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

[hisslyness]

Here is my first Bitcoin Pie (Egg-milk Pie) For the Pie Baking contest. I Thought WO will like it.

Here is my submission:

Recipe:
All-purpose flour, sugar, salt, butter, Condensk Milk, 8 Big Eggs.
As I said, I am the worst at designing something. The topping was Toast powder and Souce.

Tomato Sauce and Condense Milk? I think i just slightly vomited in my mouth...

If anything, you've got my vote for a unique combination...

[AverageGlabella]

Wild moves these days.

I'm trading BTC/USDC and there was a spike to 26000 causing me to sell several steps at this nice price, then buy back much lower. Was that only on my market (a large, established exchange) or did it happen everywhere ?

OK I see what happened, what I was fearing could happen, it's USDC that has issues.

My exposure is quite low but that's annoying, I don't know what to do now. I'm following the SVB thing and it doesn't seem to be a fraud or even a big mistake that caused the problems, and most of the money should be recoverable.

edit : some time ago I had removed most of the ladder steps up for a situation just like this, so that if USDC crashed irremediably I wouldn't be left holding tons of it and having sold all my BTC trading funds.

USDC was prone to problems from the start I do not know why people thought it was stable and would be around forever. Bitcoin is the only cryptocurrency worth investing in and stable coins are not stable they remain stable until people get bored and stop buying and then they collapse. I do not think USDC will collapse this time but in the next 5 years it will not exist. Bitcoin will exist and will be more stable because it is still around when USDC will not.

[John Abraham]

Here is my first Bitcoin Pie (Egg-milk Pie) For the Pie Baking contest. I Thought WO will like it.

Here is my submission:

Recipe:
All-purpose flour, sugar, salt, butter, Condensk Milk, 8 Big Eggs.
As I said, I am the worst at designing something. The topping was Toast powder and Souce.

Tomato Sauce and Condense Milk? I think i just slightly vomited in my mouth...

If anything, you've got my vote for a unique combination...

 
The tomato source is for Topping only. To design the Bitcoin Logo. I am the worst at designing/decorating something.
Condensed Milk And Egg were mixed. The texture was so smooth. Believe me; the test was excellent. I know it doesn't look good. But, It was good. BTW, This is the first time I baked a Pie without an Oven  

[log2exp]

https://www.reuters.com/markets/us/ceo-failed-silicon-valley-bank-no-longer-director-sf-fed-2023-03-10/

Just learned that SVB CEO Greggie used to be a director at the San Francisco Federal Reserve. I don't think the Fed is able to walk away from this mess scot-free.

[ChartBuddy]

Explanation

[psycodad]

I for one am very relieved to hear that the top management at SVB could pay out their boni right on Friday. I mean does nobody think of the managers, working their ass off for us plebs and getting paid in peanuts for the hard work they do (screwing people over full-time is really hard work). If somebody is innocent, then it's them, it's the dumb peasants who expected to get the money out they deposited there who are responsible for this whole fiasco.

Some punter in a local newspaper posted a comment on the SVB story today which immediately resonated with me:

"Bank run, bank run, whatcha gonna do when they come to you?"

I think we are looking forward to a very interesting monday, maybe it will even go down in history as the Bank Run Monday 2023..

[ChartBuddy]

Explanation

[macson]

USDC was prone to problems from the start I do not know why people thought it was stable and would be around forever. Bitcoin is the only cryptocurrency worth investing in and stable coins are not stable they remain stable until people get bored and stop buying and then they collapse. I do not think USDC will collapse this time but in the next 5 years it will not exist. Bitcoin will exist and will be more stable because it is still around when USDC will not.

USDC = RIP ^{(rekt in peace)}

[ChartBuddy]

Explanation

[_Hiloveua_]

USDC was prone to problems from the start I do not know why people thought it was stable and would be around forever. Bitcoin is the only cryptocurrency worth investing in and stable coins are not stable they remain stable until people get bored and stop buying and then they collapse. I do not think USDC will collapse this time but in the next 5 years it will not exist. Bitcoin will exist and will be more stable because it is still around when USDC will not.

USDC = RIP ^{(rekt in peace)}

Since USDC lost its stable value, USDC holders are increasingly leaning towards BTC and buying BTC. So Bitcoin holders wait and see 30k very soon.

[BitcoinBunny]

It's OK folks; this bank run is just transitory.


 

[ChartBuddy]

Explanation

[LFC_Bitcoin]

It's OK folks; this bank run is just transitory.


 

Seems a hell of an under current from supposed in the know, financial minds on Twitter. I was too young to be affected myself in 2008 but something similar looks to be very possible, imminently too.

I just hope bitcoin doesn’t get too badly affected.

Edit - Just to add, there is no better place for my money right now than in bitcoin. Short to medium term fiat pairings don’t mean shit.

[Lainta]

JUST IN: 🇺🇸 US government to make announcement on Silicon Valley Bank to prevent further fallout.

https://twitter.com/WatcherGuru/status/1634938060004802561?t=mg4lyfOzhxvdmG_0hDP4RA&s=19

[Lucius]

<Imagine/ a Bitcoin brand bottle of vodka.>

Imagine a Bitcoin brand of wine - I don't have to imagine, I've already tried it, it tastes great

[shahzadafzal]

dont put more in banks than you can afford to lose

https://twitter.com/jebus911/status/1634730544670932992

[shahzadafzal]

JUST IN: 🇺🇸 US government to make announcement on Silicon Valley Bank to prevent further fallout.

https://twitter.com/WatcherGuru/status/1634938060004802561?t=mg4lyfOzhxvdmG_0hDP4RA&s=19

“Chancellor on Brink of Second Bailout for Banks”

[philipma1957]

Man I stopped fighting buddy and all hell broke loose.

I will continue to not contest buddy and hope for a more interesting effect.

I will say this SVB appears to have been targeted with a massive run by depositors.

Wonder what Mon and Tues bring us

[dogebearman]

“Chancellor on Brink of Second Bailout for Banks”

How can they just keep doing this?
Enough!
It's time for someone to invent decentralized, permissionless money.

[ChartBuddy]

Explanation