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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[LFC_Bitcoin]

Observing $29,699…..nice!

Surely it’s time we hit another yearly high soon. You would expect seller exhaustion to show shortly. I feel like a bear slaying god candle will be arriving before we end the year. The halving is not too far away, Bitcoin Spot ETF’s will hopefully be a reality before the halving also.

Just send it please

[philipma1957]

Observing $29,699…..nice!

Surely it’s time we hit another yearly high soon. You would expect seller exhaustion to show shortly. I feel like a bear slaying god candle will be arriving before we end the year. The halving is not too far away, Bitcoin Spot ETF’s will hopefully be a reality before the halving also.

Just send it please

we are now at 29.7k so lets do

$33,333.33 and a -1% diff adjustment for tomorrow am.

https://www.bitrawr.com/difficulty-estimator

Latest Block:   802248  (11 minutes ago)


Current Pace:   99.9944%  (1897 / 1897.11 expected, 0.11 behind)

Previous Difficulty:   53911173001054.59                           
Current Difficulty:   52328312063443.84                           
Next Difficulty:   between 52333596329552 and 52333614807655
Next Difficulty Change:   between +0.0101% and +0.0101%
Previous Retarget:   July 26, 2023 at 8:39 AM  (-2.9361%)
Next Retarget (earliest):   Tomorrow at 8:40 AM  (in 0d 19h 50m 3s)
Next Retarget (latest):   Tomorrow at 8:40 AM  (in 0d 19h 50m 3s)
Projected Epoch Length:   between 14d 0h 1m 7s and 14d 0h 1m 7s
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[Out of mind]

Observing $29,699…..nice!

Surely it’s time we hit another yearly high soon. You would expect seller exhaustion to show shortly. I feel like a bear slaying god candle will be arriving before we end the year. The halving is not too far away, Bitcoin Spot ETF’s will hopefully be a reality before the halving also.

Just send it please

Green candle $29836... Wonderful  

BTC$30k We can go soon..!

[FinePoine0]

Observing $29,699…..nice!

Surely it’s time we hit another yearly high soon. You would expect seller exhaustion to show shortly. I feel like a bear slaying god candle will be arriving before we end the year. The halving is not too far away, Bitcoin Spot ETF’s will hopefully be a reality before the halving also.

Just send it please

Added the green candle helicopter. Now fly to higher levels and wait till 35k.
 Soon we see the volatility of the sellers which is only the market is now frozen by the buyers.
 The days of bear killing are over now the bull market is waiting.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

https://finbold.com/bitcoin-population-surges-with-record-numbers-of-holders-of-1-btc/
"The number of addresses holding at least one Bitcoin (BTC) has reached a new all-time high of 1,013,414"

I think after the next bull run only institutional investors will be able to hold a full Bitcoin. The price will be out of reach for most of the retail investors.

It is already getting quite difficult for newbie normies to hold a whole bitcoin, and there is likely a need for a bit of persistence for many newbie normies to get their investment portfolio to such a place in which they are able to feel comfortable holding a whole bitcoin.

If you have an investment portfolio that has $100k, then surely devoting nearly 1/3 towards bitcoin holding seems a bit much for a newbie normie.. so maybe those who have investment portfolios that are more than $300k might feel comfortable to allocate 10% towards bitcoin, and even since about mid-to-late-2020, I have been proclaiming that anywhere between 1% and 25% allocation into bitcoin is an o.k. amount of an allocation, and even a person who might have an investment portfolio that is around $300k, it could take him/her a bit of time to get their 1% to 25% allocation into bitcoin, and I frequently proclaim that many folks do not like to engage in sales of any of their assets in order to allocate towards something new like bitcoin, so maybe some folks with $300k-ish investment portfolios might have some spare change floating around, but it seems that the more likely path would be to just to start to dedicate extra cashflows into bitcoin, and even if they might be able to purchase a bit more than $2k per month into bitcoin, it still might not get them to 1 bitcoin in a year and a half.. that is if BTC prices stay somewhere in the ballpark where they currently are for the next year or year and a half, which surely does not seem to be too likely.

