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

[ChartBuddy]

Explanation

[1715207520]

1715207520

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Unknown Op]

The most notable events in previous week:

🔖 Bitcoin tested below $16,000

🔖 FTX filed for bankruptcy and Sam Bankman-Fried resigned

🔖 Huobi accused the pNetwork team of "malicious behavior" in the GALA incident

🔖 Court recognizes startup LBRY tokens as securities

🔖 Developers add crosschain bridge aggregator to MetaMask

🔖 Changpeng Zhao warned of a "cascading" crisis in the crypto industry

[ChartBuddy]

Explanation

[AlcoHoDL]

I've just received an email from Kraken, with the usual "your funds are safe, we keep our coins 1:1" message. I don't have any significant amount of coins in there (just some leftovers from moving whole amounts of coins out to my Trezor), but I guess the email gets sent to all registered users.

Personally, I don't think Kraken is at serious risk of collapsing in the manner of FTX/Celsius, and I would be very surprised if this happened. But one can never be too careful when it comes to coin custody. So, even with Kraken, and as always, I would apply the "not your keys, not your coins" rule.

Be extra careful, WOers. It's one thing to be a nocoiner, but quite another to become a nocoiner. The pain is orders of magnitude greater.

[LFC_Bitcoin]

Thought of letting y'all know... I lost a lot at FTX. Like really, A LOT. For a long long time, I won't be in a position to re-enter BTC. I'm so done.

"Not your keys, not your coins"

At the end of the day, I think y'all outperformed me. It'd not have happened if it weren't for Sam, though. But... whatever.

Sorry to hear this, brother. I don’t have anything that will make you feel any better.

You are alive, healthy & strong. You have your health, surround yourself by friends, family, good people. Work hard & you can succeed with anything you put your mind to.

Maybe you can join a signature campaign & earn little bits of corn, just save it for retirement. Even 0.05BTC could be a good nest at retirement age probably. I know it’s heartbreaking now but a hedge against the fiat system is a good idea. Start small, maybe you’ll get your appetite back as time passes & you can work towards being a ‘whole coiner’.

I wish you the very best!

[AlcoHoDL]

WARNING: Extremely simplistic math predictions follow:

End-of-2017 ATH: $19666
End-of-2018 Bottom: $3122
ATH / Bottom Ratio: $19666 / $3122 = 6.3

4 years (a Halving) later...

End-of-2021 ATH: $69000
End-of-2022 Bottom (predicted): $69000 / 6.3 = $10952
ATH (2021) / ATH (2017) Ratio: $69000 / $19666  = 3.5

4 years (a Halving) later...

End-of-2025 ATH (predicted): $69000 x 3.5 = $241500

Bitstamp prices.

[shahzadafzal]

Wow that so simple like 1+1=2

Let me complete the cycle, may I?

WARNING: Extremely simplistic math predictions follow:

End-of-2017 ATH: $19666
End-of-2018 Bottom: $3122
ATH / Bottom Ratio: $19666 / $3122 = 6.3

4 years (a Halving) later...

End-of-2021 ATH: $69000
End-of-2022 Bottom (predicted): $69000 / 6.3 = $10952
ATH (2021) / ATH (2017) Ratio: $69000 / $19666  = 3.5

4 years (a Halving) later...

End-of-2025 ATH (predicted): $69000 x 3.5 = $241500
End-of-2026 Bottom (predicted): $241500 / 6.3 = $38333    <-------

Bitstamp prices.

[NeuroticFish]

ATH (2021) / ATH (2017) Ratio: $69000 / $19666  = 3.5

Since the numbers/ratios for the previous cycles are not 3.5 and 6.3, they will most probably not be 3.5/6.3 for current/future cycles either.
So the math is too simplistic and, sorry, but probably wrong.

[hisslyness]

Operation: Bring Them Home - MISSION ACCOMPLISHED

It has been a very long time since I had full custody of all my Bitcoins. Well 99.9% of them.

Still waiting on a small amount to be reactivated at BitFinex, withdrawal frozen for 5 days due to activation of LN-Bitcoin. Will send this directly to my LN Node

And a small DCA amount at my local exchange (the bulk has come home – read below) and yes there was a wee bit more than I should have had on there….
 
My problem started on 28th October, that really drummed the #NYKNYC home.

The local exchange I used here, been using their services since 2014. It had been 3 months since I had last logged in. I thought now would be a good time to setup some buy ladders and when I went to login, my account was locked out for some unknown reason.

Message was to contact support. Naturally I sent a support request and thought maybe I would get a reply in a few hours. A few hours went by, and not response, replied to the automated email, and waited and waited. Started to get a little worried. So I thought, I’ll call them, only to find there isn’t a phone number anymore. Remembered, I had an OTC Reps mobile number, rang it, and it was disconnected.

