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

[ChartBuddy]

Explanation

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[Torque]

TIL that Mike Novogratz was a big backer of TerraUST & Luna.

https://twitter.com/i/events/1527002154719920130

I've said it before and I'll say it again: I contend that Mike Novogratz is, at this point, controlled opposition that is secretly paid by Wall Street to lead people astray from Bitcoin. In the beginning years when he was only into Bitcoin, every time he was trotted out in the MSM to make a bullish call on Bitcoin, the market would crash soon after. Every. Single. Time. Too much of a consistent pattern to ignore.

Now the guy spends all his time hawking shitcoins and other alt crypto projects that go nowhere and fail, while still claiming that he is a big Bitcoin enthusiast.

I call bullshit. Don't listen to that guy about anything crypto/shitcoin related.

He's like a Raoul Pal, or a Mark Cuban; an agent provocateur mouthpiece secretly trying to undermine Bitcoin.

[Gachapin]

TIL that Mike Novogratz was a big backer of TerraUST & Luna.

https://twitter.com/i/events/1527002154719920130

I've said it before and I'll say it again: I contend that Mike Novogratz is, at this point, controlled opposition that is secretly paid by Wall Street to lead people astray from Bitcoin. In the beginning years when he was only into Bitcoin, every time he was trotted out in the MSM to make a bullish call on Bitcoin, the market would crash soon after. Every. Single. Time.

Now the guy spends all his time hawking shitcoins and other alt crypto projects that go nowhere and fail, while still claiming that he is a big Bitcoin enthusiast.

I call bullshit. Don't listen to that guy about anything crypto/shitcoin related.

He's like a Raoul Pal, or a Mark Cuban; an agent provocateur mouthpiece secretly trying to undermine Bitcoin.

I hope Novo got burned hard with UST.

That guy is a shitcoin lover from the get go.
 
He was an early investor and bought 500k mETH directly from Mr. V and his crew.  At that time he also bought BTC.


Totally agree with you that he and the others are probably no friends of us.  Pretty sure they are also in to several pump and dump schemes...

If I remember right, Cuban was actually busted taking part in a p&d one time, but he placed the blame on one of his team members...

[jojo69]

[ChartBuddy]

Explanation

[Hamza2424]

$8.50B capital loss by the USDT means people are selling in loss and then they are not holding Stablecoins they are taking an exit from the market.
Its an alarming situation because now the rumors and feelings of a sideways moment in a range are getting Stronger..

Here is what you can see.

https://twitter.com/glassnode/status/1526996647858798595

Global market ECONOMIC CRISIS well not only the crypto Stock market and regimes of worldwide local situations are terrible may be due to that reasons many of crypto community members are lifting over.

[AnotherAlt]

I want all stablecoins (which are not really stable at all) to die so that everyone is invested in BTC.

I don't think there is any stablecoin exists. Any stablecoins can be de-pegged. If you go to Coinmarketcap and check the graphs, You will find that most of the stable coins were de-pegged in 2020.

USDT
BNB
DAI
TUSD
USDC

I believe Bitcoin is doing what it is supposed to do. We often see people say This time; Bitcoin died etc. etc.
Don't expect too much from bitcoin. If your expectation is damn high, You may lose hope. Bitcoin is still bullish in my eyes.

[ChartBuddy]

Explanation

[Lucius]

TIL that Mike Novogratz was a big backer of TerraUST & Luna.
https://twitter.com/i/events/1527002154719920130

We know he's not the only one shilling that shitcoins, but it seems to me that he's the only one who will have a lasting memory of a Korean fairy tale called "stablecoins are not stablecoins.".

[shahzadafzal]

OT:

At 75 you confuse Iraq with Ukraine… God help Baiden he’s 79

https://twitter.com/bitcoin/status/1527310086640611328?s=21

[ImThour]

I don't think there is any stablecoin exists.

retard or wut? I just bought BTC with USDT and BUSD. Not sure what u smoking

Don't expect too much from bitcoin. If your expectation is damn high, You may lose hope. Bitcoin is still bullish in my eyes.

Sure, I know you are stacking that shitcoin for x10 right? right?

[Hhampuz]

OT:

At 75 you confuse Iraq with Ukraine… God help Baiden he’s 79

https://twitter.com/bitcoin/status/1527310086640611328?s=21

I mean the description could have been about him instead of Putin so.. Freudian slip more likely   

[BitcoinBunny]

OT:

At 75 you confuse Iraq with Ukraine… God help Baiden he’s 79

https://twitter.com/bitcoin/status/1527310086640611328?s=21

Literally JUST saw that. Un fucking believable. But even the stuff leading up to his blatant mistake / or somehow his body for once telling the truth "political opponents eliminated" etc, it was already as if he was talking about the USA anyway. All that Jan 6 stuff, the silencing of the Hunter Biden laptop thing etc, etc.

I keep saying this: if enough people are mad with policies; I'd much rather they take their anger out at the leaders in my government than destroy local high streets.

