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

[ChartBuddy]

Explanation

[1714225785]

1714225785

[1714225785]

1714225785

[1714225785]

1714225785

[MusaPk]

Same place, Same memory with gap of 58 years.

Image from: Facebook

[LFC_Bitcoin]

‘Hey LFC_Bitcoin, tell us again about that time you went all in on BTC when everyone else laughed & called it a ponzi.

I love that story, you absolute fucking Chad, especially at Christmas after a few wines’

🎄🎅🧡

[Biodom]

Something is up:

<snip>So this really looks like a major mining capitulation.

Of course it is Christmas and a lot of people are off work but this is a big diff shift.

Very often large difficulty drops if sustained push the price down.

Be ready to a price drop into the 15k range. maybe the elusive 13/14k is in sight.

you get it exactly backwards, imho.

difficulty drop does not affect the price, it's the other way around.
why your thesis is incorrect: if difficulty drops cause price to decrease, then difficulty rise would have to cause price to increase, but we have almost 3X difficulty in comparison with Nov 2021 when bitcoin was at about 70K (more than 4X higher).

Once the price is "too low" the dificulty temporarily drops because marginal/unprofitable miners disconnect.
Once thing is right, though...typically two periods (or more) of significant difficulty drops indicate a price bottom (going forward).

[Biodom]

‘Hey LFC_Bitcoin, tell us again about that time you went all in on BTC when everyone else laughed & called it a ponzi.

I love that story, you absolute fucking Chad, especially at Christmas after a few wines’

🎄🎅🧡

your GF? Nice...
Merry Christmas!

[eXPHorizon]

https://www.youtube.com/watch?v=vOXZkm9p_zY

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[philipma1957]

Something is up:

<snip>So this really looks like a major mining capitulation.

Of course it is Christmas and a lot of people are off work but this is a big diff shift.

Very often large difficulty drops if sustained push the price down.

Be ready to a price drop into the 15k range. maybe the elusive 13/14k is in sight.

you get it exactly backwards, imho.

difficulty drop does not affect the price, it's the other way around.
why your thesis is incorrect: if difficulty drops cause price to decrease, then difficulty rise would have to cause price to increase, but we have almost 3X difficulty in comparison with Nov 2021 when bitcoin was at about 70K (more than 4X higher).

Once the price is "too low" the dificulty temporarily drops because marginal/unprofitable miners disconnect.
Once thing is right, though...typically two periods (or more) of significant difficulty drops indicate a price bottom (going forward).

Yeah normally that is correct.  But when china cut hash by 50% the day after I guaranteed 70k in May the market tanked from high 60's to 29k-30k.  We had the rare price drop filling diff drop.

we double topped back to high 60's in Nov 2021.  So When I see a 22% fall for the last 2 days I see the rare price follows difficulty possibility coming from now to Jan 17. Be ready for it. I am.

Now the caveat is we need to do the 22-30% diff drop.  we are only at -22% for 2-3 days.  Needs to follow until Jan and be -20%

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Gachapin]

could the hashrate drop have to do with Texas miner shut down to support the power grid due to cold weather?

https://cryptoslate.com/amid-the-arctic-blast-texas-miners-voluntarily-shut-down-or-curtail-operations/


If so, that's a live presentation of Bitcoin's usecase to secure the energy grid.. really nice


I always tell interested newbs that Bitcoin is an invention that combines the three fields economics + energy + digital information, while adding a new and revolutional paradigm to each one of them...

damn.... actually Bitcoin is a godlike trinity  ...that's the part I don't say, because I don't wanna sound like a crazy person to them


edit:
Just put that thought in my signature.
I hope that makes sense and I'm not simply too high on hash (of course the Bitcoin related one)

[HI-TEC99]

Happy Christmas.

[Gachapin]

Happy Christmas.

Is this one of the small trees you hang into your (smoker's) car for a better scent?
what do you call them in English?   scented trees, magic trees?

[HI-TEC99]

Happy Christmas.

Is this one of the small trees you hang into your (smoker's) car for a better scent?
what do you call them in English?   scented trees, magic trees?

It's a Christmas tree air freshener (without any presents under it).

[Gachapin]

Happy Christmas.

Is this one of the small trees you hang into your (smoker's) car for a better scent?
what do you call them in English?   scented trees, magic trees?

It's a Christmas tree air freshener (without any presents under it).

thanks for the English lesson.

jeez I remember I often used to get socks from my grandma... I always thought who in his right mind expects children to be pleased with socks for Christmas..
Today I understand that she was the WW2 generation and now it all makes sense...
Thanks grandma..    

[HI-TEC99]

Happy Christmas.

Is this one of the small trees you hang into your (smoker's) car for a better scent?
what do you call them in English?   scented trees, magic trees?

It's a Christmas tree air freshener (without any presents under it).

thanks for the English lesson.

jeez I remember I often used to get socks from my grandma... I always thought who in his right mind expects children to be pleased with socks for Christmas..
Today I understand that she was the WW2 generation and now it all makes sense...
Thanks grandma..    

I used to get handkerchiefs, but I wanted a video game.

[ChartBuddy]

Explanation

[Gachapin]

Happy Christmas.

Is this one of the small trees you hang into your (smoker's) car for a better scent?
what do you call them in English?   scented trees, magic trees?

It's a Christmas tree air freshener (without any presents under it).

thanks for the English lesson.

jeez I remember I often used to get socks from my grandma... I always thought who in his right mind expects children to be pleased with socks for Christmas..
Today I understand that she was the WW2 generation and now it all makes sense...
Thanks grandma..    

I used to get handkerchiefs, but I wanted a video game.

are you a girl?  if not handkerchiefs seem really extreme yo