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Question: What happens first:
New ATH - 42 (71.2%)
<$60,000 - 17 (28.8%)
Total Voters: 59

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26355594 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
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April 24, 2023, 12:01:21 PM


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April 24, 2023, 01:01:17 PM


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April 24, 2023, 02:30:35 PM

I’m starting to worry that the correction might go deeper. I’m usually a good reverse indicator though so it probably means the bottom is in for now  Grin Cheesy

Hoping for a rally back to $30,000 this week. We do not want to see the prove move down to the lower $20,000’s.

HODL strong boys!

Agreed.
Since my DCA will trigger next Monday, the price should be back over $30k before.

my dca is this weds. so we rally mon and tues

Haven't seen a summary of your DCA for a while now...
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April 24, 2023, 02:56:35 PM

Off-topic tip:

For those who feel they want to get back to reading more books: buy a Kindle. You will be reading more books in more places and your eyes will love it. Feels like a real book (except for the paper smell of course) and adds many cool features that really enhance your reading experience.

Very pleased so far. Recommended!
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April 24, 2023, 03:01:22 PM


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April 24, 2023, 03:50:10 PM
Merited by El duderino_ (10), Hueristic (1)

I was "playing" with bitcoin numbers and have some thoughts on the matter.

Tops ($): 31, 1160, 19780, 68900

To me, it looks like the ATH number 'should have been' $154000 instead of $68900 in the prior peak.
Therefore, it suggests that it was not a "natural" progression, but interference from multiple sources (we all know that Chinese interfered first by shutting down mining and then the rally simply run out of steam due to time constrains plus the beginning of a tightening cycle). In the case of "natural progression" the multiplier might have been 7.8X in a 37X, 17X, 7.8X series-those are multiples from the prior post-halving ATH (and I don't count first peak in 2013). Therefore, the next (2024-2025) peak theoretically should be a 3.58X of the prior peak (which should have been 154K), suggesting a higher bound value of 551K and a lower bound of 246.9K (a product of 68.9X3.58). This suggests that if left alone, bitcoin could produce a super-cycle to "compensate" for the prior cycle underachievement.

However, the trough series are more menacing:
Bottoms: 2, 175, 3200, 15700 (tentatively)

Therefore, the multiple in these series are 87.5X, 18.3X and 4.9X, suggesting that the next trough would be maybe at 1.6X of 15700 or 24600.
If next trough to peak is 0.3 (3 percentage points better than 77% in the current cycle), this would suggest ATH of "only" 82K, which would be a disappointment to many, including myself.

TL;DR The cycle got messed with last time and it is not clear if there would be a "rebound' to the "natural" progression in the form of a 'super-cycle" or not. If yes, then 246-551K is achievable and if not, we might peak at much more pedestrian 82K.




If you want to know what the next cycle top will be, just wait for another Bitcoin prophet like PlanB to come out with some bogus model claiming the "assured" price number it'll cross, and all the shill bots coming out to support that theory all over social media.

The next top will fall well short of that number, whatever the fuck it is. Guaranteed.  Wink

EDIT: Here ya go, the MSM has already started the bs:

https://www.cnbc.com/2023/04/24/bitcoin-btc-price-could-hit-100000-by-end-2024-standard-chartered.html
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April 24, 2023, 04:01:17 PM


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April 24, 2023, 04:20:03 PM

Two years ago I started a celebration thread for my 10,000th post, and just now, shortly after my 9-year anniversary on the forum and once again crossing the 10k mark,* I finished the thread!

It encapsulates my Top 10 Forum Moments, or at least that I could remember anyway. The Wall Observer thread makes two appearances. You don't have to read the whole thing, but you should at least take a look at it as I spent several hours on it dammit and don't have anybody else to show it off to.


*I deleted several shitposts, failed one-liners and <invalid image> posts at one point in the last two years.
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April 24, 2023, 04:50:42 PM
Last edit: April 24, 2023, 05:42:23 PM by OutOfMemory
Merited by nutildah (1)

Two years ago I started a celebration thread for my 10,000th post, and just now, shortly after my 9-year anniversary on the forum and once again crossing the 10k mark,* I finished the thread!

It encapsulates my Top 10 Forum Moments, or at least that I could remember anyway. The Wall Observer thread makes two appearances. You don't have to read the whole thing, but you should at least take a look at it as I spent several hours on it dammit and don't have anybody else to show it off to.


*I deleted several shitposts, failed one-liners and <invalid image> posts at one point in the last two years.

Glad you're back, it has been a looong time without you here since 2020...  Wink
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April 24, 2023, 05:01:17 PM


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April 24, 2023, 05:04:32 PM

26k is in site.
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April 24, 2023, 05:51:52 PM

HODLING  is the key.#bitcoin


HOlding the Arsenal center defender?. I know that guy know something.

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April 24, 2023, 06:01:21 PM


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April 24, 2023, 06:40:24 PM
Merited by El duderino_ (10)

let's see

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April 24, 2023, 07:11:10 PM
Last edit: April 24, 2023, 07:26:01 PM by Gachapin
Merited by JayJuanGee (1), darkangel11 (1)


The WEF launched an ad for BTC mining, calling it data centers  Cheesy
https://www.weforum.org/videos/this-start-up-catches-waste-methane-to-power-data-centres#




https://twitter.com/PlebSignalBTC/status/1650274674113142790
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April 24, 2023, 07:25:12 PM
Merited by El duderino_ (15), JayJuanGee (1)

Here's something interesting, which proves that bitcoin price isn't as speculative as some people want us to believe.
A large deviation could be seen in November after the FTX news where bitcoin became largely oversold.
In the last 4 months it became oversold only once according to this chart (in March) and since that time both the price and mining cost went up.



https://www.coindesk.com/business/2022/10/12/bitcoin-miner-crusoe-energy-buys-fellow-flared-gas-operator-gam/

-So you use flaring for what?
-Bitcoin mining
-Nono, this is a banned word here, can you say something else?
-Data centers?
-Yes, say data centers, future of science! Klauss said no bitcoin on our site!
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April 24, 2023, 07:55:06 PM
Merited by JayJuanGee (1)

@Bitcoin_for_Freedom
This Bitcoin Halving:
- Pandemic
- China ban
- Luna crash
- Celsius crash
- FTX crash
- SEC FUD
- Rate hikes
- War
- Recession

The price is so suppressed that the recoil will melt faces.
https://twitter.com/btc_for_freedom/status/1650560014560509952


I’ve thought for a long time that the previous cycle high was suppressed due to a number of things.
We are going to explode in 2025.
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April 24, 2023, 08:01:16 PM


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