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

[death_wish]

Explanation

FUCK YOU, BUDDY!  Fuck you, you actively malicious son of a bitch.  I hate you.

First, you take away almost the last of my bitcoins under 200 WMA.  You leave me with dust.  Dollhouse-sized finances.

Then, you run away while I am a broken-down wreck with almost no money, and no practiacl ability at this particular moment to do something productive to magick up a measly $20,000 or $21,000 to buy myself a whole One Bitcoin, 1.0 BTC.  I need to unplug and sleep for a week.  I need some time to vent and grieve.  WTF are you doing to me, you fucking sadist?

You had better fucking watch out.  REVENGE.  I am thinking that I should go blackhat, track you down, smash your stack with my fist, DROP TABLE throughout your database like a Bitcoin Bull in a china shop, dd if=/dev/random onto your binaries and source code, and piss on your grave.  How does that sound to you, Buddy?  Well, you should have thought of that, before you fucked with my bitcoins.

FUCK.  YOU!

* death_wish is a sane, rational adult now reduced to screaming profanities and impotent violent threats in public at a robot.  So dignified.  Smooth and professional.  Hey, newbies, margin accounts are great!  So are BTC-backed loans, on terms that ordinary people can access with a few clicks!  Buy BTC long on leverage!  Don’t sell your BTC:  Borrow against it!  You can become like this, too!  Maybe you will kill yourselves.  Seriously, at this particular moment, what most decisively stops me from living up to my name is that I AM NOT ALLOWED TO DIE WITH ONLY 0.0495 BTC.  Fuck.  Me, of all people, reduced to dust almost tantamount to being a nocoiner.  On the day I die, I MUST have at least 1.0 BTC, One Whole Bitcoin.  For peace of soul.  Bare minimum—much less than I just lost, which I will never have back even if I make myself 21,000 BTC in the future.  I have been thinking about this since yesterday—since before anyone else mentioned 1 BTC as a goal.  It is not about the fucking money:  Bitcoin is money, and it is more than money.  The first time that I ever bought BTC, I did not care about price appreciation—was not even thinking about it:  I wanted to have Bitcoin, and that’s that.  Bitcoin is money—and it is also honour and nobility and high ideals, for those who have honour and nobility and high ideals.  Now, if someone were to offer me a dilemma at this particular moment, between $1 million in the bank (but somehow forbidden to buy BTC), and 1 BTC in my wallet with my own private keys, then I would choose the 1 BTC—not to have spendable money, but because I need to have at least 1 BTC.  (How is that for fucking Gresham’s Law?)  I am not whole without a whole One Bitcoin.  I am now frightened of unintentionally dying without One Whole Bitcoin; hey, anyone can die at any time, even if they don’t want to.  IT CANNOT END LIKE THIS.  NOT LIKE THIS.  When I have a whole One Bitcoin, then I may consider whether or not having One Bitcoin justifies and redeems the existence in this world of a fool who lost and dissipated much more, when he damn well knew better.  I am generally pitiless, ruthless, judgmental.  I do not suffer fools kindly, and I do not wish to be a hypocrite about that.

[bitserve]

Made my first BTC purchase after a big while. My ~20% portfolio = BTC. And this ain't a trade or something, it's the long-term hodl.

For the remaining 80%, I'm gonna wait & be extra cautious throughout the year. Going to keep watching Fed's actions & speeches closely. I won't mind getting more BTC exposure at a bit higher price in case I miss the bottom, but I really wanna see Fed's behavior getting a bit softer than right now for further BTC exposure. As of now, dollar is just too strong to ignore.

~35% portfolio = BTC

I'm not sure how I took the extremely bold step, but now I'm 80% in BTC.

40% long-term stash and 40% short-term (for a bounce to $30k or something).

IIRC you previously sodl it all in the 40's (which back then looked like a risky/almost foolish bet), right?

Well played Raja!

[ChartBuddy]

Explanation

[Lambie Slayer]

Cycle Bottom confirmed. (June 15, 2022)

A new Baby Bull Market is born. In time it will grow to be a full grown Raging Bull. 


Bargain Boyz asked me to thank weak hands and gamblers for their sacrifice.



1 day into the new Baby Bull Market and all is well. 

[Torque]

One big reason for the inflation is that supply is disrupted.

