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

[cmacwuz]

We also have some devoted religious zealots here!



https://twitter.com/wclementeiii/status/1673380889231867924

A statistic quoted from an outsider like stanley duckenmiller takes nothing into account, like lost BTC or Satoshi's coins (I am assuming).

[1714211848]

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[1714211848]

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[1714211848]

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[philipma1957]

We also have some devoted religious zealots here!



https://twitter.com/wclementeiii/status/1673380889231867924

A statistic quoted from an outsider like stanley duckenmiller takes nothing into account, like lost BTC or Satoshi's coins (I am assuming).

well there are millions of unmoved coins.

In 2017 there were

10.5
  5.25


15.75  2016 1/2ing add 1 million

maybe 16.75 in circulation of which at least 2.75 were 'frozen or lost'

leaves 14 mill free

so 2.345 million sold out of 14 mill = 83% hold

or 2.345 mill sold out of 16.75 = 86% hold


so the 2.75 million 'frozen' out of 16.75 million mine

only moves the number 3%


Truly impressive as it means many did not take profits.

As of Jan 1 2017 ATH was about 1400 and from Jan to Dec about 365 x 144 x 12.5 = 660k coins mined (rounded up)

So 16.75m-0.660m = 16.09 mill coins were at a cost value under 1400 in December 2017 when price was 19900

so 14.2x1 at a minimum for 16 mill coins and only 2.345 million got sold

that is fucking really impressive.

There are many long term players in the world of BTC. Assuming the 86 or adjusted 83% are true numbers.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[eXPHorizon]

Orcas attacking Boats with Migrates from Middle east etc. is a Gods sign. 😊

[MERlT]

Orcas attacking Boats with Migrates from Middle east etc. is a Gods sign. 😊

Let me guess, you're not a big fan of Noah huh?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[eXPHorizon]

Orcas attacking Boats with Migrates from Middle east etc. is a Gods sign. 😊

Let me guess, you're not a big fan of Noah huh?

What does Noah have to do with Malevolent Economic Migrations?

[MERlT]

Orcas attacking Boats with Migrates from Middle east etc. is a Gods sign. 😊

Let me guess, you're not a big fan of Noah huh?

What does Noah have to do with Malevolent Economic Migrations?

42

[eXPHorizon]

Orcas attacking Boats with Migrates from Middle east etc. is a Gods sign. 😊

Let me guess, you're not a big fan of Noah huh?

What does Noah have to do with Malevolent Economic Migrations?

42

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

decent take by Saylor
https://www.cryptopolitan.com/bitcoin-dominance-jumps-above-50-market-cap/

"Michael Saylor, the co-founder of MicroStrategy and a prominent BTC advocate, predicts that the assets market dominance will surpass 80% in the coming years. He believes that regulatory pressures from the Securities and Exchange Commission (SEC) will lead stablecoins and the majority of other cryptocurrencies to fade away. Saylor envisions the industry being rationalized to focus on BTC, alongside a handful of other Proof-of-Work tokens.

Saylor also attributes the absence of significant institutional investment in the crypto space to the “confusion and anxiety” caused by the existence of over 25,000 alternative cryptocurrencies. He emphasizes that BTC is universally recognized as the digital commodity in the industry, pointing out that SEC Chair Gary Gensler has classified it as a commodity while designating 68 other cryptocurrencies as securities. Currently, Bitcoin is trading at $26,746, reflecting a 1.5% increase in the last 24 hours. Despite recent market “fear” reaching its highest point in three months, the value of BTC has grown over 3% in the past week."



Dare I say BTC , LTC , DOGE are the Handful of pow coins he likes. With a strong emphasis on BTC.




Meanwhile the biggest Piece of shit there is mEth is headed down the path of destruction :

https://www.coindesk.com/tech/2023/06/19/ethereum-developers-propose-raising-validator-limit-to-2048-ether-from-32-ether/

"Ethereum Developers Propose Raising Validator Limit to 2,048 Ether From 32 Ether"

[ivomm]

Can someone explain to me why the ETF fanbois think that fourth time's the charm for a Bitcoin ETF? What exactly will the difference be this time?