I think after the next bull run only institutional investors will be able to hold a full Bitcoin. The price will be out of reach for most of the retail investors.

Do you think everyone will sell to institutional investors? I don't agree that it will be like that, because plan B is to not sell BTC even when they offer us some crazy amounts for it.

That does not make any sense.  Why would you hold your BTC merely for the sake of it and pray that your holding it is in your interest because it causes the price to go up...

Sure, I get that in accordance with Gresham's law, it is not problematic to be selling your less valuable forms of cash/assets first (prior to your selling your bitcoin).. but that still ONLY justifies hanging onto your bitcoin until you run out of other kinds of cash/assets to spend because it does not do any good to suffer without food and lodging, or alternatively without hookers, lambos and blow, merely because you are trying to defer gratification for the mere sake of it and in the mean time you overly suffer in the process.

Besides, if you can use BTC to pay for services and goods, the question arises, why sell?

Newsbreak: (or would it be Protip?):.. using bitcoin to buy goods/services has the same effect as if you were selling your BTC... #just so you know some of dee basic idears

$35k in 5 days confirmed

Couldn’t sent 35 to support
Was at 25 max already
 

I gave him the other 25 you are covered.

So $50k confirmed?

yep but by my  birthday Jan 2024 and close to 65-75 by the ½ ing

Doesn't sound overly unreasonable, even though new ATHs have not tended to come until after the halvenings - but at the same time, king daddy is not restricted to having to exactly follow any kind of historical pattern.... just because...

I am not really sure what to say.. except maybe to lean on the historical pattern to be more likely than to have an earlier breach to the upside of the ATH.. yet for sure, there is pretty strong persuasiveness to the ideas that the BTC price has been largely and overly suppressed, including but not limited to a lower than expected top in late 2021 and also a lower than expected bottom in 2022, including spending a decent amount of time significantly below the 200-week moving average for nearly 8 months.. so several of those factors could justify that the ATH is reached earlier than the fractal patterns of the earlier cycles.

Observing $29,699…..nice!

Surely it’s time we hit another yearly high soon. You would expect seller exhaustion to show shortly. I feel like a bear slaying god candle will be arriving before we end the year. The halving is not too far away, Bitcoin Spot ETF’s will hopefully be a reality before the halving also.

Just send it please

we are now at 29.7k so lets do

$33,333.33 and .......

Whatever happened to $10k daily candles?  Maybe we are due for a $20k daily candle.?   And if it is not exactly daily, within a reasonable amount of time.

Maybe we have to get back up above $40k before $10k daily candles start to seem reasonable/feasible.. and maybe we have to get close or into new ATH territories before $20k daily-ish candles start to become "a thing."

[OROBTC]

...

I recently asked ChatGPT if the bot assigned any value to Technical Analysis in helping to predict future BTC prices.  Briefly, the bot responded yes.  But, I would place relatively little value in that bot's analysis of TA (I have relatively little faith in TA as a price prediction tool).

Of interest to some perhaps is a new bot I ran into today: ChatBTC (not ChatGPT).  This is a new AI effort focused on BTC.

https://chat.bitcoinsearch.xyz/

I just asked the below question:

Will the 12 BIP-39 words provide enough security in Bitcoin wallets for the next 10 years?

Bot response:

Holocat
Based on the provided context, it is clear that BIP-39 words are used for backup and restoration purposes in Bitcoin wallets. These words, typically consisting of 12, 18, or 24 words, can be used to easily backup, restore, or port private keys in multiple languages. However, the question specifically asks if 12 BIP-39 words will provide enough security in Bitcoin wallets for the next 10 years.

While the context does not directly answer this question, it does provide information about the use of BIP-39 words in Bitcoin wallets. BIP-39 words serve as a seed phrase that can be used to derive private keys. The security of BIP-39 words lies in the entropy they provide. With more words, the entropy increases, making it harder for an attacker to guess or brute-force the seed phrase.