Supply is not just being 'disrupted', it is straight up being shrunk on purpose. For many things the supply will never again go back to pre-Covid levels, at least not for a very long time. People think supply will resume and thus plentiful, cheaper goods are going to come bouncing back here soon... news flash, they won't.

And everyone top to bottom is in on it. As a side note, I was watching a Jim Cramer video clip on CNBC today, and caught him muttering to another talking head, "Well, you know, the Fed would like to see companies cut back on producing so much... that's why they're doing what they're doing." He *actually* said that on air.

My mouth dropped open. I was like, WTAF did I just hear?? So the Fed is now dictating or directing how much 'supply' of goods and services corporations will produce, by throttling the Fed funds rate.

Wow, just wow.

[bitserve]

Cycle Bottom confirmed. (June 15, 2022)

A new Baby Bull Market is born. In time it will grow to be a full grown Raging Bull. 


Bargain Boyz asked me to thank weak hands and gamblers for their sacrifice.



1 day into the new Baby Bull Market and all is well. 

Hey LS, how are those snake bites going?

I donno... while the price seems to be "low enough" already, the timing (bit soon in the bear cycle) plus the levels of whining/"despair" (almost non existent) don't match that well. No mindrusting event -leveraging "accidents" don't count the same as selling purely out of fear- nor enough people thinking this might be the "end" of Bitcoin... Again.

We will see.

[ChartBuddy]

Explanation

[cAPSLOCK]

That argument defeats itself, because it cuts both ways:  You fail to account for leverage in the opposite direction.

I strongly suspect that the current $20k–$22k range is a mirage, caused by massive organized dumping of the market using borrowed coins.

The price range right now is not real, except to three types of people:  (a) Fools who got long-squeezed and liquidated like me, (b) buyers who prudently kept reserves available to buy BTC now, and (c) whoever the hell is reaping huge dollar profits from shorting Bitcoin.  OK, well, I guess that the price now is real.  By your argument, it is not real.

You mean like exchange owners house trading on the own exchanges, naked shorting with re-hypothecated coins to push the price below real market value in order to scoop up more cheap coins?

That's pure crazy talk! No way they are doing something like that! /s

No doubt in my mind thats why the top was at least 20% lower than expected this cycle.

Derivatives are weapons of mass destruction, just a way for those in power to scoop off the top of a market..

So I have not expressed it a lot here but have spoken about it a bit on twangler.  Caitlyn whasserface who likes to talk a lot about "blockchain" from Wyoming...  She's always kinda given me the jibbities, but  one thing she brought to the fore for bitcoinners is "rehypothication".

I have often exchanged with her that I believed that one day we would see companies who try that (with a mathematically perfect bearer asset) get their asses handed to them.

Well..  Luna... Celsius, Blockfi?

Who is next?  We can only hope this is the "big one".  But still, allow me to smear my bullish interpretation all over it.

This will end up getting the attention of all the money people who have STARTED to get the idea that Bitcoin is different.  They will realize you cannot actually rehypothecate a digital bearer asset.  Because it is a  margin call waiting to happen.  Yes you can play all kinds of games with shitcoins... but ultimately Bitcoin is the backbone of it all.  And it does not suffer from those flaws.  There are no reserve banks to bail out these idiots.

It will take collateral damage like it is now...  But this is going to wake people up.  I think.

I am still waiting for the bull run for this cycle!

I like your optimism but the bottom line is derivative are the means by which those in control steal from the holders.

https://bitcointalk.org/index.php?topic=2730822.0

So you think they will keep it down below X by selling versions of it that do not exist?  And yeah... my optimism has coset me a lot of potential money over the years.

It has also made me rich as fuck.  Lol.  I am not sure if I am mad or not... I might end up mad, I guess.  Gotta know when to fold 'em as Kenny said.   I might end up mad, AND poor.  But I am thinking not.

Imagine being able to buy 100 Bitcoin for something like $300k.  How many will be selling? 

I will not be selling.

[jojo69]

Rumors Swirl About Financial Stress at Three Arrows

On-chain data has prompted speculation that Three Arrows Capital, a crypto-focused, Singapore-based hedge fund, is insolvent and may become the latest high-flying company to crash in the bear market.

Three Arrows Capital sold at least $40M worth of Lido’s staked Ether early Tuesday, making it the largest seller of the token in the past week.