The question of the benefit of ETFs has been discussed a lot and we can hardly say anything new. But if I have to summarize, the discussion is divided into 2: negative, often overflowing into pure FUD, and positive, often overflowing into unrealistic expectations of matching and even surpassing gold within a few months. To me, the truth is that the benefit of establishing Bitcoin as a stable global financial asset requires spot ETFs. The rise in price will be just the consequence of both FOMO and the scarcity. Let's take just one example, with which I think all of us will agree. People and companies who cannot or do not know how to buy bitcoins, or which exchanges are reliable, will not hesitate to use ETFs. When this ETF is bought for the long term, which is usually done with a spot rather than a futures ETF, the number of real hodlers will increase. The fear that the big companies will have more control over Bitcoin is also understandable, but we can't take at face value the pure FUD that it will kill growth like it did with gold. For enlightened OGs like us, the reasons are clear and need no pointing out.

The other question, for me at least, is more interesting and with an unclear answer. Will this next wave of ETFs be stifled by Gary as it was in the past? Basically, there isn't that much of a difference between the previous ETF offerings and Blackrock's, so its approval is far from certain. Although the ratio I think was 575:1, it doesn't really matter that much, in my opinion. From the point of view of using a regulated exchange, there is no change, so there should be no approval.

But... With good will from Gary, Blackrock can be given a chance as they have filed for some form of surveillance with Nasdaq. The problem is that this is only a proposal, not an actual agreement. It is not clear if Coinbase will agree and they will enter into one. If that happens this year, given other factors like pressure from senators and presidential candidates, I think Gary will bend and give permission. But everything is in the balance. Blackrock definitely rushed with the clear goal of catching the upcoming bull run after the halving. They also have an extremely strong lobby, so according to some analysts, in order to move forward so sharply, they have some kind of prior approval from Gary. But overall, if one has to estimate the chances, I think the chances of approval are no higher than 40%. However, if a surveillance agreement is announced meanwhile, that probability will become at least 80%. Hence all this buzz and the corresponding wave of ETF offerings, as well as the significant drop in GBTC's negative premium.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

decent take by Saylor
https://www.cryptopolitan.com/bitcoin-dominance-jumps-above-50-market-cap/

"Michael Saylor, the co-founder of MicroStrategy and a prominent BTC advocate, predicts that the assets market dominance will surpass 80% in the coming years. He believes that regulatory pressures from the Securities and Exchange Commission (SEC) will lead stablecoins and the majority of other cryptocurrencies to fade away. Saylor envisions the industry being rationalized to focus on BTC, alongside a handful of other Proof-of-Work tokens.

Saylor also attributes the absence of significant institutional investment in the crypto space to the “confusion and anxiety” caused by the existence of over 25,000 alternative cryptocurrencies. He emphasizes that BTC is universally recognized as the digital commodity in the industry, pointing out that SEC Chair Gary Gensler has classified it as a commodity while designating 68 other cryptocurrencies as securities. Currently, Bitcoin is trading at $26,746, reflecting a 1.5% increase in the last 24 hours. Despite recent market “fear” reaching its highest point in three months, the value of BTC has grown over 3% in the past week."


Dare I say BTC , LTC , DOGE are the Handful of pow coins he likes. With a strong emphasis on BTC.

Yeah. I think POW-shitcoins will gain due to speculative "crypto" money searching for a new home.  Bcash just doubled since the Blackrock announcement.


And really?  Saylor "likes" the two shitcoins you mentioned?  Where did you get that info from?  And why not Bcash...? why does he seemingly coincidentally "like" the shitcoins you hold?

... sounds a bit like wishful thinking from a shitcoin fan... just saying... (as JJG would say)  

Meanwhile the biggest Piece of shit there is mEth is headed down the path of destruction :

https://www.coindesk.com/tech/2023/06/19/ethereum-developers-propose-raising-validator-limit-to-2048-ether-from-32-ether/

"Ethereum Developers Propose Raising Validator Limit to 2,048 Ether From 32 Ether"

No doubt... that's def. the biggest!
Seems that before they crash, the big holders, aka the mETH elite try to squeeze as much as they can out of their junkie community...

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com