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

[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

[Hueristic]

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.

[vapourminer]

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

ive also got nothing to say i just like playing with the width command

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitcoinPsycho]

New poll 

[aesma]

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?

Isn't it a bit of a chicken and egg situation ?

[infofront]

Hello friends!

Old poll results:

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Out of mind]

Hello friends!

Old poll results:

Hi Buddy..!!
Seeing this, we can say for sure that the BULL market will start in 2024.,,, 🐂BTC
(HoDLBTC)

[cygan]

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Out of mind]

Another interesting BTCBTC  mining metric is the cost value of each TH/s installed by each BTCBTC  a miner as a proportion of the Enterprise Value less BTC hodl.
are should be taken as some of the BTC  miners have additional revenue streams, some of which are highlighted below.

Source

[Richy_T]

Yes, you could buy Teslas with Bitcoin for about 3 days. Musk pussed out though.

[Gachapin]

Interesting

.... 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.

No big players being left, would mean that all most large players need to get in heavily during 1-2 years or so.  I don't see that happening, even if an ETF gets approved.  And after Wall Street the next round would be countries building BTC reserves... apart from El Salvadore I don't see many moving into that direction either.
So I think after the next cycle peak there will still be enough big players that have't gotten in yet.
Of course there could be other reasons for demand drying up, but probably not the case that all big players are already in.
  
(Btw we haven't even taken into account that BTC can function as a blackhole sucking money out of almost any other investment there is in the world (gold, overvalued real estate and stock market, etc))


Actually, "taking a little off the table whenever we do peak" is great advise but isn't it difficult for you to identify when it happens before your eyes? If not please do me favor and let us know, when you see the cycle peak. Thanks

[Bitcoin_people]

Wow Amazing..
Good news..
People will spend bitcoins to buy it.
 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AlcoHoDL]

Pointless post, I know, but...

Sick & tired of $29xxx - $31xxx. Come on, Bitcoin, do something, blah blah blah...

Seeing $4xxxx in the summer/autumn will be something. I won't dare dream of ATH this year. Don't mind it coming in 2024 (as it will).

Life is good, but can always be better.

The 2024+ cycle will be major, even life-changing, for many of us. HoDL strong WOers, we're getting there!

[Gachapin]

Pointless post, I know, but...

Sick & tired of $29xxx - $31xxx. Come on, Bitcoin, do something, blah blah blah...

Seeing $4xxxx in the summer/autumn will be something. I won't dare dream of ATH this year. Don't mind it coming in 2024 (as it will).

Life is good, but can always be better.

The 2024+ cycle will be major, even life-changing, for many of us. HoDL strong WOers, we're getting there!

when compared to the previous cycle, it could well be that we stay in range for another year... but I mean a broader range like 20k-40k.

[Hueristic]

Hello friends!

Old poll results:

Shit, I forgot what I voted in the last one!

Upside for sure on this one.

*Pretty sure it was 2023