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

[sirazimuth]

ot alert...
To celebrate the latest BTC pump... hot off the press soundcloud for wo bros exclusive (I only share on this thread)

Running Free     ©2024

Dates sit on the bedside table while I sleep  
The cats tramp around all around my feet  
The remote, it vanished into thin air
I searched for days its gone as far as I'm aware

Now a fat cat decides to curl up in the bend of my knee  
Leaving stains behind on my laundered sheets
I cant complain because it's 10am and there's no where I'm supposed to be
Why is there a tape measure next to my cold mug of tea?  

There's nothing much left I need to see
Because I made my peace now I'm running free  

Kick back, screen time, free internet university  
Learn the ways of a place gone way too extreme  
I just ride the bus and wonder who's at the wheel  
Shake my head and come to terms with a new weird, wacked out woke deal  
There's nothing much left I need to see
I made my peace now I'm running free  

Oh yeah!
I'm running free
And I made my peace

(LEAD BREAK THAT ISNT ADDED YET...open canvas for interested shredders)

Yeah, There's nothing much left that I haven't seen  
I made my peace now I'm running free  

The dates sit on the bedside while I sleep
That cats tramp all around over my feet    
The remote vanished into thin air (where the hell did it go??)
I searched for days its gone as far as I'm aware

Yeah, there's nothing much left that I haven't seen  
Yeah, there's not much more from this place that we can glean  
Maybe make a minute piece of history  
I made my peace now I'm running free  
I made my peace now I'm running free  

SIRAZ    

https://soundcloud.com/sirazimuth/running-free3     ©2/2024

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[LFC_Bitcoin]

FWIW Tim Pool predicts BTC is going to 200K in the next month or so and drop down to 80K.

https://www.youtube.com/watch?v=J7-r_Raaoxo

I can definitely live with that scenario.

Don’t think it’ll happen though, unless it’s a big leg up & deep correction in a super cycle that takes us to $500,000 or something in 2025.

I think $200,000 is very possible but not until next year. The top won’t be far off $200,000. Within the next month though, I hope so but unlikely imo.

NFA.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

...JJG

OK, I think we're almost done here for the moment.

In 2021 I had a larger investment in BTC, that's one big reason it worked out so well.  Also, I knew more about how to play the game.  This time, alas, I have a smaller amount, so will not clean up bigly unless there is a huge spike.  But, it's all good.

Speaking of huge spikes, howzabout 1000x?  "Bag" says could be, it's the network...:
https://bagholder.substack.com/p/monopoly

Ok.  I have worn you out.  no problema.

I don't really get that reliant on BTC UPpity.. even though I already have enough so I can pretty much spend it whenever, even though I have systems in place to spend fiat first, and then so yeah sometimes there can be questions about what to spend it on..and maybe even having too much fiat that needs to be spent first.. but still there can be balancing and also some stresses that come from outrageous downity periods. so there could be reluctance to spend any BTC during down periods and then running out of cash.. so any of us might still need to figure out ways to manage these kinds of balances.. and there could be ways to spend more money in order to run out more quickly too..

In terms of price, I think that it is quite difficult to know, because many of us (not sure if you fit in this camp) likely realize that BTC has a value that is right around at least 1,000x of gold, and BTC is currently about 1/10th to 1/12th lower in price than gold (referring to market cap).

So I kind of sense that getting to gold parity and even 10x higher than gold might not be very difficult, either this cycle or maybe 1-2 extra cycles,, but then getting from 10x gold until 1,000x gold, that could take 50 to 200 years... and in terms of the article, yes bitcoin is likely to be a 100x in the coming 1-3 cycles, but it also could end up in 1,000x from here in another couple cycles after that.. but who knows.. including that its upward potential is still more than 10,000x from here, and there could be some expansion of bitcoin's addressable market too in order to expand the addressable market.. but that is still also quite a bit further out into the future.

and yeah, most  of us are looking in the next 1-4 cycles and maybe we might not even be living another 50 years, even some of the younger wipper snappers in these here parts might find it difficult to be attempting to plan 50 years down the road, even though some of them will likely still be alive.. and some of us will be gone prematurely too and perhaps believe that we might be able to make it another 50 years, and not be able to do it.. .. but does it really matter so much if we can make it 50 years because even if some of us might have a longer investment timeline, there might not be too many guys that want to plan to be investing 30 years or more.  The guys are going to want to be transitioning to spending their coins rather than accumulating them, even the newest of coiners...and yeah some guys are already in the spending rather than holding stage.. so even a brand new bitcoin investor would like to short cut some of the time in order to be able to start to spend,.. so maybe in 15-20 years rather than 30-40 years.

[jojo69]

Nigeria orders cryptocurrency firm to pay $10bn

The Nigerian government says it has demanded almost $10bn (£8bn) in compensation from the cryptocurrency firm, Binance.

