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

[cafter]

Click To Play

[Out of mind]

Kuwait BANS all crypto operations in the country.


Source
https://cointelegraph.com/news/crypto-kuwait-bans-crypto-and-virtual-assets-transactions

[FinePoine0]

BREAKING: MIT researchers acknowledge the grid balancing, methane mitigating benefits of #Bitcoin    mining in new paper.

Details

for people who want to avoid twitter, this is the source: https://ceepr.mit.edu/wp-content/uploads/2023/06/MIT-CEEPR-WP-2023-11.pdf

What is TLDR? thanks in advance.

PDF file I already checked...buddy
Thank you...

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

BREAKING: MIT researchers acknowledge the grid balancing, methane mitigating benefits of #Bitcoin    mining in new paper.

Details

for people who want to avoid twitter, this is the source: https://ceepr.mit.edu/wp-content/uploads/2023/06/MIT-CEEPR-WP-2023-11.pdf

What is TLDR? thanks in advance.

PDF file I already checked...buddy
Thank you...

 TLDR... PDF... Do you two understand one another?  Asking for a friend.

[hisslyness]

BREAKING: MIT researchers acknowledge the grid balancing, methane mitigating benefits of #Bitcoin    mining in new paper.

Details

for people who want to avoid twitter, this is the source: https://ceepr.mit.edu/wp-content/uploads/2023/06/MIT-CEEPR-WP-2023-11.pdf

What is TLDR? thanks in advance.

PDF file I already checked...buddy
Thank you...

 TLDR... PDF... Do you two understand one another?  Asking for a friend.

I can just picture this!

[xhomerx10]

Click To Play

 I didn't think it possible to convert a 29 second video into an animated GIF that could be posted on bitcointalk within the 2.5 meg limit and yet here it is cropped, shrunk, optimized and somehow still viewable.

[cafter]

snip]

can you explain? how you did it?

[xhomerx10]

snip]

can you explain? how you did it?

 ezgif.com
 
Free to use, no sign up required.
I use Brave shields and ublock origin to keep the ads and trackers at bay with no obvious impairment (other than not seeing ads).

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

Back above $30,000 but still ranging between $29,500 and $31,800. It’s getting a bit boring but we’ll have a significant breakout within the next month or so. My bet would be to the upside.

Nothing else to say really, apart from buy any significant dip.

We’re in the first weeks of a new bull market, nothing exciting until 2024 unfortunately. Time to kick back and enjoy the rest of the summer.

We are surely towards the top of our current range.. and maybe we can think about our current range a bit more broadly.. in terms of the 200-week moving average is currently at $26,953, so I am not sure if we can even use $27k-ish as the bottom of our current range.. but maybe down to our last correction that was around $25,200-ish.. so then if we might consider our current range as $25,000 to $32k, then we like to see if we might break out to the upside or to the downside.. but I am getting a kind of feeling of don't wake me up merely because we might go down a bit and if we are largely still at the top of the range...

 and probably also don't wake me up if we get a mere whimpy break-out that does not get us above $35k-ish.... so maybe we could still consider the don't wake me up range as $25k to $35k.. hahahahahaha.. even though surely getting below the 200-week moving average for any significant amount of time (more than a week or two) would not be very comforting for quite a few of us longer term bitcoin stackers.. not that many of us are overly worried about ONLY being 25x in profits rather than being 30x in profits since it may well not seem that great of a difference in the whole scheme of things.... and surely many of us would be continuing to stack cornz in them there price zones that are approaching the 200-week moving average and breaching such 200-week moving average to the downside, if they were to play out.

By the way, the 100-week moving average is currently at $32,714, and I am not sure what significance there might be to get above that number and to stay above that.  The 100-week moving average was largely sloping upward from about mid-2020 until is November 2022 peak of around $38,100, so it has been sloping downward since November 2022, and likely we would have to get above it and to stay above it before it would start to slope back upward.. at least that seems logical in a mathematical (and sciences) sense.

Surely, for about the last month or two, I have been becoming more inclined to consider that the $15,479 bottom from November 2022 is in, and that might not be enough to say that the bear market is over, but if we get above the 100-week moving average and we are able to stay above the 100-week moving average for a long enough time that its curve starts to resume towards trajectoring UPpity, then perhaps that could indicate that we are "actually" in a bull market?  Perhaps? Perhaps?

[bitcoinPsycho]

Interesting

[OgNasty]

Interesting

This has been a pretty predictable pattern for quite some time now. Given how human beings naturally seek out patterns, I think it is likely that no matter what happens in the markets, traders will fulfill this fractal prophecy with their own expectations and actions. I’m not sure if after this cycle there will be any larger players left to continue it after Wall Street, so I would recommend taking a little off the table whenever we do peak, likely around Q3 of 2025.

[_Hiloveua_]

I can just picture this!

Very interesting.

Not me, You

[FinePoine0]

Bitcoin update news

The Potential of #Bitcoin    is as follows:

1. Global wealth is aprox. $900 trillion.

2. 15% of Bitcoins are lost.