[cAPSLOCK]

...

An hour or so ago, Bitcoin Magazine published the below piece on Wasabi Wallet 2.0:

https://bitcoinmagazine.com/business/wasabi-wallet-2-contains-new-features-for-optimizing-bitcoin-coinjoins

Note that author Shawn Amick did not mention anything about the controversy surrounding Wasabi working with blockchain analysis companies to censor their coinjoin UTXOs....

Hmm...

Is Wasabi helping blockchain analysis companies track transactions?

There is a narrative that they are.  There is a narrative that spooks are behind Samourai too.  Honestly, if you want privacy Bitcoin is not ready.  (I would trust Samourai first..)

I agree, Samurai is far more trustworthy.

I highly doubt spooks are behind it and if they are then they are doing gods work.

Have I ever told you my cockeyed theory that Nakamoto, SAtoshi is a rogue group inside the NSA?

I give it about a 4% chance of being true... high, really.

[cAPSLOCK]

You guys realize that very soon there will be ANOTHER Celsius, or Blockfi happening...

And then big well known hedge funds.

And then Medium sized banks.

And then LOTS of medium sized banks...
 
And so on?

Tick tock.

We have known it for years, but some of you are too busy watching the side shows to see it happening now.

[cAPSLOCK]

One big reason for the inflation is that supply is disrupted. Because of 2 men, basically. Putin for starting a stupid war, and Xi for sticking to a stupid COVID strategy. I think the worse one (for the economy) is China, because it causes inflation on everything we get from China, which is basically everything.

We have to hope that at some point Xi will ditch the "saving face" obsession and change course.

Or maybe we don't, and the world order changes quicker than expected.

You are seeing 2 levels deep.  It goes deeper.

[Lambie Slayer]

Cycle Bottom confirmed. (June 15, 2022)

A new Baby Bull Market is born. In time it will grow to be a full grown Raging Bull.  


Bargain Boyz asked me to thank weak hands and gamblers for their sacrifice.



1 day into the new Baby Bull Market and all is well.  

Hey LS, how are those snake bites going?

I donno... while the price seems to be "low enough" already, the timing (bit soon in the bear cycle) plus the levels of whining/"despair" (almost non existent) don't match that well. No mindrusting event -leveraging "accidents" don't count the same as selling purely out of fear- nor enough people thinking this might be the "end" of Bitcoin... Again.

We will see.

Hello.   Snakes are doing well and still far more dangerous than Chinese lab flu's.

https://abcnews.go.com/Health/dr-anthony-fauci-tests-positive-covid/story?id=85416368

This poor fear monger jabbed and jabbed himself and every child who he was able to convince their parents of his nonsense and still couldn't escape from his deadly mild symptoms that have rendered him totally fine.  


Back to corn discussion:


Hitting the old 2017 all time highs is unprecedented and will seal our bottom.

We never got the traditional blow off top (Chinese mining exodus rained on that one) so the cycle timing makes sense.

This thread is not the place you are gonna find the panic and fear selling of prior cycles. Its full of veteran soldiers who have seen it all and know better. Look to stockwits and altcoin forums for the things that used to happen here.

[savetherainforest]

That argument defeats itself, because it cuts both ways:  You fail to account for leverage in the opposite direction.

I strongly suspect that the current $20k–$22k range is a mirage, caused by massive organized dumping of the market using borrowed coins.

The price range right now is not real, except to three types of people:  (a) Fools who got long-squeezed and liquidated like me, (b) buyers who prudently kept reserves available to buy BTC now, and (c) whoever the hell is reaping huge dollar profits from shorting Bitcoin.  OK, well, I guess that the price now is real.  By your argument, it is not real.

You mean like exchange owners house trading on the own exchanges, naked shorting with re-hypothecated coins to push the price below real market value in order to scoop up more cheap coins?

That's pure crazy talk! No way they are doing something like that! /s

No doubt in my mind thats why the top was at least 20% lower than expected this cycle.

Derivatives are weapons of mass destruction, just a way for those in power to scoop off the top of a market..

So I have not expressed it a lot here but have spoken about it a bit on twangler.  Caitlyn whasserface who likes to talk a lot about "blockchain" from Wyoming...  She's always kinda given me the jibbities, but  one thing she brought to the fore for bitcoinners is "rehypothication".

