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

[OgNasty]

Explanation
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How many more charts until we break $40K? Looking like it may only be one or two more… The market is knocking on the door of $40K and there’s only a matter of time before resistance breaks and we’re dancing on a 4. If this entire next 18 months is this much fun, I don’t know what I’ll do with myself. Let’s go $40,000!

DONE!

Wen $41k? 

I imagine there will be some selling at $40K since it’s a nice big round number, so we may see a pause here before moving forward. However, I see no reason why the pace of this rally would slow once the initial shock of hitting $40K has passed. I wouldn’t be surprised if after a pause of a few days we saw it resume it’s $1,000 per week climb to end the year around $43-$44K.

[1714253199]

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[1714253199]

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[1714253199]

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[ChartBuddy]

Explanation
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[philipma1957]

my thread is so close
Bitcoin wants to comply with
my fortytwo k guess





read number below

https://bitcointalk.org/index.php?topic=5472517.0

if I am right 48k is going to come late this month.

sold 0.01 btc for 400.20 after fees

[JimboToronto]

Cool. Have Sunday dinner and watch some NFL and miss the much-awaited passing of $40k.

Another game in about half an hour. $41k after the game?

[ChartBuddy]

Explanation
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[philipma1957]

Cool. Have Sunday dinner and watch some NFL and miss the much-awaited passing of $40k.

Another game in about half an hour. $41k after the game?

no 42k big candle

btw you like kc or gb

I am stuck with my Jets

they lost again

[ChartBuddy]

Explanation
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[BTC_pokaop]

Looks like BTC is going to see $41000 today. 2023 peak price has come up. I think we'll see $45k+ by 2023.
What do you think guys?

[philipma1957]

Looks like BTC is going to see $41000 today. 2023 peak price has come up. I think we'll see $45k+ by 2023.
What do you think guys?

my 2 predictions were dec 1 42k       and on dec 3 we are over 40.5k

and                         Jan 1   48k      so if we do 46.5k on Jan 3 I will be happy

[ChartBuddy]

Explanation
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[danadc]

Well, apparently things for this December are looking very good, and that is something sensational, I think things are starting to look very good, my goal is for Bitcoin to reach $50k, even the enemies of Bitcoin themselves are recognizing it :

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Gold reaching record highs is more significant than Bitcoin’s performance, says Peter Schiff, emphasizing the precious metal’s recent rally and contrasting it with the cryptocurrency’s challenges.

What Happened: Renowned economist and cryptocurrency critic Peter Schiff pointed out on X, formerly Twitter, that gold trading above $2,100 for the first time ever is far more noteworthy than Bitcoin trading above $40K. He highlighted that gold has entered uncharted territory while Bitcoin still needs to rally over 60% to reach a new high. Schiff stated, “Gold has completely broken out.”

Schiff noted that gold was in a “fast market” in the same thread.

In another tweet, Schiff also opines, “If gold is this strong with the U.S. dollar flat, imagine how much more it will rise if the dollar starts to fall. The fact that the dollar is not rising with increased geopolitical tension doesn’t bode well for the dollar and is very bullish for gold.”

Why It Matters: At the time of publishing, Bitcoin traded at $40,653.72, having risen nearly 2.9% over a period of 24 hours. The apex cryptocurrency has gained 8.3% over the week and shot up 145.34% since the year began.

Gold prices hit all-time highs on Friday after confidence among traders rose that the Federal Reserve is done with interest rate hikes following comments by Chair Jerome Powell, according to a Reuters report.

Gold COMEX February 2024 futures were seen up 1.1% at $2,113, while spot gold was trading higher by 0.8% at $2,087.79 at the time of publishing.

Source: https://www.benzinga.com/markets/cryptocurrency/23/12/36062517/peter-schiff-unimpressed-by-bitcoins-40k-move-says-gold-has-completely-broken-out?utm_campaign=partner_feed&utm_source=cryptopanic.com&utm_medium=partner_feed&utm_content=site

and at Coindesk things don't take long to wait:

The move comes days after gold futures reached a record high $2,087 after Federal Reserve chairman Jerome Powell said interest rates are now well into restrictive territory.

"The market is increasingly expecting a rate cut in the coming year and investors are increasingly bullish on the outlook of Bitcoin ETF applications by some of the biggest names in asset management," wrote Lucy Hu, Senior Analyst, Metalpha, in a note. "This is an official statement of a bull run and the price could see more upticks in the coming weeks."

Powell’s comments played into the narrative that the tightening cycle has peaked, pushing bond yields lower.

“Crypto, on the other hand, has been moving nicely higher, along with Gold, on the back of lower yields,” crypto data provider Amberdata said in a newsletter Sunday.

Original Source: https://www.coindesk.com/markets/2023/12/03/bitcoin-breaks-40k-for-first-time-in-18-months-amid-broader-crypto-market-rise/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

I say that this year bitcoin can reach $50k, we are doing well, very well.