It says Binance manipulated foreign exchange rates through currency speculation and rate-fixing, which have seen the naira lose nearly 70% of its value in recent months.

Two Binance executives were arrested in Nigeria earlier in the week.

Binance has not responded to the BBC's requests for comment.

Nigeria is Africa's biggest economy and also one of the world's biggest cryptocurrency markets.

Cryptocurrency transactions equivalent to about 12% of Nigeria's total income, or GDP, took place in the year to June 2023, according to Reuters news agency.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Chibit01]

Does anyone care to explain or know how these ETF's work?
Do they hold indefinitely?
Do they sell at x y Z % profit?
Do they sell when the clients(boomers) say sell?
Or is the fund manager in control?
Do they actively trade too?

Thanks,

Yeah I am absolutely interested to know also please any explanation can go a long way I very long way

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

Nigeria orders cryptocurrency firm to pay $10bn

The Nigerian government says it has demanded almost $10bn (£8bn) in compensation from the cryptocurrency firm, Binance.

It says Binance manipulated foreign exchange rates through currency speculation and rate-fixing, which have seen the naira lose nearly 70% of its value in recent months.

Two Binance executives were arrested in Nigeria earlier in the week.

Binance has not responded to the BBC's requests for comment.

Nigeria is Africa's biggest economy and also one of the world's biggest cryptocurrency markets.

Cryptocurrency transactions equivalent to about 12% of Nigeria's total income, or GDP, took place in the year to June 2023, according to Reuters news agency.

 Imagine trying to force anyone to accept a currency that will be worth half the transacted value before you can stuff it all in your wallet.



  ffs

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[strawbs]

Does anyone care to explain or know how these ETF's work?
Do they hold indefinitely?
Do they sell at x y Z % profit?
Do they sell when the clients(boomers) say sell?
Or is the fund manager in control?
Do they actively trade too?

Thanks,

Yeah I am absolutely interested to know also please any explanation can go a long way I very long way

They just buy forever and ever and ever until there's no more left to buy, and then they cry a lot, wishing they had bought more earlier. And we all live happily ever after.

[Toxic2040]

the evening wall report


US debt increasing about one trillion dollars every 100 days
this is as ridiculous as it is obscene
legacy markets up again today with the nasdaq and s&p500 both hitting ath's
both gold and oil up again today also
the crazy thing about this rally is that there has not been a rate cut or any other driving factor besides plain demand brought on by the institutional investment into the ETF's
its a pretty strong signal imho
locally everything under the daily time frame looks great....I am somewhat concerned about the high RSI readings on the daily and weekly charts....but i dont think we are over cooked quite yet
tough spot here....want to take the charts and throw them out the window
trying to use legacy indicators on the hardest asset ever created....i sometimes wonder how much sense it actually makes
be that as it may....the forms probably should be kept for the now
either we go up and tickle the ATH or consolidate for a few days to a few weeks....solid steady sideways is never a bad thing
with the frothiness there is likely to be ample volatility for the daytarders
other than that...situation normal....stack and hodl

company shall form up at a walk and raise lances

dyor


D


W

stronghands

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

okay buddy in the Words of Joe Biden "here's the Deal"

"we want you to break new ground 70k over night."



I have 7pm EST  let us see 70,019 by 8am tomorrow morning.

chopper will get very busy so vroom will need be ready for  the exercise.


 

[OgNasty]

okay buddy in the Words of Joe Biden "here's the Deal"

"we want you to break new ground 70k over night."



I have 7pm EST  let us see 70,019 by 8am tomorrow morning.

chopper will get very busy so vroom will need be ready for  the exercise.


 

I don't think we're going to have the strength to push it to new highs during a weekend.  Maybe I'm wrong but it feels like the market is really centering around ETF trading these days.  Maybe the weekend will stir up some FOMO for Monday action that will take us to new heights...  We'll have to wait and see.  I tend to think we have another week or two of consolidation before we take another leg up, but this market has been surprising me since the beginning. We could rip straight to $100K before the halving and it would seem normal at this point.

[bitserve]

okay buddy in the Words of Joe Biden "here's the Deal"

"we want you to break new ground 70k over night."



I have 7pm EST  let us see 70,019 by 8am tomorrow morning.

chopper will get very busy so vroom will need be ready for  the exercise.


 

I don't think we're going to have the strength to push it to new highs during a weekend.  Maybe I'm wrong but it feels like the market is really centering around ETF trading these days.  Maybe the weekend will stir up some FOMO for Monday action that will take us to new heights...  We'll have to wait and see.  I tend to think we have another week or two of consolidation before we take another leg up, but this market has been surprising me since the beginning. We could rip straight to $100K before the halving and it would seem normal at this point.

Agreed.

I will be more than happy if (as it seems will happen) we close the weekly candle over 60K. Consolidation is important.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com