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

[Gachapin]

I was never much sympathetic to the people who got Goxed, because it was their damnfool fault for storing coins on a centralized exchange.  Even though "not your keys, not your coins" was not yet a meme being stapled to the forehead of every n00b, it was damn obvious from 3-Jan-2009.  Storing money in the custody of a trusted party, who may turn out to be incompetent or malicious - wasn't Bitcoin invented so we could stop doing that?

as i recall peeps at that time when it was obvious they were having problems some folks were deliberately buying coins on mtgox at a discount (they were cheap due to loss on confidence of them being able to withdraw) to try and move to another exchange or their own wallets because of the arbitrage opportunity.

i believe some managed it and got a bit of profit however we all know what happened to the unlucky ones.

It's been so long, but wasn't there a website where you could even trade coins trapped in GOX after they started to shut down?

dunno bout that but peeps were offering to buy peoples mtgox accounts after it was shut down for like 10% (or whatever) of the accounts btc value.

I think that's what I remember. Somebody quickly put up a site with bids and asks for GOX coins (payable in real BTC).

As the time passed and the hopes that GOX would be back got diminished, the prices for the GOX coins decreased further and further.
I think they started out with about 80% of the real BTC value.

I still regret a bit not selling my password there for real Bitcoin, at that time.
But in these years the coins I had on GOX weren't even worth 1k$. And who knew that we would do a 100x and more in a few years...

[Ucy]

There is going to be strong movement this week, either up or down....and this will depend on tommorow.

*Whoever solves this #puzzle, could make alot of money from the price movement

So this👆 price prediction ended up correct and precised. The price went down strongly from Thursday and it was the highest downward movement this week. The week ended on Saturday.
This movement was dependent on whether I will be accepted in a Sig campaign. If I had been accepted price would have gone up, about $31,000 to $33,000 depending on how high my positive mood was.

Carefully observe the image below for illustration
Image source: https://coinmarketcap.com/currencies/bitcoin/historical-data/
Archive: https://archive.ph/mzgpL

[eXPHorizon]

[eXPHorizon]

https://www.youtube.com/watch?v=c3L0T7PJ6Bc

Strongest man

Goddaaaa


ONNEE PIIEEECEEEE IIISS REAAAAAALLLLL


https://www.youtube.com/watch?v=JYlRG6pf4ZI

[BobLawblaw]

This is what makes me lose faith in humanity

I'll raise you one.

It's sold out.

https://www.kanojotoys.com/brainfucker-masturbatory-aid-onahole-p-6986.html

[ChartBuddy]

Explanation

[dragonvslinux]

And last but not least: what makes me most optimistic is that if we had no blowoff top, there's a fair chance we won't have a 80% drop. After all, it not only the bulls who can get screwed.    If most of the crypto (sorry Jay I deserve a batslap I know  ) world awaits "moar down", "$20k" etc why don't we get some healthy "up" instead?

From the context it seems that you are referring to "crypto" in terms of non-bitcoin, and even if you are wanting a batslappening, we know that some of our current shitcoin purgenings might well end up contributing to some of that value flowing back into BTC, and really you seem to be describing that we could be experiencing some BTC price dynamics similar to the April to June 2019 BTC pumpening --- and it would be difficult to argue against that kind of current purgenings of shitcoins and to end up seeing some of that value flowing into bitcoin.. perhaps? perhaps?

Personally I think this is close to inevitable. In that April to June 2019 Bitcoin pump, dominance rose from 50% to 70%, at a time when the overall market was worth $150 billion, with Bitcoin worth $75 billion. So it seems quite obvious that $30b - $60b following back into Bitcoin helped considerably in the market cap rising +$125 billion to $200 billion. Somewhere between 25-50% responsible maybe, roughly?

Either way, Bitcoin didn't have a blow-off top as has been noted already. Many altcoins (if not most) did have a blow-off top, and therefore likely to enter into a multi-year bear market against BTC at least, many against USD as well, others simply continue there 4 year+ long bear market against BTC like nothing ever happened. The sort of shitcoin bear market where altcoins could bounce back 50% against USD while Bitcoin doubles in price, thus dropping 50% further against Bitcoin, so effectively half the satoshi liquidity is leaving while fiat liquidity is entering, same as in 2019. Many of the best-performing shitcoins are already down 80% to 90%, the minority that will survive for another cycle will likely drop 95-99% before finally recovering, so there is plenty of room to the downside for shitcoins right now. Many are oblivious to the reality that a 95% drop is completely normal for all cryptocurrencies in their first cycles that survive for another, with Bitcoin as well as Ethereum being no exception to that rule either.

