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

[BitcoinBunny]

https://bitcoinnews.com/bitcoin-price-volatility-uk-inflation-problems/

"Inflation in the U.K. remains stubborn, leading to suggestions that the Bank of England will raise interest rates further. Prolonged high rates are expected to cause significant volatility in asset prices, including bitcoin."

Isnt it wrong... Low interest rates drive crazy boom and bust cycles. Lower interest rates are more dangerous for economy and assets including cryptocurrencies.

Both are terrible.

Regardless, the retail banks in the UK are taking no notice of higher interest rates when it comes to offering good products for savers at the moment.
Which means they are in fact nullifying the whole higher interest rate tool by the Bank of England.

Classically from a retail banking pov:
High interest rates: keep your money in the bank, it's a better option, save, spend less.
Low interest rates: Spend everything, there is no return keeping it in the bank.

The top option doesn't work properly if inflation is higher than the interest rate (which it still is in the UK) and it especially doesn't work when retail banking refuses to play ball.

-------

Finally the propaganda media in the UK are accepting that there is at least a problem with house prices.

In my area I've seen 1 house shift in the last year. Usually there would be between 10-20 per year.


Brace for a big old collapse that is going to make 2007-2009 look like a walk in the park.

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[nlovric]

U.S. Senate Passes Debt Ceiling Bill

The U.S. House of Representatives and Senate passed a bill to raise the debt ceiling with bipartisan support from Democrats Republicans and independents. The bill is currently awaiting President Joe Biden signature to prevent a possible default and its negative impact on the economy and world markets. The Senate rejected all proposed amendments to ensure a quick resolution and avoid further complications.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[nutildah]

Bybit Exchange Pulls Out Of Canadian Markets Due To Regulatory Shifts

Due to recent regulatory changes Bybit Exchange has announced its decision to cease operations in Canada following in the footsteps of Binance and OKX. Stricter measures by the Canadian government including a pre registration process and a ban on leveraged trading prompted Bybit to suspend its service and ban deposits and new registrations from July 31. Users are advised to close their positions before September 30th. All remaining positions will be liquidated for withdrawal of funds.

@JayJuanGee why do you keep meriting this trash? You're just encouraging spammers to mindlessly shit in here. Some of them, like this one, buy old Bitcointalk accounts then come here for your easy merits.

This account nlovric belonged to an extraordinarily intelligent individual, now it belongs to a merit farmer. You keep meriting him, he keeps coming back for more. You're teaching him that spamming pays.

I wonder if merits could simply be turned off for the WO thread. I would rather see 10 ChartBuddy posts in a row than these sad solicitations for charity.

[Stavri]

https://bitcoinnews.com/bitcoin-price-volatility-uk-inflation-problems/

"Inflation in the U.K. remains stubborn, leading to suggestions that the Bank of England will raise interest rates further. Prolonged high rates are expected to cause significant volatility in asset prices, including bitcoin."

Isnt it wrong... Low interest rates drive crazy boom and bust cycles. Lower interest rates are more dangerous for economy and assets including cryptocurrencies.

Both are terrible.

Regardless, the retail banks in the UK are taking no notice of higher interest rates when it comes to offering good products for savers at the moment.
Which means they are in fact nullifying the whole higher interest rate tool by the Bank of England.

Classically from a retail banking pov:
High interest rates: keep your money in the bank, it's a better option, save, spend less.
Low interest rates: Spend everything, there is no return keeping it in the bank.

The top option doesn't work properly if inflation is higher than the interest rate (which it still is in the UK) and it especially doesn't work when retail banking refuses to play ball.

-------

Finally the propaganda media in the UK are accepting that there is at least a problem with house prices.

In my area I've seen 1 house shift in the last year. Usually there would be between 10-20 per year.


Brace for a big old collapse that is going to make 2007-2009 look like a walk in the park.

im considering the country i live (which is about to bankrupt) when i was posting it. . as the president here insist in reducing the interest rates tellin "lower interest rates for mean increased production" but it gets worse and worse. 80% inflation. (its official inflation. meat, milk products etc are already three times more expensive comparing to 1 year ago).

[xhomerx10]

Does anyone in the WO's community have a lucky number of 9 or 19? 

 No but 21 X 10⁶ is one of my faves.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.

My guess is $29,900 will become the new $9,900.

It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again.  

^^^^^^^^^^^

Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024.

Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way.

The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more.

Oh lookie, we still here. Same price range, different day.

Get used to it guyz....

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[HI-TEC99]

...

Brace for a big old collapse that is going to make 2007-2009 look like a walk in the park.

[John Abraham]

Hey Wo Guys! It's time to vote for your favorite Pizza. Make sure you check all three channels to check 113 Submissions.
The Contest Is over! It's Time to update the Pizza gallery.
** The Gallery Format stolen from ChiBitCTy

Thanks, fillippone for sorting out the first column issue.