Alarms bells started going off! I googled and checked for any news about this exchange, there wasn’t anything alarming, but I still wasn’t happy with the lack of communications. I found their registered address and google street viewed them, only to find it was a mailing forwarding front. (Found out later it was to protect them. Due to scammers, they have been targets of death threats etc)

More hours spent trying to track employees and owners and their contact emails or phone numbers… no luck! I had names and emails (that bounced back, they must not allow external comms) but no active phone or mobile numbers…

I finally got a reply to the support query, this was 5 mins before close of business Friday, saying they locked my account because of suspicious activities and to request a call from one of their KYC Support Team.

WTF?.. ok I’ll play along, booked the next available time, 9:30am Monday, I waited and waited, no calls, no reply, no comms. Rebooked for 2pm and finally a call from a private number. Back and forth proving who I was and what I do, and I also made sure they were who they are and that we both were not trying to scam each other.

Found out they halted my account because I accidentally pressed on increase my deposit limit! They wanted to know why I wanted to increase my limit!.... and that they had locked it back in July, over three months ago! never bothered to contact me about it!..

Got back into my account and that was when Operation: Bring Them Home commenced!

Start generating new cold wallets. Logged and planned for the retrieval of all the outstanding SATs I had on of mining pools and exchanges I once traded my BCH/BTG and other shitty airdrops.

Then FTX happened!....

If it is one thing you get out of this whole FTX saga, I really hope it is #NYKNYC.

This must be ingrained in everyone Bitcoin Accumulation Strategy. BRING THEM HOME!

[ChartBuddy]

Explanation

[AlcoHoDL]

ATH (2021) / ATH (2017) Ratio: $69000 / $19666  = 3.5

Since the numbers/ratios for the previous cycles are not 3.5 and 6.3, they will most probably not be 3.5/6.3 for current/future cycles either.
So the math is too simplistic and, sorry, but probably wrong.

You're probably right, but consider that Bitcoin is maturing, so things get progressively more stable and, dare I say, more predictable.

Will see how things play out.

[bitcoinPsycho]

About fucking time

https://cointelegraph.com/news/exchange-outflows-hit-historic-highs-as-bitcoin-investors-self-custody

[LFC_Bitcoin]

WARNING: Extremely simplistic math predictions follow:

End-of-2017 ATH: $19666
End-of-2018 Bottom: $3122
ATH / Bottom Ratio: $19666 / $3122 = 6.3

4 years (a Halving) later...

End-of-2021 ATH: $69000
End-of-2022 Bottom (predicted): $69000 / 6.3 = $10952
ATH (2021) / ATH (2017) Ratio: $69000 / $19666  = 3.5

4 years (a Halving) later...

End-of-2025 ATH (predicted): $69000 x 3.5 = $241500

Bitstamp prices.

I would gladly shake hands on the above scenario.

[ChartBuddy]

Explanation

[nutildah]

from a shitcoiner wannabe /  bitcoin naysayer.

because I pointed out that Saylor's tweets are silly and nobody outside of a small circle respects him I'm now a "bitcoin naysayer?"

none of what I wrote had anything to do with bitcoin per se, just Saylor. his tweets make him look like a ridiculous person. do you require further examples?

lol u r big mad.  

[somac.]

About fucking time

https://cointelegraph.com/news/exchange-outflows-hit-historic-highs-as-bitcoin-investors-self-custody

I second that.

I can understand leaving more funds on an exchange during a bull market (ponzi's and fraud are not usually exposed during bull markets). But during a bear market you make sure you drain everything. Supposedly Warren Buffet said "When the tide goes out you get to see who is swimming naked". Well, exchanges swim naked, always have, possibly always will.

Not your keys, not your coins. How many times does this have to be repeated. Reading comments on twitter, so many don't even know you can self custody. Now what kind of fucked up stupidity is that?

[BitcoinBunny]

from a shitcoiner wannabe /  bitcoin naysayer.

because I pointed out that Saylor's tweets are silly and nobody outside of a small circle respects him I'm now a "bitcoin naysayer?"

none of what I wrote had anything to do with bitcoin per se, just Saylor. his tweets make him look like a ridiculous person. do you require further examples?

lol u r big mad.  

He's been on Tucker Carlson - the most viewed guy in American news from what I've heard, has millions of followers and gets thousands of likes on each tweet. I highly doubt only a "small circle" respects him.

His tweets may not be super informative at times, like you rightfully criticise and more maxi jokey but Twitter itself isn't really the best format to educate people I reckon.

People go there to follow those they usually already agree with anyway.

I think you possibly went a bit overboard attacking him, which I think one can expect some pushback from here.

[philipma1957]

At the moment My cash withdrawals from coinbase are 3 days Late to hit the bank.

Not sure why but if you are sitting on cash with coinbase like I was you may want to know they are slow to pay it in my case.

I will post back tonight to mention if they send it.