Having said that, it is important to note that the security of a Bitcoin wallet depends on various factors, including the strength of the BIP-39 words, the protection of the seed phrase, and the robustness of the underlying wallet software. While 12 BIP-39 words can provide a certain level of security, it may not be sufficient for the next 10 years if there are advancements in attacks or if the seed phrase is compromised.

To enhance the security of your Bitcoin wallet, it is recommended to follow best practices such as using a hardware wallet, keeping the seed phrase offline and securely stored, and regularly updating the wallet software. Additionally, diversifying your storage by using multiple hardware wallets from different vendors can help mitigate the risk of vendor-specific vulnerabilities or server downtimes.

In conclusion, while 12 BIP-39 words can offer a certain level of security, it is always advisable to stay updated with the latest security practices and consider additional measures to protect your Bitcoin wallet.

Sources

• : https://bitcoin.stackexchange.com/questions/58094#58121
[1]:

https://bitcoin.stackexchange.com/questions/105825#105827
[2]: https://bitcoin.stackexchange.com/questions/88115#88125
[3]: https://bitcoin.stackexchange.com/questions/68546#71647
[4]: https://bitcoin.stackexchange.com/questions/54979#54981
[5]: https://btctranscripts.com/stephan-livera-podcast/2021-07-17-andrew-chow


(I copied & pasted above response, the Forum changed some formatting a bit)

I am not nearly an expert in AI, but the bots seem to provide at least some value for now.  ChatBTC may be worth keeping an eye on.

[JayJuanGee]

Green candle $29836... Wonderful  

BTC$30k We can go soon..!

Holy fucking shit!!!!

Can you at least get your facts correct when you make memes or steal them or however you are getting them?

Last time I checked the yearly high was $31,818.

Observing $29,699…..nice!

Surely it’s time we hit another yearly high soon. You would expect seller exhaustion to show shortly. I feel like a bear slaying god candle will be arriving before we end the year. The halving is not too far away, Bitcoin Spot ETF’s will hopefully be a reality before the halving also.

Just send it please

Added the green candle helicopter. Now fly to higher levels and wait till 35k.
 Soon we see the volatility of the sellers which is only the market is now frozen by the buyers.
 The days of bear killing are over now the bull market is waiting.

You are prematurely ejaculating your excitement.  What else is new from the merit/begging lack of substance troll spamming twats?

[Paashaas]

Imagine this FAKE pump DUMPED straight in your flabbergasted face.

[Out of mind]

According to "contacts" from inside BlackRock and Invesco spot Bitcoin ETF approval a matter of "when, not if" likely in "four to six months - Galaxy CEO Mike Novogratz on earnings call this morning.
_Source

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Who is John Galt?]

$35k in 5 days confirmed

Couldn’t sent 35 to support
Was at 25 max already

 

I gave him the other 25 you are covered.

So $50k confirmed?

Absolutely! Just not in five days, but a little later ...

[BitcoinBunny]

Get that dildo over 30K. Come on.

[Hueristic]

...

I recently asked ChatGPT if the bot assigned any value to Technical Analysis in helping to predict future BTC prices.  Briefly, the bot responded yes.  But, I would place relatively little value in that bot's analysis of TA (I have relatively little faith in TA as a price prediction tool).

Of interest to some perhaps is a new bot I ran into today: ChatBTC (not ChatGPT).  This is a new AI effort focused on BTC.

https://chat.bitcoinsearch.xyz/

I just asked the below question:

Will the 12 BIP-39 words provide enough security in Bitcoin wallets for the next 10 years?

Bot response:

Holocat
Based on the provided context, it is clear that BIP-39 words are used for backup and restoration purposes in Bitcoin wallets. These words, typically consisting of 12, 18, or 24 words, can be used to easily backup, restore, or port private keys in multiple languages. However, the question specifically asks if 12 BIP-39 words will provide enough security in Bitcoin wallets for the next 10 years.