This is all 113 Submissions in one Gallery. I skipped some Submissions, and the reason is explained in this post. Feel Free to check the detailed explanation. Everyone is Supposed to submit their Submission On the Discord Server. But, Some of us didn't. So, I worked with Cyrus to gather them all On the Discord Server.

Note From Cyrus: Due to smashing our previous 50 pizza record from ⁠pizza-day-event-2022, we hit an arbitrary Discord limit of 50 pins/channel. Thank you to everyone that participated and to theymos, Betnomi, @John Abraham and, of course, Laszlo for buying those pizzas!

Please check All three Channels of the Pizza Day event 2023 and vote.

Channel 1: pizza-day-2023-1 https://discord.com/channels/708770300199698526/1110277685940342844
Channel 2: pizza-day-2023-2 https://discord.com/channels/708770300199698526/1114018625490264164
Channel 3: pizza-day-2023-3 https://discord.com/channels/708770300199698526/1114040578510962788

	1) Patrol69	2) Bd officer	3) tjtonmoy	4)Litzki1990	5) Fiatless
	6) LDL	7) John Abraham	８) ajiz138	9) Bureau	10) abaeze
	11) nara1892	12) Ryu_Ar1	13) Rigon	14) GigaBit	15) Ricardo11
	16) Bitcoin_people	17) Lida93	18) Bitcoin_Support_360	19) khiholangkang	20) Agbe
	21) BRINIRHA	22) Fuso.hp	23) ZAINmalik75	24) mendace	25) Kaliandra
	26) Popkon6	27) Dimitri94	28) Arenga pinnata	29) cozytrade	30) leonair
	31) Spaceman1000$	32) Sim_card	33) DaNNy001	34) Compromise me	35) salad daging
	36) Unknown Op	37) GbitG	38) Frankolala	39) |MINER|	40) bayu7adi
	41) Ale888	42) Gaza13	43) Z_MBFM	44) Gulttam2a2	45) Nothingtodo
	46) bluedeep	47) Muba20	48) nlovric	49) bbigtart	50) Coinpk
	51) Bazzu	52) ndutndut	53) FinePoine0	54) Solokan	55) synchronym
	56) rabizol	57) Buchi-88	58) rojan	59) petulino	60) Dickiy
	61) NicNacCoin	62) coinerer	63) Worsh	64) Crypto Library	65) MK-74
	66) RewFrew	67) Balo765	68) Muskan1	69) Jateng	70) Gladitorcomeback
	71) Chadmama7	72) BobK71	73) Hatchy	74) HONDACD125	75) Rabata
	76) hafiztalha	77) babygun	78) Cheema02	79) Sarah Azhari	80) bangjoe
	81) Filicius	82) pixie85	83) AprilioMP	84) Cuti1	85) BigBos
	86) light_warrior	87) chigo	88) taufik123	89) WaqasSindhu	90) Real-Duke
	91) icopress	92) 2Pizza410000BTC	93) LABSA	94) fillippone	95) babo
	96) Nabilabaji	97) TheSpiral	98) ITExpert	99) development327	100) AnonBitCoiner
	101) MCUKing	102) Amphenomenon	103) coolcoinz	104) Despairo	105) rdluffy
	106) Not your key not your BTC	107) TelolettOm	108) acroman08	109) Inwestour	110) bitLeap
	111) Rengga Jati	112) ThemePen	113) Mame89

[OgNasty]

Stocks are cheering this morning as the debt agreement seemingly was an all clear sign to fire up the printer.  The debt ceiling deal was a bad one and it's back to business as usual.  While stocks have been rallying hard on the news, crypto hasn't joined this party yet.  I imagine at some point the rubber will hit the road and the crypto markets will rally as well on this news, but for now I find it a bit odd that they aren't.  Likely, some fund money is moving from crypto back into stocks as they see the debt deal as an all clear sign to get back to their buffoonery. 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Unknown Op]

~~snip~~

Hello John Abraham,

Bro you have submitted the entry for @Gaza13 incorrectly and its number is 42.

Gaza13 submission entry: https://bitcointalk.org/index.php?topic=5247383.msg62327719#msg62327719

Pizza image

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hamza2424]

It's not a bad topic, and might even be a kind of way to use dee cornz in a game and maybe there might not be any KYC requirements.. and then to get coinz back out (if you don't end up getting rug-pulled along the way.. which sometimes could have to do with how coins are stored and dangers of keeping too many coins with third parties, if you know of various ways to self-custody your coins.. or move them around easily so that you do not become too lazy in terms of keeping too many coins with third-party systems), if you know what I am trying to say.  

Haha Yeah, I got it (WAYTTS) What are you trying to say..

Hmm, the concept is very hyped in today's generation, but as you said for the security concerns there are many practices that developers can follow if they are really committed to the project, or else greed cant be conquered.

The Ordinals concept is hated (in soft words disliked), especially over Bitcoin but this concept has some unique use cases again here comes the priority first if it's affecting the core and diverting the project goals (Bitcoin Goals) then there are many other solutions can be used.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com