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

[Richy_T]

Exchanges are a "necessary evil". I am sure the sugar grower hates the idea of having his prices being dictated by some guy in suit on wall street, but the reality is, it is a global form of price discovery and if there is money to be made, someone will find a way to exploit it!

Some of us wanted to be buying and selling goods and services directly in BTC with the added advantage that when the economy is shit, everyone doesn't run for the exits so they can feed their family and keep the lights on with filthy $

But, yaknow...

[Richy_T]

 I don't understand what you're saying.  These "investors" gave Sam real money he was supposed to use to grow his company but rather than do that, he squandered it.  They were looking for long-term gains - at what point after they gave Sam their money was it ever worth even just the amount they initially "invested"?  Are you saying Sam only recently became a fraud and there was a time when their investment was worth more?  That's not what I'm reading about this fiasco.

 

Same old deal. When the money printers go brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr, those whose pockets it goes into look for any available shit to stash their ill-gottens. Scams are going to abound in these circumstances.

[HI-TEC99]

Meh, same old same old. FTX not the end of the world as anyone with sense already know. Time to start moving back up.

FTX briefly pulled Bitcoin's trousers down, but it it won't take long to pull them back up again.

[hostm]

Actually things are not so bad. Chippies from FTX and Celsius Network helped us buy bitcoin cheaper 

[Richy_T]

Meh, same old same old. FTX not the end of the world as anyone with sense already know. Time to start moving back up.

FTX briefly pulled Bitcoin's trousers down, but it it won't take long to pull them back up again.

I didn't see anything change about Bitcoin at all. Just sheep being sheared.

[ChartBuddy]

Explanation

[HI-TEC99]

Meh, same old same old. FTX not the end of the world as anyone with sense already know. Time to start moving back up.

FTX briefly pulled Bitcoin's trousers down, but it it won't take long to pull them back up again.

I didn't see anything change about Bitcoin at all. Just sheep being sheared.

Perhaps I should have replaced "bitcoin" with "over leveraged paper hands" in that meme.

[Torque]

OT: Elizabeth Holmes got sentenced to 11-1/4 years prison today.

https://www.zerohedge.com/markets/theranos-founder-elizabeth-holmes-faces-judgment-day

Halle-fucking-lujah! There is some justice in the world.

Especially since she spent a decade spending millions, jet-setting around the globe and hob-nobbing with the elites.

Hope it sends a strong message to any other Silicon Valley narcissist wannabe scammers.

[WhyFhy]

Now's not the time to splurge on Christmas and instead focus on BTC while it's still trying to get up off its ass in this schoolyard fight.

[ChartBuddy]

Explanation

[Biodom]

Whatever the ultimate bottom is, I expect "only" 5-10X in the next cycle (from the bottom).
Why? Prior cycles:
$2 bottom, then $1160 top or 580X
$175 bottom, then $19780 top or 113X
$3100 bottom, then $68900 top or 22X

As you can see, the multiple keeps decreasing drastically (by a factor of about 5) in each consecutive cycle.
Accordingly, the next number for a top is roughly 5X of the bottom, but due to some variability, perhaps up to 10X is possible.
Currently, this would mean either $77.5K (which would be a GREAT disappointment for almost everyone) or up to, perhaps, $155K, which could be OK.

[HI-TEC99]

Whatever the ultimate bottom is, ...

[philipma1957]

Whatever the ultimate bottom is, I expect "only" 5-10X in the next cycle (from the bottom).
Why? Prior cycles:
$2 bottom, then $1160 top or 580X
$175 bottom, then $19780 top or 113X
$3100 bottom, then $68900 top or 22X

As you can see, the multiple keeps decreasing drastically (by a factor of about 5) in each consecutive cycle.
Accordingly, the next number for a top is roughly 5X of the bottom, but due to some variability, perhaps up to 10X is possible.
Currently, this would mean either $77.5K (which would be a GREAT disappointment for almost everyone) or up to, perhaps, $155K, which could be OK.

So 77k-155k next cycle.

 Maybe I remember this quote in a few years.

[Biodom]

Whatever the ultimate bottom is, ...

either you did not read to the bottom of my post or you want to distort the meaning of it.
"currently" and 77.5 being a 5x of 15.5 pretty much shows my opinion of the bottom.

[ChartBuddy]

Explanation

[HI-TEC99]

Whatever the ultimate bottom is, ...

either you did not read to the bottom of my post or you want to distort the meaning of it.
"currently" and 77.5 being a 5x of 15.5 pretty much shows my opinion of the bottom.

I'm just guessing, my bottom is smaller than yours.

This is my guess for what the top will look like.

[ChartBuddy]

Explanation

[OgNasty]

Bitcoin looking eerily stable as volume drops back down to normal.  Seems like somebody is doing some buying and keeping a floor on the price.  The trading range over the last few days is only a few percent.  That to me signals that some sort of market change might be happening.  This is probably a point in time where you don't want to be the guy who capitulated at $16K after riding out the bubble through $60K.  It feels a lot like the pain is coming to an end soon and good times are right around the corner for Bitcoin speculators.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation