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

[100bitcoin]

Explanation
100bit.co.in thanks TalkImg.com

[1714263792]

1714263792

[1714263792]

1714263792

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[True Myth]

When I think back and the whole journey since I’m a bitcoiner …

Many know my story but when my friend showed me BTC and told me to buy/keep/hodl it.
I knew he would explain me everything a long the way.
But at the very beginning he said you just buy BTC and you hodl it everything in between is noise that you just ignore.
I think that’s the best advice for almost everybody.

Life changing, that's for sure!..

I can only count on one hand, the amount of people who listened to me over the years and hodl.

Maybe it is because I am a shit salesman, but I'd gave it my best!

I concur, filtering the noise is one basic psychological strength to hodl for long.

At this epoch as an internet savvy person and,
 you don't own bitcoin still questioning it's a risk,
hey bro, the risk is all damn on that person not owning BTC

I think the hardest part for newcomers is the first bull run followed by a hefty correction.  It's hard to deal with the "I'm a genius" followed by the "shit I fucked up" roller coaster of emotions.  Many of those newcomers sell and call it a loss.  Some of the newcomers tough it out and live to see the next bull run with newfound confidence in the bitcorn.

At least, this is my personal expierence. That first bear market after I started buying was rough but, I persisted and had faith in what BTC stands for.  All of the other bear markets after that had zero effect on me.  In fact when ever I saw BTC vs USD declining my biggest stressor was not having as much dry powder as I wanted to stack sats at a discount.

I only have a few friends and colleagues that understand Bitcoin.  The others I've spoken to still have no clue and make comments like "You still have that Bitcoin? I heard it went down pretty bad" or "I heard it's going up again".  Many of these folks are ones who bought 7 or 8 years ago, panic sold, never looked back.  I honestly don't even try to talk to new people about it anymore because I've come to realize not everyone will understand and not everyone is cut out for short term emotional roller coasters.

Observing 1BTC = 1BTC

[Out of mind]

Michael Saylor walking into Microstrategy up $2 billion on his #BitcoinBTC investment:  

[JayJuanGee]

Ha!  "gobble-dee-goos of cash"  Thanks for the chuckle @JJG 

Call me names if you like.. but I am no Saylor, and I don't mind having gobble-dee-goos of cash.. even though it is just sitting there not really doing much of anything..

Oh gosh that was quite a rambling post (what else is new?).

I had to go back to remember what it was that I wrote.

I am glad that you were able to get something out of it.   

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[goldkingcoiner]

DCA is a shit strategy if you forget to buy. I missed out on the last 5%. :/

[JayJuanGee]

DCA is a shit strategy if you forget to buy. I missed out on the last 5%. :/

Any BTC accumulation strategy is a shit strategy if you forget to buy.  Maybe you need some kind of a slappening to remind ur lil selfie?  just asking.

DCA had worked pretty well in the last year and a half or so, especially for anyone who might not have had any lump sum to invest or if they were somewhat worried about whether the BTC price would have been going up or down.  Even if we go out as far as two years ago, which would have been starting to invest into bitcoin right around the peak..

If you had invested $100 per week in the last two years, you would have invested around $10,500, and you would have had accumulated around 0.4315 (which would be worth around $19k at today's $44k prices).

Yeah, sure lump summing would have had been better, especially on the extensive dip below $20k.. but there were not too many with confidence to buy bitcoin in those days, and even the bitcoiner's who had confidence in BTC likely had ended up spending a lot of their fiat to buy BTC at prices much higher than $25k... ..

so many of the bitcoiners who believed in bitcoin in the last couple of years might have even ended up relegated to some variation of DCA.. and yeah at the same time, you have to likely continue to do it, rather than getting skittish upon the 2022 dip below $25k and the fact that we spent a lot of time below $25k and even spent more than 18 months below $35k... so DCA could have ended up working out pretty well for those guys who consistently bought BTC in the last two years and maybe even more so if they were able to be more aggressive during periods that the BTC price was below the 200-week moving average.. which was quite a bit of that time... even right before this latest bounce we were right around 10% below the 200-week moving average when we pretty much bounced from $27k to our current $44k price in right around 6 weeks... gotta love the punishment of so many of the nocoiners, low coiners, fence sitters, shitcoin pumpeners, bears, bitcoin shorters and bitcoin naysayers.

[jojo69]

DCA is a shit strategy if you forget to buy.

[goldkingcoiner]

DCA is a shit strategy if you forget to buy. I missed out on the last 5%. :/

If you had invested $100 per week in the last two years, you would have invested around $10,500, and you would have had accumulated around 0.4315 (which would be worth around $19k at today's $44k prices).