I have often exchanged with her that I believed that one day we would see companies who try that (with a mathematically perfect bearer asset) get their asses handed to them.

Well..  Luna... Celsius, Blockfi?

Who is next?  We can only hope this is the "big one".  But still, allow me to smear my bullish interpretation all over it.

This will end up getting the attention of all the money people who have STARTED to get the idea that Bitcoin is different.  They will realize you cannot actually rehypothecate a digital bearer asset.  Because it is a  margin call waiting to happen.  Yes you can play all kinds of games with shitcoins... but ultimately Bitcoin is the backbone of it all.  And it does not suffer from those flaws.  There are no reserve banks to bail out these idiots.

It will take collateral damage like it is now...  But this is going to wake people up.  I think.

I am still waiting for the bull run for this cycle!

I like your optimism but the bottom line is derivative are the means by which those in control steal from the holders.

https://bitcointalk.org/index.php?topic=2730822.0

So you think they will keep it down below X by selling versions of it that do not exist?  And yeah... my optimism has coset me a lot of potential money over the years.

It has also made me rich as fuck.  Lol.  I am not sure if I am mad or not... I might end up mad, I guess.  Gotta know when to fold 'em as Kenny said.  I might end up mad, AND poor.  But I am thinking not.

Imagine being able to buy 100 Bitcoin for something like $300k.  How many will be selling?  

I will not be selling.

READ WITH ATTENTION WHAT I SAY!!!!!!!!!!!

THEY CAN TRADE THE PRICE INTO UNLIMITED TrADING! AS LONG AS THERE ARE PHYSICAL COINS ON THE EXCHANGES! THAT IS WHY THEY BLOCKED WITHDRAWALS!!!!

IF YOU hAVE THE COINS ON THE EXCHANGE IT MEANS THAT YOU CAN TRADE IT DOWN TO UNLIMITED AMOUNTS BEcAUSE THEY CAN INJECT EVEN 1 TRILLION $$ AND GAMBLE IT DOWN !

THE ONLY BREAKDOWN WILL BE WHEN EVERYONE WILL BE HOLDING ON THE EXCHANGES AND NOT TRADING IT! WHEN THEY CAN'T DRAW OUT OF THE GAME BUT ALSO CHOSE NOT TO PLAY !

So... in conclusion, we are going down with the price some more until people will stay on the sidelines with their stashes and wait for the exchanges to let them pull their funds out into their private wallets.    

[Biodom]

You guys realize that very soon there will be ANOTHER Celsius, or Blockfi happening...

And then big well known hedge funds.

And then Medium sized banks.

And then LOTS of medium sized banks...
 
And so on?

Tick tock.

We have known it for years, but some of you are too busy watching the side shows to see it happening now.

Well, but something would be stabilizing...imagine how much interest Apple, Google, Berkshire would get on their cash?
Highly leveraged players might go bankrupt.
Nobody thinks that RE goes to be affected, but i don't see how it won't with 6.3% mortgages.
I see that defi and all "financial apps" on non-bitcoin would get crushed.
I see that bitcoin would act as savings...then as spending source..and that's it.
There would be no financialization as the financial house of cards just can't survive all those ups and downs (at some point).
Whether it is this cycle (of up and down interest rates) or not, it's hard to say.
Maybe penultimate.

[hisslyness]

Another week filled with excitement! Lifted directly from the mouth of Big Kev "I’m excited!"

I hope everyone here has taken this opportunity to increase their stash, using whatever method available they’re comfortable with, DCA/BTD/BTFD/BTFFD or even TA (Trading Astrology  ), anything, other than Margin Gambling\Trading!

I opted for DCA to add to the stash. In fact, these buy will be allocated to my Great Grand Children. I went all the way down to $17,000.00.

Do I think the price will go sub $20K, don’t know and most importantly, I don’t care...

We’ve all been here before, we’ve all seen this same scenario, time and time again, and hopefully no one is in "Shock and Awe" of the situation.

[ChartBuddy]

Explanation

[Gachapin]

Quote of the day:

This thread is not the place you are gonna find the panic and fear selling of prior cycles. Its full of veteran soldiers who have seen it all and know better. Look to stockwits and altcoin forums for the things that used to happen here.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation