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

[El duderino_]

So??
Never
Under
40
Again
??

I'd happily take a bet with you, or another reputable member, that price will go below $40K again before the end of the year (2024).

0.1 BTC is the offer.

Yeah I understand
A dip is always around the corner

But

I will take a bet when I say bitcoin will not be trading 50 days in 2024 under the price of 40k

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[WatChe]

5 kg potato for 250 Pak Rupees.
1 USD = 280 Pak Rupees.

5 kgs of Potato for 0.9$
 
Cheap? Or is it more cheap in your country?

Photo credit : WatChe

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gormicsta]

Today's #Bitcoin sent to Coinbase by $GBTC/Grayscale comes out to be 18.3K $BTC or ~$740M worth.
https://twitter.com/DaanCrypto/status/1749438652390732048

Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50

This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.

Pretty relentless, sustained selling. It has to end soon, surely?

We’re down from $49,000 to $39,700 since ETF approval today.

Fuck Grayscale.

Yes, that is a rather harsh sell-off! It is definitely excessive, particularly in light of the fact that this was not the anticipated advantage of the ETF approval for traders and investors.

 It's interesting that you bring up Grayscale because they have been accused with manipulating the market by allegedly selling significant quantities of cryptocurrency to lower prices, however I'm not sure if these claims are true.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Troytech]

Today's #Bitcoin sent to Coinbase by $GBTC/Grayscale comes out to be 18.3K $BTC or ~$740M worth.
https://twitter.com/DaanCrypto/status/1749438652390732048

Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50

This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.

Pretty relentless, sustained selling. It has to end soon, surely?

We’re down from $49,000 to $39,700 since ETF approval today.

Fuck Grayscale.

Fuck Grayscale, God bless Grayscale for bringing the dip, bro with halving coming, we might not have or see bitcoin at this price range for a while and we don't know what to expect, just keep buying if you have the funds to do so.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Negotiation]

#Bitcoin – A vision of a decentralized future. 🏙️✨ Is this the world we want to live in?


Source.

Buildings with an excessive amount of Bitcoin advertising?

You wanna show me an image of a decentralized future? Create a picture of a banker crying under a bridge, with tattered clothes and a hobo-stick.

I don't know, this question was through the @Bitcoin Twitter account. but I do not agree fully.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[danadc]

Hello guys, I'm looking at some things about bitcoin and I found it very interesting why does inflation influence bitcoin?

The PCE is still above the 2% target the US Federal Reserve is using to benchmark tightening effects. The central bank has brought the Federal Funds rate to between 5.25 and 5.5% since March 2022, which has seen prices in most sectors cool off significantly, except for shelter.

The US Treasury plans to announce its borrowing plans for 2024 on Jan. 31, 2024. Higher government borrowing can signal that the government is willing to take on more risk and lower the appeal of government bonds since more debt increases the chances of a default. As a result, some investors could choose Bitcoin.

Source: https://beincrypto.com/us-inflation-fed-influence-bitcoin-price/

Well, things can work like this, I like that the largest and most influential economy in the world has to verify that the best solution to inflation is Bitcoin, the results of the price can be considerable now, but it has been stated that always in any event, the The best alternative is Bitcoin, the Adoption is evident, and I think the price of Bitcoin may rise in about 3 months or something , due to the Halving effect.

Now yes, there are many analysts who are quite effusive about their analyses:

“Unless Bitcoin reclaims the 42K (HTF), this is nothing more than a lower high, in my opinion. <…> Everything below 48K can be used as fuel to recharge short positions,” he said.

In this context, JPMorgan (NYSE: JPM) strategist Nikolaos Panigirtzoglou suggested that the Bitcoin sell-off might be nearing an end, stating that the “GBTC profit-taking has largely happened.”

Meanwhile, BlackRock’s (NYSE: BLK) Bitcoin ETF is poised to achieve a noteworthy milestone by surpassing $2 billion in assets under management. The firm’s latest product is maintaining its dominance in the emerging category of ETFs, which is viewed as a positive sentiment for the market, considering BlackRock’s status as the world’s largest investment firm.

Notably, at the start of the week, Bitcoin experienced a significant decline, dropping below $39,000 for the first time since early December. Interestingly, several analysts had projected that the sell-off might extend further to the $30,000 level, and therefore, the ongoing rebound could be welcomed news for the market.

Source: https://finbold.com/analyst-identifies-key-price-level-to-validate-bitcoins-bullish-scenario/


I like to hold on to the good things that can be presented here, in what can happen I do not lose faith in good analysis, I think that right now what there may be are high expectations about the price, I do think that it will rise a lot this year, and that in a matter of a few months we will have a very high Bitcoin price.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

5 kg potato for 250 Pak Rupees.
1 USD = 280 Pak Rupees.

5 kgs of Potato for 0.9$
 
Cheap? Or is it more cheap in your country?

Photo credit : WatChe

Potato measuring tape:

$0.18/kg in WatChe country
$1.49/lb in Houston, USA (for Russet potatoes)=$3.28/kg

3.28/0.18=18X price difference, wow!
I wonder what is the average yearly income in your country, @WatChe?

EDIT: found it...USA average income is $61900/year (https://www.thestreet.com/personal-finance/average-income-in-us-14852178), Pakistan 981600 PKR/year ($3505)
However, you can buy almost EXACTLY the same amount of potatoes with it: 18872 kg in US and 19472 kg in the other country.
So, on potato purchase parity, pakistanis are slightly ahead!
That's why the $$ values are largely meaningless within a country-you have to look at it from a purchase power parity perspective.
Of course, if you want to travel, then the difference in cost would be dramatic-either incredibly cheap or very expensive, depending on the direction of travel.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

5 kg potato for 250 Pak Rupees.
1 USD = 280 Pak Rupees.

5 kgs of Potato for 0.9$
 
Cheap? Or is it more cheap in your country?

Photo credit : WatChe

Potato measuring tape:

$0.18/kg in WatChe country
$1.49/lb in Houston, USA=$3.28/kg

3.28/0.18=18X price difference, wow!
I wonder what is the average yearly income in your country, @WatChe?

 Those are really cheap potatoes!
Best I can find here this week is $2.96 for a 10lb bag of Russet potatoes.  I only like those baked over coals in foil wrap though so I don't usually get them this time of year.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ivomm]

The good news is that Grayscale outflows are slowing down. The bad is that the net balance is negative 4 days in a row (although we don't know iShares inflows for 26th). More importantly, 18K bitcoins have beed added to the total of 637K BTC (to all companies inc. Grayscale), compared to the start of the ETF's when Grayscale had 619K BTC. This is for 2 weeks. In comparison, after the halving 450x14=6300BTC will be removed in sell pressure each 2 weeks.  Of course, there are no guarantees that this trend will be kept for long, especially once the price starts to climb up. But if it is kept long enough, then the supply shock will be spectacular.  

[Paashaas]

This is how the Bitcoin price chart should be looked at:

X