[JayJuanGee]

Well, apparently things for this December are looking very good, and that is something sensational, I think things are starting to look very good, my goal is for Bitcoin to reach $50k, even the enemies of Bitcoin themselves are recognizing it :

It is funny, and even a bit ironic how selective someone like Peter Schiff is when it comes to his assessment of bitcoin as compared with Gold and as compared with the dollar, and sure, technically, Peter is correct that BTC still needs to go up right around 60% more from here just to get back to its ATH prices.

Nonetheless, there's no way that he should be considering gold to be a better investment than bitcoin, and there are so many ways that any of could measure bitcoin's performance compared with gold's performance in order to both show bitcoin as superior to gold but also superior in terms of moneyness. 

Ok.  likely we can admit that there are a lot of people who don't really know what bitcoin is, even though Peter really should know by now what bitcoin is, yet there is still likely going to persist a certain amount of variance in regards to how many hours should it take for anyone to become knowledgable enough to recognize and appreciate that bitcoin is better than gold, and maybe we can have sympathies because even people who have been in bitcoin for a very long time, realize that bitcoin is better than gold, but it took them a whole fucking lot of time to figure that out, but there are probably not too many people who actually realize that bitcoin is somewhere between 100x to 10,000x better than gold.. I am actually in the 1,000x camp, but I had heard that there is some recent Fidelity assessment that bitcoin is 10,000x better than gold.. but I don't have a reference link for that because I cannot remember where I saw it.. .. but that is a new and emerging view that is taking the assessment further than 1,000x better into the 10,000x realm.

[philipma1957]

@ jjg

btc is about 20x gold price now

I think btc got over 34x gold price in 2021

so we can think 68k will be here soon. 🔜

[JayJuanGee]

@ jjg

btc is about 20x gold price now

I think btc got over 34x gold price in 2021

so we can think 68k will be here soon. 🔜

You should know better than that.

I am sorry that I did not mention market cap, so we are not talking about meaningless concepts that relate to unit price.. that makes hardly any fucking sense.

Let's take for example that at various points in 2021 bitcoin had more than a $1 trillion market cap, which would be right around the $55k price point, and at that time, gold had about a $10trillion market cap, so at that point, we could have had made the assertion that bitcoin was about 1/10th the price of gold (in terms of market cap).

Right now the numbers have shifted a bit, and gold has a market cap of nearly $14 trillion, and bitcoin's market cap is nearly $800 Billion.. so just to get back to 1/10th of gold's market cap, then bitcoin would need to get to right around $72k - which would be around a $1.4 trillion market cap for bitcoin... and yeah, gold's price and/or market cap is likely to change too.. but surely $72k for bitcoin is back in the middle of noman's land, so I would not expect bitcoin's price to be hanging around in any of those prices between $55k and $85k for very much time.. but yeah, you never know.

And another question would be whether bitcoin's spot price could cause it to catch up and/or surpass gold's market cap in this cycle, which surely is possible, but not a given.. .and of course, they continue to be moving targets, too.

I would imagine that it could take 50-150 years for bitcoin to get into the 100x to 1,000x of Gold's market cap and sure it could happen more quickly if Gold loses more of its market cap rather than currently going up in its market cap.. but still invest in gold at your peril.... I know some folks love shitcoins, and surely there could be some reasons to invest in gold historically, but I doubt it is even going to come close to being able to meaningfully hold much of its value relative to bitcoin, even though it probably has good chances of holding its value relative to the dollar.. at least in the coming 5-10 years.. but who knows.. gold is a bit manipulated with its own paper dilutions and also its problems in terms of the burdens of its physicality.

[ChartBuddy]

Explanation
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[JimboToronto]

Cool. Have Sunday dinner and watch some NFL and miss the much-awaited passing of $40k.

Another game in about half an hour. $41k after the game?

no 42k big candle

btw you like kc or gb

I am stuck with my Jets

they lost again

Game over. I liked the Packers... young exciting team in an old-school small-market franchise that's overachieved since I was a schoolchild.

They won but it wasn't enough to put Bitcoin past $41k. Had to settle for $40888 at Stamp.

Can't complain though. ATHs are a good thing and we still have lots of time for tripling the price this year.

Go Bitcoin go.

[ChartBuddy]

Explanation
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[Biodom]

Congrats on almost 41K, but that 500bil Qatar rumor is laughable (I will not even going to bother with a quote because it is silly  )

Qatar sleeps well now
No silly rumors, Keiser
At least, not yet, lol

#haiku

[jojo69]

[OgNasty]

The acceleration of this rally is starting to get into concern territory. This has got to be fomo coming in to play with traders. It is very much looking like we may break through $41K today which I imagine will only get the snowball rolling faster. I’d be nervous to be a short term trader holding here as we knock on $41K already. Common sense says a correction has to be coming, but this rally is far from common.