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Question: Price Target for Nov. 30, 2024:
<$75K - 4 (3%)
$75K to $80K - 1 (0.8%)
$80K to $85K - 2 (1.5%)
$85K to $90K - 10 (7.6%)
$90K to $95K - 15 (11.4%)
$95K to $100K - 28 (21.2%)
>$100K - 72 (54.5%)
Total Voters: 132

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26623242 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 1 users with 9 merit deleted.)
WatChe
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July 02, 2022, 12:11:28 PM
Merited by JayJuanGee (1)


That's the spirit...


"The longer Bitcoin hangs out sub-$20K, the more fiat-funded crypto garbage disappears forever.
Burn it all down - I'll be stacking Sats."

https://twitter.com/stackhodler/status/1542843661523861504?cxt=HHwWgIC-0diIpOkqAAAA

Peter schiff reply to this tweet:

Because #Bitcoin whales succeeded in pumping Bitcoin close to $70K, it's much easier for them to unload more worthless Bitcoin at $20K, as those suckers who are buying think they're getting a bargain. These "bargain" hunters averaging down will eventually be known as bag holders.

Quite interesting
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July 02, 2022, 12:21:09 PM
Merited by bitcoinPsycho (1)

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July 02, 2022, 12:29:04 PM


That's the spirit...


"The longer Bitcoin hangs out sub-$20K, the more fiat-funded crypto garbage disappears forever.
Burn it all down - I'll be stacking Sats."

https://twitter.com/stackhodler/status/1542843661523861504?cxt=HHwWgIC-0diIpOkqAAAA

Peter schiff reply to this tweet:

Because #Bitcoin whales succeeded in pumping Bitcoin close to $70K, it's much easier for them to unload more worthless Bitcoin at $20K, as those suckers who are buying think they're getting a bargain. These "bargain" hunters averaging down will eventually be known as bag holders.

Quite interesting


Not really interesting, it is just the usual waffle from Peter
ChartBuddy
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July 02, 2022, 01:01:20 PM


Explanation
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Take profit in BTC. Account PnL in BTC. BTC=money.


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July 02, 2022, 01:11:10 PM
Merited by Richy_T (2)


That's the spirit...


"The longer Bitcoin hangs out sub-$20K, the more fiat-funded crypto garbage disappears forever.
Burn it all down - I'll be stacking Sats."

https://twitter.com/stackhodler/status/1542843661523861504?cxt=HHwWgIC-0diIpOkqAAAA

Peter schiff reply to this tweet:

Because #Bitcoin whales succeeded in pumping Bitcoin close to $70K, it's much easier for them to unload more worthless Bitcoin at $20K, as those suckers who are buying think they're getting a bargain. These "bargain" hunters averaging down will eventually be known as bag holders.

Quite interesting

Schiff is evidently unaware that some people actually use Bitcoin as money.  He would be entirely correct, if there were no purpose to Bitcoin other than buying it and waiting for “number go up”.

(inb4 Jay strawmans me as making a “bigblocker” argument for pointing out that Bitcoin is not a Ponzi...)

There are people with businesses that are dependent on Bitcoin, for purposes other than Bitcoin trading.  There are individuals who use Bitcoin just because it’s better money.  At some point, even if every regular of the Speculation forum were to mindrust, falling prices would slam into the wall of demand from people who need BTC to use BTC.  I do not only mean medium of exchange:  This also includes people who use Bitcoin as a store of value due to its non-speculative qualities as a store of value.

My perspective:  I used Bitcoin for years, and used this forum for years, before I ever even set foot in Speculation, let alone the Wall Observer.  Bitcoin made me care about its purchase power (“price” as a proxy for purchase power), after I was already in some degree economically dependent on it.  Even today, I am bored by the market unless either (a) I am seeking to buy more BTC, or (b) I am desperate to buy more BTC because I just lost my BTC, or (c) on the flipside, I need to spend some money.  Most of my WO posts are entirely off-topic.

How many are like me, in that aspect?

There is your absolute worst-case Bitcoin bottom:  Organic demand.