3. If #BTC    captures 1% of global wealth, the value of one #Bitcoin    would be +$500k.

#BTC    is global, owned property, and vital for growth. 🧡🌍

Source

If 15% of Bitcoins are lost, we are left with 85% of 21 million Bitcoins, since the maximum possible number of Bitcoins is 21 million.85% of 21 million = 17.85 million Bitcoins.

Finally, we divide the total captured wealth by the number of available Bitcoins to get the value of one Bitcoin. $9 trillion / 17.85 million Bitcoins = $504,205.

So, if Bitcoin captures 1% of global wealth and 15% of Bitcoins are lost, the value of one Bitcoin would be approximately $504,205.

then imagine 5%?, 10%? 20%? 50%?

It is inevitable...

Buy #Bitcoin    as if your life depended on it.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[hafiztalha]

https://watcher.guru/news/federal-reserve-launches-fednow-instant-payment-system

"The US Federal Reserve has launched its FedNow instant payment system allowing 35 banks and credit unions to instantly transfer money for customers at any time of the day. The service aims to make everyday payments faster and more convenient benefiting financial and business sectors. The Fed plans to promote widespread availability and has been developing the technology sparking speculation about its implications for a CBDC"

[JayJuanGee]

Interesting

This has been a pretty predictable pattern for quite some time now. Given how human beings naturally seek out patterns, I think it is likely that no matter what happens in the markets, traders will fulfill this fractal prophecy with their own expectations and actions. I’m not sure if after this cycle there will be any larger players left to continue it after Wall Street, so I would recommend taking a little off the table whenever we do peak, likely around Q3 of 2025.

Of course, there is likely going to be a decently sized drawback, just like happens with all of the blow-off tops that we have had so far, even if sometimes the blow off tops do not seem to be as large as previous blow off tops, and sometimes we might consider that a blow off top has taken place, and it is not over yet.. So how are you going to know when the blow off top has actually occurred?  

And to give you some benefit of the doubt, maybe you are not suggesting to know exactly when or where the blow off top is going to occur, and maybe I am not completely opposed to your overall suggestion, especially since you are suggesting to take "a little" off of the table, rather than some kind of a less responsible suggestion that involves playing with large amounts of your BTC stash over these kinds of BTC price dynamic uncertainties.

Regarding the BIGGER players coming into the space, I think that there are still a lot of BIG players that are going to be able to come into the space, and I am wondering how much that someone like Blackrock and anyone following them are really going to be putting into bitcoin... if you can believe anything that those already known bad actors say.

There are a lot of BIG actors that are likely hesitating to come into bitcoin, including governments, and can you really imagine that some of the bigger wallstreet players to really be coming into bitcoin, because if they did come into bitcoin with anything higher than a 10% allocation, there is no way that they would not end up moving the BTC prices to the upside in very substantial ways.  With our BTC price movements so far, we hardly see any kind of meaningful entrances into BTC, and I am not going to agree to witnessing any meaningful wallstreet entrances into BTC (in spite of what they are saying) unless we end up seeing BTC prices in the $1million territory.. perhaps in this cycle?  

Otherwise if we are not seeing BTC prices in the $1 million territory, they are not likely meaningfully getting into dee cornz.. in spite of their "talking it up."  And, by the way, $1million is LESS THAN a 15x price appreciation from our already existing ATH... so does not seem to be much if any kind of meaningful stretch of the imagination to consider that bitcoin should fairly easily be able to reach $1million territory in this cycle.. but I still would not give it high odds of happening, even though they are not small odds either.. maybe in the ballpark of 10%-ish to see BTC price in and around (perhaps not breaching) $1 million in this cycle.. so within the next 3 years or so?

[Learn Bitcoin]

Bitcoin update news in the last 24 hours

1. Grayscale Bitcoin Trust among ARK’s top ETF performers in Q2 2023.
GBTC’s share in total ARKW’s holdings accounted for around 7.5%, roughly the same amount as Tesla, in Q2 2023, while Coinbase was the biggest allocated asset, accounting for nearly 9%.

https://cointelegraph.com/news/bitcoin-cathie-wood-ark-invest-grayscale-bitcoin-trust-among-top-performers-in-q2-2023

2. Bitcoin traders say ‘get ready’ as BTC price preps 2023 bull market
BTC price action is giving two traders no doubt about the Bitcoin bull market due to begin this year.

https://cointelegraph.com/news/bitcoin-traders-get-ready-btc-price-preps-2023-bull-market

3. Tesla’s diamond hands: EV maker's Bitcoin holdings see no change in Q2
After purchasing $1.5 billion worth of Bitcoin in 2021, Tesla sold 75% of it in 2022 and is now hanging onto its remaining $184 million Bitcoin stash.

https://cointelegraph.com/news/tesla-bitcoin-holdings-no-change-in-second-quarter

4. Bitcoin miners hedging with recent sell-offs: Bitfinex report
All-time high hash rates and mining difficulty indicate that miners are bullish on Bitcoin, while recent sell-offs could be a means to hedge positions.

https://cointelegraph.com/news/bitcoin-miners-selling-btc-as-hedge-bitfinex