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

[Torque]

BREAKING: US INFLATION HITS 9.1%, A NEW 40-YEAR HIGH

Welp, any hope that the Fed would pump the brakes on rate hikes are now dashed.

They'll probably go another +75 bbp on the next one, which will crush all markets. Again.

Wall Street will continue to short everything.

Bitcoin will still go nowhere.

This whole year was designed to suck ass.

Funny how they crushed both Bitcoin and Precious Metals on the inflation news.  Makes so much sense, right? /s  

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[Gachapin]

BREAKING: US INFLATION HITS 9.1%, A NEW 40-YEAR HIGH

....

Funny how they crushed both Bitcoin and Precious Metals on the inflation news.  Makes so much sense, right? /s  

I guess no one should be able to hide, when they perform their GreatReset^TM thingy

[Richy_T]

Inflation reports coming up today..Buckle up  mfs


https://www.nytimes.com/2022/07/06/business/economy/fed-rate-increase-inflation.html

It happened...

*facepalm*

Every damn time...

[ChartBuddy]

Explanation

[Mr.right85]

No better way to get f*cked than the crypto way.

@iFunny                                                      

Nothing else matters until orga$m!

Buy bitcoin and hodl.

[empowering]

Pi cycle low has recently flashed/is flashing  ..... though that does not mean we cannot get further draw down.
 

[ImThour]

Pi cycle low has recently flashed/is flashing  ..... though that does not mean we cannot get further draw down.
 

Pi Cycle Indicator just signaled Cycle Bottom. 

You are late but it's okay.

[aesma]

Not sure if this has been mentioned here. But I got below info from Bitstamp today. Most people should know by now that we should not keep crypto/money on exchanges. But in this case, it might be worth to have a small amount (if you use Bitstamp) in the account. Just to keep the account alive and not have to worry about KYC-process again..

Additionally, by amending our Fee Schedule, we are introducing the inactivity fee for inactive Bitstamp accounts. Bitstamp will have a right to charge you an inactivity fee (10 EUR per month) in case your account balance is less than 200 EUR and no transaction initiated by you or other activity generating rewards occurred in the last 12 months. In case of such inactivity on the account with zero balance, Bitstamp will reserve the right to terminate the account.

All changes will come into effect on August 6, 2022, and will be available under SA Terms of Use.[/s]

Bitstamp has changed their minds all will not introduce an inactivity fee. No reason to keep a small amount of money/bitcoins on the exchange now.
See below update:

A few days ago, you received an email from us regarding changes to our fee structure, specifically the introduction of an inactivity fee for accounts that met certain criteria. Please disregard this email, your account has not been charged and we will not be introducing the inactivity fee.
At Bitstamp, our customers and the security of your funds are our first priority. We strive to offer you the best crypto service and that also means listening to your feedback. After hearing from our community we understand your concerns and changed course.
We are sorry if this caused any inconvenience and thank you for choosing us as your crypto exchange.

I can understand the inactivity fee, but the fee was very high. Then again if you introduce something that unpopular and it doesn't make you any money, it's stupid.

Someone in the marketing department must have figured this out.

[empowering]

You are late but it's okay.

AH yeah, my bad.

Pity there are so few iterations thus far.

Historically the few iterations we have had are ok, apart from 2015, which had further draw down (35% ish +/-) in the following days after the actual MA cross, (depending on the BTC chart you look on)  also different this year is that we already have that wick lower on 18th.


Also, we lost the 200 WMA this time round so, Pi cycle also may not hold.


We shall see.... not convinced yet we have the low in, keeping a close eye at the charts here/this week for sure.... could be either a bottom, or break below in following days as per 2015, but confirm bottom, or at very least could be time to actually have a decent (ish) bounce from here (23-25-28ish). Either way, it is an interesting point right here.


TBH from a bullish outlook, would be good if it does bottom here or here abouts, because if this level breaks and we start to get new lows, and 16ish does not hold.... its going to get fugly.... in 2015 when Pi cycle flashed and there was another 35-40% ish down move, if we got a repeat , you could be looking at 11-12K....and then that would be bottom, looking at the 2015 Pi cycle repeat scenario...  thing is, if that happens, does it really stop there ? annnnnnyway, many ifs there, which is why I am looking closely at what is happening this week/now.

[348Judah]

BREAKING: US INFLATION HITS 9.1%, A NEW 40-YEAR HIGH

Welp, any hope that the Fed would pump the brakes on rate hikes are now dashed.

They'll probably go another +75 bbp on the next one, which will crush all markets. Again.

Wall Street will continue to short everything.

Bitcoin will still go nowhere.

This whole year was designed to suck ass.

Funny how they crushed both Bitcoin and Precious Metals on the inflation news.  Makes so much sense, right? /s  

As a matter of fact there may not necessarily be any significant changes to marginalize the current bitcoin prize as at now till the end of the year as it is believed to be a down turn this time but towards the end of it and tye coming year may bring some new hopes to dash away the prize on a bull run, inflation may continue in fiat but bitcoin is a challenger of it all.

[ChartBuddy]

Explanation

[aesma]

I don't get these US inflation numbers. Oil is lower than its peak, and the US has oil anyway. Natural gas can't be exported fast enough so price pressure is down. Chinese stuff is cheaper as transport is cheaper. Commodities in general are getting cheaper.

In my country inflation is significantly lower, yet the Euro has plunged so much that everything imported is 20% more expensive from the get go.

[ChartBuddy]

Explanation

[philipma1957]

I don't get these US inflation numbers. Oil is lower than its peak, and the US has oil anyway. Natural gas can't be exported fast enough so price pressure is down. Chinese stuff is cheaper as transport is cheaper. Commodities in general are getting cheaper.

In my country inflation is significantly lower, yet the Euro has plunged so much that everything imported is 20% more expensive from the get go.

food prices at supermarkets have been brutal in the usa.


not sure how they do math but if it is based on a dozen jumbo eggs I got them at 1.79 last year and now they are 3.99.

I like to cook so I shop for most all our food.

I go to five stores locally.

Target
Walmart
Shoprite
StopnShop
Local vegetable produce store.

I buy a lot of meat on line.

Prices at every place are way up from last year.

Gas and diesel fuel dropped but I can avoid spending a ton on fuel.

With diabetes I have to buy a lot of higher priced foods.

So yeah inflation has been tough.

[BitcoinBunny]

Since Putin controls EVERYTHING bad that is going on right now; super high inflation ("the putin tax hike"), who is the US president, the price of grain & wheat, the price of bright pink dildos, the price of condoms, gas & energy prices thus the wider economy....
 

.....I take it when things are going well again in a few years time we should all thank him also?

[Ramiza]

I invest for the long-term, DCA and I just invest what Iam prepared to loose. Instead of buying new clothes, Swedish fika and useless gadgets, I put my money in Bitcoin.

https://m.youtube.com/watch?v=bx8nXe9L9ls&feature=youtu.be

[ChartBuddy]

Explanation

[Torque]

I buy a lot of meat on line.

Where do you buy your meat online?

Is it cheaper than what you find in your grocery stores?

[Wilhelm]

I buy a lot of meat on line.

Where do you buy your meat online?

Is it cheaper than what you find in your grocery stores?

Usually people buy meat online so they can get the big cuts for on the BBQ.
Not cheapest but the meat is better quality and not cut to small pieces.

[ChartBuddy]

Explanation