As I have said before, this is why I urged for years that slower growth was desirable.  It makes the market more stable—more robust.  It also makes the absolute worst-case bottom higher:  The notional price that will be reached if every speculative investor mindrusts out.

Useless coins have no bottom.  They can go to zero or negligible value, because nobody wants them for any purpose other than to sell for a higher price to the greater fool.

Because Bitcoin is Bitcoin, i.e. a scarce thing used as standard money, it is like gold.  Is Schiff worried about the bagholders for gold? Roll Eyes
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July 02, 2022, 01:22:10 PM

I will leave as an exercise to the reader the question of whether, if they could see America now, the signers of the American Declaration of Independence would run back to the king screaming, “Please forgive us!  Take us back!  We made a very big mistake!”

Just bear in mind that in that circumstance, they would likely also be able to see England now.
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July 02, 2022, 01:34:38 PM


That's the spirit...


"The longer Bitcoin hangs out sub-$20K, the more fiat-funded crypto garbage disappears forever.
Burn it all down - I'll be stacking Sats."

https://twitter.com/stackhodler/status/1542843661523861504?cxt=HHwWgIC-0diIpOkqAAAA

Peter schiff reply to this tweet:

Because #Bitcoin whales succeeded in pumping Bitcoin close to $70K, it's much easier for them to unload more worthless Bitcoin at $20K, as those suckers who are buying think they're getting a bargain. These "bargain" hunters averaging down will eventually be known as bag holders.

Quite interesting

Schiff is evidently unaware that some people actually use Bitcoin as money.  He would be entirely correct, if there were no purpose to Bitcoin other than buying it and waiting for “number go up”.

I know he is one of the top anti-BTC sentiment people, and many people just ignore his opinion. But still, I want to hear what he is saying because he is one of the successful investors out there. I do not agree with his opinion about BTC but still, there are many things to learn from a person like him. If we keep criticism aside then he is one of the few people I wants to follow to learn about finance.
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July 02, 2022, 01:44:27 PM


That's the spirit...


"The longer Bitcoin hangs out sub-$20K, the more fiat-funded crypto garbage disappears forever.
Burn it all down - I'll be stacking Sats."

https://twitter.com/stackhodler/status/1542843661523861504?cxt=HHwWgIC-0diIpOkqAAAA

Peter schiff reply to this tweet:

Because #Bitcoin whales succeeded in pumping Bitcoin close to $70K, it's much easier for them to unload more worthless Bitcoin at $20K, as those suckers who are buying think they're getting a bargain. These "bargain" hunters averaging down will eventually be known as bag holders.

Quite interesting

Schiff is evidently unaware that some people actually use Bitcoin as money.  He would be entirely correct, if there were no purpose to Bitcoin other than buying it and waiting for “number go up”.

I know he is one of the top anti-BTC sentiment people, and many people just ignore his opinion. But still, I want to hear what he is saying because he is one of the successful investors out there. I do not agree with his opinion about BTC but still, there are many things to learn from a person like him. If we keep criticism aside then he is one of the few people I wants to follow to learn about finance.

There are some useful things that Peter has to say..... just not about BTC.  His track record is basically a laughing stock in this regard
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July 02, 2022, 02:01:21 PM


Explanation
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Note the unconventional cAPITALIZATION!


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July 02, 2022, 02:10:51 PM
Last edit: July 02, 2022, 02:23:24 PM by cAPSLOCK

The masses are both inert and stupid.  Moreover, overthrowing an established government requires resources.  A revolution always needs organization, charismatic leadership, propaganda, and lots and lots of money.

Rather than quote your entire piece I will quote what I think is a summary you made early on.

My point was I think the world is (I suppose as it always is) in a very unique time when a Chinese company (lol company) can manufacture a simple application and capture the attention of an entire Western generation. The communication system of the people has changed in a way  that was impossible to foresee for most during my own childhood.

The resources for revolution and warfare do cost a lot of money, yet some of the can be copied endlessly now for nothing.  And by the very masses you intend to conquer. Digital trojan horses at the gates of every city.  Already inside the gates, a million times.  And digital defenses as bulwarks for freedom.  The self sovereignty kind.  Not the apple pie kind.

It is different now.