The sort of shitcoin selling right now is either longer-term Bitcoiners taking profits back to BTC, regardless of it's fiat value (as is completely irrelevant when trading satoshis) or newer investors selling at a loss, with a minority taking late profits to USD I imagine. Then when Bitcoin finally starts recovering, the newer investors will be left confused as to why there "investments" are under-performing in comparison, and will learn the meaning of the phrase Bitcoin season. Ideally they will also learn to value investments in satoshis, as opposed to fiat, but probably this is too much to ask.

The other reality is that while Bitcoin is down 50%+ from a year ago, it's market dominance is the same as a year ago. It hasn't even begun to climb yet, it's only just starting to break out to the upside by the looks of it. I think this "2019 dynamic" becomes very inviting for the institutions left confused over which cryptocurrencies to invest in, the ones that aren't buying the dip but wanting to buy into a recovery. They then are only left with the choice of investing in the winning horse as it were, once they identify the best performing asset long-term as the no.1.

Bitcoin's rise in market dominance therefore becomes a sort of domino effect with shitcoin liquidity returning to Bitcoin, followed by new capital predominantly entering Bitcoin.

[xhomerx10]

This is what makes me lose faith in humanity

I'll raise you one.

It's sold out.

https://www.kanojotoys.com/brainfucker-masturbatory-aid-onahole-p-6986.html

 Hard to believe they're still flush with used underwear.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[OutOfMemory]

"dangerous spot to be in as foreigners" Where on earth are you? I didn't know such spots even existed in Europe today.

Yeah, that's what he said. On the side of the speedway in Italy. I didn't ask him for details, but trusted him as he was a local guy.
Why would he exaggerate, though?

[ChartBuddy]

Explanation

[Torque]

This is what makes me lose faith in humanity

I'll raise you one.

It's sold out.

https://www.kanojotoys.com/brainfucker-masturbatory-aid-onahole-p-6986.html

I've read that the Japanese don't even fk anymore.

Something something androgynous beta soyboys and uninterested Harajuku manga girls.

I think their society might be doomed.

[Biodom]

This is what makes me lose faith in humanity

I'll raise you one.

It's sold out.

https://www.kanojotoys.com/brainfucker-masturbatory-aid-onahole-p-6986.html

I've read that the Japanese don't even fk anymore.

Something something androgynous beta soyboys and uninterested Harajuku manga girls.

I think their society might be doomed.

Whatever happens in japan, happens in 20 years in US/Europe (to a degree).
Example 1: interest rates at zero. Japan -from 90ies, US 2010-2018, 2020-2022 and maybe 2023-?
Example 2: manga (japan-10-20 years before, pretty much everywhere now)
Example 3: less interest in real sex (starting to occur in US as well based on the anecdotes I hear). Fapping to Onlyfans doesn't count.

[ChartBuddy]

Explanation

[LFC_Bitcoin]

WoooooW its been a long time

But finally seeing my fam once again

Me+LFC @Paris
Love it

Go go Liverpool

Only just recovering from the misery of losing. Life is more important than football though & LFC will rise again to new highs like they always do, also like my other love bitcoin

Always great to see my brother from another Mother, El Duderino_ , genuinely one of my best friends in life & very thankful for this forum & bitcoin than we got to meet. Bitcoin has done many great things for me, very thankful.

Here’s to a better future in all ways, LFC & bitcoin, cheers boys.

[bullrun2024bro]

New all-time high in addresses holding more than 0.1 BTC. 3,524,232 addresses! LFG!  

[Biodom]

New all-time high in addresses holding more than 0.1 BTC. 3,524,232 addresses! LFG!  

^ ...indicating decentralization, I guess.
Naturally, the total number of addresses holding>0.1 BTC would reach a plateau at some point.
I would be surprised if such plateau would be above 10mil wallets, maybe even 5 mil...it seems like an S-curve that is about to 'bend' even more.

[ChartBuddy]

Explanation

[Hamza2424]

Hah Store of Value
seems now newbies/Pos lovers should accept it POW in BTC is a store of value rather than a medium of exchange