Yeah, sure lump summing would have had been better, especially on the extensive dip below $20k..

2 years ago on this day the BTC price was >50k. A lump summer would still not be in the black by now. Maybe sometime in the coming days/weeks.  

A DCA'er would have almost doubled his coin.

Since we can never know when a dip is coming in the long-term future, neither DCA nor lump sum should be viewed from a perspective of investing at the lowest price of a dip. And before anyone mentions it: the perspective of having invested in Bitcoin during its "unicorn" days is not realistic either.

Both are profitable strategies. But combining DCA with short-term price predictions based on TA/FA is best, in my view.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[sirazimuth]

DCA is a shit strategy if you forget to buy. I missed out on the last 5%. :/

It's not DCA if its a manual input, imo.
I've been DCAing since 2013, all done in the background, automatically.
The only time I occasionally intervene is to adjust a parameter. (amount, frequency etc.)

...
Oh gosh that was quite a rambling post (what else is new?).
......

Why am I not surprised?

...
I had to go back to remember what it was that I wrote.
......

Why am I not surprised?

 

[vroom]

Explanation
Chartbuddy thanks talkimg.com

finally a wall worth to observe! looks massive!

[AlcoHoDL]

Explanation
Chartbuddy thanks talkimg.com

finally a wall worth to observe! looks massive!

You will watch with awe how it's going to be sliced like butter when we break $50k next week.

[OutOfMemory]

DCA is a shit strategy if you forget to buy. I missed out on the last 5%. :/

The broker of my choice is offering recurring buys starting from $50. It's KYC-ed, though.
On the other hand, only buys/sells of more than $1000 are reported to the authorities.

Explanation
Chartbuddy thanks talkimg.com

finally a wall worth to observe! looks massive!

You will watch with awe how it's going to be sliced like butter when we break $50k next week.

The Mar'22 bull-trap's top, i was already waiting for that wall to appear.

[Torque]

Many here celebrate seeing btc going up, because their holdings are growing in value.

Some of us celebrate seeing btc going up, because we have to sell less and less of it to live. 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

hey JJG is the bottom in?

I was kind of wondering about some variation of that question.

You know that I mostly considered the $15,479 bottom to be in around the time of our going up past $30k the second time in this rebound.. which would have been in June.. around the time that I "suffered" my Binance error...

so then my recent considerations had to do more with whether $30k might ever get breached again, and surely it would be dangerous to remove all buy orders below $30k, even though most likely it should be safe to remove most if not all of them below $20k.

Call me names if you like.. but I am no Saylor, and I don't mind having gobble-dee-goos of cash.. even though it is just sitting there not really doing much of anything.. and yeah, after my first few years in bitcoin, I remained somewhat nervous about holding so much cash, but gosh there were so many times in which I ended up getting nervous because I was running out of cash.. and I am not even sure if I need to list all of the times and the various kinds of remedies that I had to try to figure out so that I would not feel that I was running out of cash... and each cycle has been getting better and better and better to have extra cash that is just available.. but how many of us mostly BTC HODLers were sitting on sufficient cash after the BTC prices went below $25k in June 2022?  The ONLY folks who I recall bragging about how much cash they had were the no coiners and low coiners, and gotta take those guys with a decently large grain of salt, for sure.

So, yeah we don't really need cash in times like this.. so I don't know what to say, further - except that it does seem that I have more BTC this time around than I had in 2021 when we were going up (both the first time in early 2021 and the second time in late 2021 - which I think that the second time I had more BTC than the first time, and sure I would have to check my details more specifically).. so that having more BTC phenomena is a kind of progress that is within the system of being mostly a HODLer. .even a HODLer who doesn't really have anything against spending BTC, even though I would say that I really was not trying to get more BTC since early 2021 (because even in 2021, I felt that I had more than enough BTC) because it is kind of a side-effect to end up having more BTC.. in spite certain kinds of spendenngs along the way...

What do you think about bottoms?  Do you believe that we are going up from here, and no more bottoms?  By the way, we heard a lot of "down before up" since October, and those calls have not played out very well, so far.  Sooner or later one of those "down before up" calls will end up playing out correctly, if anyone still dares to proclaim such a thing, again.  

I really love them!! But to be frank most of the time that I think about bottoms it's not about charts.


I think we won't go down to that 15k area ever again (super extreme black swan events excluded). But there will be future bottoms of course.  Hopefully above the last ATH like it's always been before this cycle.

[CounterEntropy]

Explanation
100bit.co.in thanks TalkImg.com

Slowly, but surely, 2023 is closing the gap with 2021. 2024 is going to bring in new wonders...