While the context does not directly answer this question, it does provide information about the use of BIP-39 words in Bitcoin wallets. BIP-39 words serve as a seed phrase that can be used to derive private keys. The security of BIP-39 words lies in the entropy they provide. With more words, the entropy increases, making it harder for an attacker to guess or brute-force the seed phrase.

Having said that, it is important to note that the security of a Bitcoin wallet depends on various factors, including the strength of the BIP-39 words, the protection of the seed phrase, and the robustness of the underlying wallet software. While 12 BIP-39 words can provide a certain level of security, it may not be sufficient for the next 10 years if there are advancements in attacks or if the seed phrase is compromised.

To enhance the security of your Bitcoin wallet, it is recommended to follow best practices such as using a hardware wallet, keeping the seed phrase offline and securely stored, and regularly updating the wallet software. Additionally, diversifying your storage by using multiple hardware wallets from different vendors can help mitigate the risk of vendor-specific vulnerabilities or server downtimes.

In conclusion, while 12 BIP-39 words can offer a certain level of security, it is always advisable to stay updated with the latest security practices and consider additional measures to protect your Bitcoin wallet.

Sources

• : https://bitcoin.stackexchange.com/questions/58094#58121
[1]:

https://bitcoin.stackexchange.com/questions/105825#105827
[2]: https://bitcoin.stackexchange.com/questions/88115#88125
[3]: https://bitcoin.stackexchange.com/questions/68546#71647
[4]: https://bitcoin.stackexchange.com/questions/54979#54981
[5]: https://btctranscripts.com/stephan-livera-podcast/2021-07-17-andrew-chow


(I copied & pasted above response, the Forum changed some formatting a bit)

I am not nearly an expert in AI, but the bots seem to provide at least some value for now.  ChatBTC may be worth keeping an eye on.

Andreas put out a relevant vid on this yesterday.

https://odysee.com/@aantonop:8/how-chris-lost-his-bitcoin-how-you-can:8

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

According to "contacts" from inside BlackRock and Invesco spot Bitcoin ETF approval a matter of "when, not if" likely in "four to six months - Galaxy CEO Mike Novogratz on earnings call this morning.
_Source

My thoughts are that the SEC will play the same BS game with the Spot ETFs that they played with the first round of derivative ETFs:

The first or two spot ETFs will get shot down for some BS reason. Complete head fake in the price, as per usual.  

Then the first of the spot ETFs will get approved in December of this year, and/or as we round the corner into the first of next year.

All of them will get approval before the halving (Gee, what a shocker.   )

Bitcoin price will start to take off pre-halving.

The derivatives market may flash crash in 2024. Some completely bullshit, "The-sky-is-falling-and-Bitcoin-is-the-hedge-play" narrative will get spun up in the MSM to support all this. As per usual.  

[Biodom]

According to "contacts" from inside BlackRock and Invesco spot Bitcoin ETF approval a matter of "when, not if" likely in "four to six months - Galaxy CEO Mike Novogratz on earnings call this morning.
_Source

My thoughts are that the SEC will play the same BS game with the Spot ETFs that they played with the first round of derivative ETFs:

The first or two spot ETFs will get shot down for some BS reason. Complete head fake in the price, as per usual.  

Then the first of the spot ETFs will get approved in December of this year, and/or as we round the corner into the first of next year.

All of them will get approval before the halving (Gee, what a shocker.   )

Bitcoin price will start to take off pre-halving.

The derivatives market may flash crash in 2024. Some completely bullshit, "The-sky-is-falling-and-Bitcoin-is-the-hedge-play" narrative will get spun up in the MSM to support all this. As per usual.  

Quite plausible scenario(s).
The future is blurry, but we all can see possibilities like that or similar.
We need relative peace, though.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[LFC_Bitcoin]

Like clockwork…….



@scottmelker
It could all be this simple.

The four year cycle has remained perfectly intact. You could have gone into a coma for the past 2 years and ignored macro, inflation, the Fed, Evergrande, the fat guy from BIS… woken up, checked this chart and gone back to bed.

From @StockmoneyL
[/url]
https://twitter.com/scottmelker/status/1688871919418802177