I dunno... I thought that about this bitcoin cycle too... And here's the thing... I think it IS different now, both in bitcoin and in this topic.  And just the same as ever.

One thing that seems to be different about this particular time is it seems to me the vast majority of folks have NO IDEA what is happening.  I may be among them.  I do not think people realize how deep into the digital war we are.

The two great wars of the 20th century (really one war perhaps still going now) have been called the "World Wars".

Either we rename them someday (The Great Kinetic Wars?), or we eventually recognize they were never over in 1945 or 1950, 1955, 1971 , 2003 or 2020.  Perhaps this is the culmination of all that, and the board has changed so much. But this is a World War in a sense we have never seen.  On a scale that is truly planet wide.  And perhaps we realize the point was never to stamp out "nazism/communism/capitalism" but to try to set the board in a way to take it all for whatever ism you want.  And new powerful players have entered the game over the years.  Some rather quietly.

Yeah.  I agree with you.  The masses really don't have a chance.  They don't know what rising up even means, or where to go.  They do not even know who their masters are.  Certainly not themselves.

"May you live in interesting times", one culture in today's war once said.

"We've always been at war with Eastasia .", said the prophets of another.

Sums it up pretty well from my confused vantage.

Interesting times indeed.
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July 02, 2022, 02:24:58 PM



https://www.youtube.com/watch?v=MlnDf3e3PQ0

 Grin
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July 02, 2022, 02:36:33 PM




Dunno.. ..... We will see about that. My advice: Hide your wife, hide your house, hide your wallet, hide your kids, your dog and your wholes. They are coming for them.   Roll Eyes   Roll Eyes

(And You Will Need To Fight Back!)  Cool  Cool
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July 02, 2022, 03:03:33 PM


Explanation
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July 02, 2022, 03:10:59 PM




Dunno.. ..... We will see about that. My advice: Hide your wife, hide your house, hide your wallet, hide your kids, your dog and your wholes. They are coming for them.   Roll Eyes   Roll Eyes

(And You Will Need To Fight Back!)  Cool  Cool

Hehe not the Things to Hide Except for the Wholes.

They Coming but for what
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July 02, 2022, 03:24:01 PM


That's the spirit...


"The longer Bitcoin hangs out sub-$20K, the more fiat-funded crypto garbage disappears forever.
Burn it all down - I'll be stacking Sats."

https://twitter.com/stackhodler/status/1542843661523861504?cxt=HHwWgIC-0diIpOkqAAAA

Peter schiff reply to this tweet:

Because #Bitcoin whales succeeded in pumping Bitcoin close to $70K, it's much easier for them to unload more worthless Bitcoin at $20K, as those suckers who are buying think they're getting a bargain. These "bargain" hunters averaging down will eventually be known as bag holders.

Quite interesting

As far as I can see he didn't reply to that tweet
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July 02, 2022, 03:34:40 PM




Dunno.. ..... We will see about that. My advice: Hide your wife, hide your house, hide your wallet, hide your kids, your dog and your wholes. They are coming for them.   Roll Eyes   Roll Eyes

(And You Will Need To Fight Back!)  Cool  Cool
Let's take it up the mountain with the speed of light...
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July 02, 2022, 04:03:27 PM


Explanation
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July 02, 2022, 04:16:52 PM

Today's tweets and Marketing is about as useful as a condom at a convent.  Grin
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July 02, 2022, 04:44:33 PM
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We are here to stay, we are here for long. Grin
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July 02, 2022, 04:47:24 PM
Merited by El duderino_ (21), cAPSLOCK (3)

the morning wall report


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the previous bear market lasted approximately 1 year and saw a -84.12% retrace...projecting that forward would see the current downtrend start to resolve in 4-6 months
  
the long dagger fall showing capitulation and the beginnings of a bottom formation are presenting...i am not convinced the pain is over completely yet however...even with the -74.50% correction in play

on the brighter side...the lower support/resistance levels on the schiff fork have hedl up well

as always...waiting for confirmation of a trend change is prudent

steady as she goes gentlemen

monthly bear market comparison



modified daily schiff fork tracking lower boundary s/r

stronghands
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