27 ,26, 25.

I will buy some more over the rest of the dump.

We may go under 22k .

We finally left the boring 28.k to 69.8k range

It lasted from dec 2020 to may 2022

and we really look a lot like 2018.

rising  diff from jan 2018  to oct 2018

falling price from jan 2018 to oct 2018

Some place I posted those 2 charts. Looks to be a repeat of that after all.

To understand why diff rises it is simple a large farm with 8 cent total cost is still in the black even at 26k price for btc

Assume 3.3 not 3.01 so 80kwatts a day say 8 cents  rent ,breakage,power ,labor

that is $6.40 cost a day. 100th is making. 12.23 - 6.40 = 5.83 profit.

which works for a big farm.  this is with 30k price.

at 20k that 100th will do 8.15- 6.40  = 1.75 which is piss poor for a big farm. as they may have paid 7k a unit or more.

If they took a loan and are servicing  debt 💸 it is very likely they go bankrupt.

But you need an extended time at 20k to really crash big farms.

look at current diff it is +3%  which means big farms are grinding away.

https://www.bitrawr.com/difficulty-estimator

Latest Block:   735998  (28 minutes ago)

Current Pace:   103.8034%  (159 / 153.17 expected, 5.83 ahead)

Previous Difficulty:   29794407589312.08                            
Current Difficulty:   31251101365711.12                            
Next Difficulty:   between 31426821229651 and 32448536370230
Next Difficulty Change:   between +0.5623% and +3.8317%
Previous Retarget:   Yesterday at 7:40 PM  (+4.8892%)
Next Retarget (earliest):   May 24, 2022 at 7:22 AM  (in 12d 10h 9m 35s)
Next Retarget (latest):   May 24, 2022 at 5:48 PM  (in 12d 20h 36m 20s)
Projected Epoch Length:   between 13d 11h 41m 19s and 13d 22h 8m 4s

If we are to fully get to a true low based on large farm mining the price needs to be 20k the best news is diff is rising as I type.(+0.08%) It means the big miners are still in the black and are looking to grind this out.

I see  at least 90 nasty days ahead if the low is end is shortened.

and 2 years if we are normal bear.

The good thing is we just got our 285kwatt solar array approved and financing is done it will be working around July 1 so our power bill will be close to $0 .

This will put us in a better spot than a 4 cent power,rent,labor,breakage cost. per kwatt

[somac.]

Blood in the streets people. Time to buy. Yeah the paper losses suck, but they are just that, paper losses. In a couple years they will be paper gains again.

We may drop further down, to the 200WMA for instance, but every time that has happened in the past it has been the perfect entry point. It's at these times that big wealth is made.

On another note I must say it has been a pretty amazing (or devastating) last 24 hours. Attack on Luna (because they deserved it for their stupidity) and, more interestingly, an attack on Tether. The Tether attack is definitely an attempt to crash everything IMO. The FUD against Tether has been ongoing for years and my guess is the attackers were hoping to capitalise on that. Seems to have failed, but may not be over yet.

[ChartBuddy]

Explanation