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

[Richy_T]

Not a biggie, yet, of course, but it is enticing to think about why this is happening.
I don't buy into P. Brandt 25% probability that bitcoin has already exhausted it's bull phase as it would be quite pathetic of a bull, but it seems that some macro factors are playing into this: maybe persistent inflation and hence no easing or maybe stagflation (albeit it is ridiculous to expect stagflation when we just started the AI era). I am reading that % of people not paying their bills is increasing in parallel with the credit card debt (1.2 tril in US). maybe the large %% of the population is simply broke (even with almost full employment)

It's not that unexpected. The halving generated interest and raises prices, putting more coins on the market and dampening the effect of the supply shock. The lowered availability of coins has its effect eventually though.

With that said, current financial conditions are a concern and it would be foolish to think they were having no effect.

[MERlT]

Pain...

The former boss of the world's largest cryptocurrency exchange has been jailed for four months for allowing money laundering... maybe related to dip?

 

[lightfoot]

OT:

This is WO. Everything seems to be on topic :-)

Oh gee lookie, another simmering Summer of Love in the U.S. just in time for a highly contentious election year.

*yawn* All part of the plan, no biggie. You can set your watch by this stuff.

When are people going to stop getting played? Oh yeah, that's right, never.  

It's why the world is so stable. Just like predicting that bitcoin falls on April 14th when everyone cashes out for taxes. Like clockwork.

My concern is not what the rabble are doing, the question is what are the keys doing?

And at this point man, I'd hate to be a key.

[Paashaas]

It will tank to ~$50k ore even $40k support depens how many rockets Israël fires.

Market is uber bearish.

ETF's are done buying and Hong Kong pumping Bitcoin was fake.

Barry Shillbert still selling.

Retail is broke.

No demand.

Perhaps this halving will be a total flop.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

It will tank to ~$50k ore even $40k support depens how many rockets Israël fires.

Market is uber bearish.

....

[Gachapin]

got some discounted corn today.

next buy level is set at 55555.

I have my doubts that it will go any lower than that, but who knows...   The King giveth and the King taketh



quite a lot of flavor enhancers, but who am I to complain




this one is probably better, but I've never seen it in a store

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[El duderino_]

It will tank to ~$50k ore even $40k support depens how many rockets Israël fires.

Market is uber bearish.

ETF's are done buying and Hong Kong pumping Bitcoin was fake.

Barry Shillbert still selling.

Retail is broke.

No demand.

Perhaps this halving will be a total flop.

The “it will” isn’t correct imo every few weeks I have seen such a dip not the unusual.

ETF’s being done also flawed just can’t know…

Barry selling = correct

Retail broke many yes on the other hand a lot of them getting interested and
User counts keep increasing

Always demand…. Every coin sold got a new buyer.

As always trader getting smashed around
Hodler unaffected
Perfectly balanced as all things should be.

[vapourminer]

got some discounted corn today.

next buy level is set at 55555.

I have my doubts that it will go any lower than that, but who knows...   The King giveth and the King taketh

quite a lot of flavor enhancers, but who am I to complain




this one is probably better, but I've never seen it in a store

big tech big ramen got us

[Phil_S]

Someone left BTC on pause.
Whoever has the remote, can you press play again, or fast forward if it comes to it?

Thanks!

Wrong button! Wrong button!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

got some discounted corn today.

next buy level is set at 55555.

I have my doubts that it will go any lower than that, but who knows...   The King giveth and the King taketh

quite a lot of flavor enhancers, but who am I to complain




this one is probably better, but I've never seen it in a store

big tech big ramen got us

totally OT

I heard the Japanese started the whole instant ramen thing because they had to make use of the relief aid flour provided en mass by the US, after WW2...   culturally they weren't so used to flour consumption, like bread or else, but instant noodles solved it

[JimboToronto]

Good morning Bitcoinland.

Nice to see Chartbuddy back. Thanks Richy.

The predictable post-halving dip is right on schedule. Glad I bought my tax-time dollars when a bitcoin could still get 64k of them.

Hopefully by the time I need to buy some more in early June dollars will be cheap again. This dip shouldn't last too long.

Go Bitcoin go.

Edit: I just noticed I passed 4k activity.

4k merit is easy... just make decent posts. 4K activity takes time and regular posting.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[digital_mine]

Good morning Bitcoinland.

Nice to see Chartbuddy back. Thanks Richy.

The predictable post-halving dip is right on schedule. Glad I bought my tax-time dollars when a bitcoin could still get 64k of them.

Hopefully by the time I need to buy some more in early June dollars will be cheap again. This dip shouldn't last too long.

Go Bitcoin go.

Edit: I just noticed I passed 4k activity.

4k merit is easy... just make decent posts. 4K activity takes time and regular posting.

The recent halving took place and shortly after, we are witnessing a 10% drop in the price of Bitcoin.

So, is there any truth to the comment about the "predictable post-halving dip"? Let's take a look at the historical price action of Bitcoin following previous halving events:

First halving: November 28, 2012 - The mining reward decreased from 50 BTC to 25 BTC per block. Bitcoin's price at the time was around $12.20. Indeed, in the months following the halving, the price of Bitcoin dipped, falling to around $6-7 by the end of November 2012. However, by the end of 2013, the price had skyrocketed to almost $1,000.

Second halving: July 9, 2016 - The mining reward was reduced from 25 BTC to 12.5 BTC per block. Bitcoin's price stood at approximately $640 at the time of the halving. Once again, a temporary decline occurred, with the price dropping to around $550 by the end of July. But by July 2017, Bitcoin's price had soared to $2,550.

Third halving: May 11, 2020 - The mining reward was halved from 12.5 BTC to 6.25 BTC per block. Bitcoin's price was around $8,750 at the time of the halving. A similar pattern emerged, with the price dipping to about $8,600 by the end of May. However, by April 2021, Bitcoin had reached a new all-time high of over $64,000.

Now, following the fourth halving in March 2024, we have witnessed another price drop of 10%, as mentioned earlier.

Based on this historical context, it seems that the comment about the "predictable post-halving dip" holds some weight!!

[log2exp]

Pain...

The former boss of the world's largest cryptocurrency exchange has been jailed for four months for allowing money laundering... maybe related to dip?

 

4 months is way too soft on the penalty. CZ has been pushing shitcoins for ages. Best to jail him indefinitely.

[AlcoHoDL]

Bitcoin has this funny property that few understand:

Short-term chaos.
Long-term order.

Fact: when averaged over any 4-year period in Bitcoin's history, price has always been increasing. Any 4-year period! This actually describes the 200-Week Moving Average indicator. It's a beautiful thing. Look at it. Never dropped. Always rising. Mathematicians call it monotonically increasing. It's always been like this. Will it change any time soon? I don't think so.

So, sit back, relax, have a ramen, watch a flick. Next morning you'll be richer, guaranteed. No need to look at the charts.

It really cannot get any better than this.

#iykyk
#gtcttww
#blessed

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

It is sort of funny that this message got cited live by Tomas on World Crypto Network..   it was at minute 50 and 44 seconds  (you can hear it right here (queued in and everything).  

He read it (as a "shout out"), and he said, looks they are allowing shout-outs, but he did not speak of the substance of the message, so admittedly, he must not be a WO regular (or perhaps a forum regular).. not that anyone would automatically get the context.