[takuma sato]

TIL that Mike Novogratz was a big backer of TerraUST & Luna.

https://twitter.com/i/events/1527002154719920130

I've said it before and I'll say it again: I contend that Mike Novogratz is, at this point, controlled opposition that is secretly paid by Wall Street to lead people astray from Bitcoin. In the beginning years when he was only into Bitcoin, every time he was trotted out in the MSM to make a bullish call on Bitcoin, the market would crash soon after. Every. Single. Time. Too much of a consistent pattern to ignore.

Now the guy spends all his time hawking shitcoins and other alt crypto projects that go nowhere and fail, while still claiming that he is a big Bitcoin enthusiast.

I call bullshit. Don't listen to that guy about anything crypto/shitcoin related.

He's like a Raoul Pal, or a Mark Cuban; an agent provocateur mouthpiece secretly trying to undermine Bitcoin.

I don't see any of these guys being paid by hidden agendas in the government, they are just opportunists with deep pockets ready to make some cash and they jumped on the whole "crypto" bandwaggon which have lead us to this insane bubble. Elon Musk is no different.

I see this bubble bottoming at around $500b total marketcap for all shitcoins, then maybe we can start thinking of a bottom. There's just too much dumb money in this market and the SP500 can keep going down which BTC will follow. The moment I saw Matt Damon on a spaceship claiming how you needed to be brave and "buy crypto" was enough of a peak alarm for me to back off from this.

[AnotherAlt]

retard or wut? I just bought BTC with USDT and BUSD. Not sure what u smoking

You didn't get what I am talking about. Stable coins are not so stable. UST was supposed to be stable.

Sure, I know you are stacking that shitcoin for x10 right? right?

Huh? Did you mean "You bought some shitcoin for 10x?"

[Richy_T]

I must say the market absorbed the 88k BTC in one week quite well.

However, since many buyers have already bought at this point, I feel there seems to be a lack of new capital which is needed to pump us out of the lows.

They're printing more as fast as they can. I hear the Ukrainians are about to get $40B and not all of it will be for kickbacks.

[Richy_T]

I want all stablecoins (which are not really stable at all) to die so that everyone is invested in BTC.

Part of the trick with stablecoins is that the stablecoin owners invest it in BTC and the people giving them USD get unbacked tokens. What could possibly go wrong?

[ChartBuddy]

Explanation

[PoolMinor]

I can see only 5 consecutive red candles in that screenshot of yours. And we now can witness 8 weekly red candles in a row! So, nothing near the current situation.

As to $20k, I think that it's theoretically possible but only as a flash crash scenario. It can last for hours, possibly minutes. 

Here's some better data on trends we should be worried about, let's zoom out shall we?
5 Months of red candles in 2011
4 Months of red candles 2014
6 Months of red candles 2018





As many of you may have misinterpreted my post, I was making a blatant non-comparison to show how useless the "record breaking" 7th red candle in a row is. More important how the data based on one particular exchange that has nearly no volume compared to how much it had when it was one of <10 exchanges...or when using the only exchange's data to show how every week was a new record breaking event.

[PoolMinor]

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world.

Lightning works like staking, but there are two important differences:

• No coin generation.
• Actual usefulness. (Routing TX)

You forgot
3. LN node operators don't really make any money, they are doing it for fun.


Also, why do folks continue to ignore the Core Devs? Like they're never going to touch the code ever again over the next 100 years to make adjustments?

LN is just another 3rd party similar to Western Union. WU does not generate new $$ they do however charge a fee and don't do it for fun. LN operators are earning a fee via self-adjusting modifications to their channel, likely a compromise of throughput versus bandwidth.

NO NO NO NO NO NO NO.

I don't mean to be a dick but lighting is NOT SIMILAR TO WESTERN UNION.  Western union is a centralized service with 100% control over what goes through.  Lightning is a COMPLETELY FOSS project in which YOU and I can completely independently set up a channel between us and NO ONE but us sets the rules and NO ONE but us has to know about it.  Wha I am saying is you and I can use the "lightning network" without asking the permission of anyone else, and including NO ONE else in our network (channel).

That in itself is a fundamentally HUGE difference.  But I could go on.  I am just too drunk to now.  I found some really awesome spiced rum.

I get it if you have issues with lightning as a trust minimized protocol for exchanging Bitcoin.  There are plenty of things to complain about or to gripe over... but you really need to pick better.  It is not even CLOSE to Western Union.

Western Union:
1. Facilitates the transference of monies between 2 parties.
2. Uses a centralized 3rd party to move funds between established channels
3. Only WU, Receiver/Sender and AML/KYC--(post-2017) informed of tx
4. Requires consent to setup channel between both parties

LN:
1. Facilitates the transference of monies between 2 parties.
2. Uses a decentralized 3rd party software to move funds between established channels.
3. Receiver/Sender informed of tx
4. Requires consent to setup channel between both parties via multi-sig wallet, etc.