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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[vapourminer]

buddy be messing with our heads man

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

... and he stops here

[Lucius]

anyone from us here ?



https://www.reddit.com/r/Bitcoin/comments/1kpsi5/i_put_all_my_life_savings_into_bitcoins/?rdt=44189

If that person managed to avoid Mt.Gox, found a way to safely store his coins, and did not lose his backup at least until the end of 2017, then he can be considered extremely rich. Investing even $50k in BTC in 2011 was really brave.

It is interesting who commented on his post.

[BobLawblaw]

Fed up with the $58k gang? Here’s an explanation for why Bitcoin always returns to $58,000:

The Bitcoin Resonance Hypothesis posits that $58,000 represents a quantum equilibrium state for Bitcoin's price, caused by a phenomenon known as "blockchain resonance."

This theory suggests that the cryptographic algorithms underpinning Bitcoin's blockchain have inadvertently created a harmonic oscillation pattern in the digital currency's valuation.

At precisely $58,000, the mathematical properties of Bitcoin's SHA-256 hashing algorithm align with the golden ratio (φ ≈ 1.618), creating a state of minimal energy in the crypto-economic system. This alignment causes a subtle but persistent quantum effect that always pulls

The effect is amplified by the collective behavior of miners and hodlers, whose actions unconsciously reinforce this resonance through a complex feedback loop involving mining difficulty adjustments, trading patterns, lettuce hands and BT sentiment.

While market forces can temporarily push the price away from this equilibrium, the underlying quantum resonance inevitably reasserts itself, causing Bitcoin to "boomerang" back to the $58,000 mark with almost eerie regularity.

If you found this helpful I have some beachside property in Montana to sell to you.

[JayJuanGee]

anyone from us here ?

https://www.reddit.com/r/Bitcoin/comments/1kpsi5/i_put_all_my_life_savings_into_bitcoins/?rdt=44189

Sounds scary to go "all in" like that, and we've met those kinds of folks over the years.. (Elwar did something like that in 2016). I could not see the exact date of the post, yet 11 years ago would be right before the second half of the 2013 price run.. 

So maybe $100-ish per BTC-ish?  which would be 500 BTC.. and even if the guy was able to hang onto half of his stash, he would still have 250 BTC.. but from my impression, the way he was framing the whole "going all in" matter, I get he sense that he might be a bit of a weak hand, unless he was able to grow out of that, so then I wonder if he would have been able to mostly hang onto even half of his stash over various trying times over the years.. .. and yeah, by now, he would not even have to hang onto half since even 50-100 BTC would still put him in a decently good position, in the event that he might have had been able to hang onto even 1/5th or more of what he might have had been able to purchase with his $50k in mid-ish 2013.... so who knows how it all played out for the guy?

I personally made my first BTC purchase late 2013 around $1,200.. so that guy would have had gotten in before me.. but did he make it through the waves would still be a mystery.... and not easy to judge from just one post like that... even though we can speculate about the various ways it might have had worked out for a guy in such a situation.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

Fed up with the $58k gang? Here’s an explanation for why Bitcoin always returns to $58,000:

The Bitcoin Resonance Hypothesis posits that $58,000 represents a quantum equilibrium state for Bitcoin's price, caused by a phenomenon known as "blockchain resonance."

This theory suggests that the cryptographic algorithms underpinning Bitcoin's blockchain have inadvertently created a harmonic oscillation pattern in the digital currency's valuation.

At precisely $58,000, the mathematical properties of Bitcoin's SHA-256 hashing algorithm align with the golden ratio (φ ≈ 1.618), creating a state of minimal energy in the crypto-economic system. This alignment causes a subtle but persistent quantum effect that always pulls

The effect is amplified by the collective behavior of miners and hodlers, whose actions unconsciously reinforce this resonance through a complex feedback loop involving mining difficulty adjustments, trading patterns, lettuce hands and BT sentiment.

While market forces can temporarily push the price away from this equilibrium, the underlying quantum resonance inevitably reasserts itself, causing Bitcoin to "boomerang" back to the $58,000 mark with almost eerie regularity.

If you found this helpful I have some beachside property in Montana to sell to you.

how many acres do you have for me?

[BitcoinBunny]

We will go up in about 6 hours, when Nvidia posts +- 10% up on target earnings.

Probably back to 64K I guess.

So stupid.

 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[vapourminer]

If you found this helpful I have some beachside property in Montana to sell to you.

how many acres do you have for me?

i hear the fishing is awesome

[philipma1957]

We will go up in about 6 hours, when Nvidia posts +- 10% up on target earnings.

Probably back to 64K I guess.

So stupid.

 

Maybe.

 I tell you this BTC seems to be stuck in a track and it is getting to look like the 1989 to 2005 gold track

year--- low--- high

1989---358---417
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2001
2002
2003
2004--373---455

2005--411---537
2006--520---725
2007--608---841
2008--692---1,023


gold tracked in a slot for over 15 years and breakout started in 2005

  Is btc going to track like this 30-70k for a dozen years.  
 The only thing pointing against this is mining just adds gear and grows like mad.
REAL btc Coins don't grow like mad anymore, but fake coins grow a lot.

It feels like BTC is tied into a slot

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

buddy you suck

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

OT:

Ok, so Berkshire Hathaway's stock nearly tripled (2.7X !!) since the bottom of 2020, while the major economies of the world crumbled and saw massive layoffs, pullbacks, and out-of-control inflation.

In just 4 years.

Holy fk, that's HUGE.

By any definition, that is textbook runaway hyperinflation.

If from here their stock doubles or (god forbid) triples again by 2028, massive hyperinflation will all but be confirmed.

People should be worried, but apparently they're too busy filming TikTok twerking and silly dances.  

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

We will go up in about 6 hours, when Nvidia posts +- 10% up on target earnings.

Probably back to 64K I guess.

So stupid.
 

Maybe.

 I tell you this BTC seems to be stuck in a track and it is getting to look like the 1989 to 2005 gold track

year--- low--- high

1989---358---417
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2001
2002
2003
2004--373---455

2005--411---537
2006--520---725
2007--608---841
2008--692---1,023

gold tracked in a slot for over 15 years and breakout started in 2005

Is btc going to track like this 30-70k for a dozen years.  
The only thing pointing against this is mining just adds gear and grows like mad.
REAL btc Coins don't grow like mad anymore, but fake coins grow a lot.

It feels like BTC is tied into a slot

There surely are some problems in your thinking Philip.  You seem to be wanting to tie too many parallels to things that you know, yet your conclusions seem to inadequately account for bitcoin's paradigm-shifting properties.

Yeah, there are likely powers that be who are going to try to contain and control bitcoin, and sure they might have moments of seeming success, and even some of the characteristics  of stable coins seems to be transitioning into CBDC lites.. with various kinds of increasing government controls, and maybe even some back doors.. considering tether..and some of the taming going on with Binance and its various products. 

Bitcoin seems to complex to try to completely pigeonhole, and of course, bitcoin shares some properties with gold, even though bitcoin is around 1000x or more better than gold, so we should be attempting to account for that too..

And yeah various financial products attempt to dilute bitcoin's supply, and I am not even going to claim to know about all the various ways that coins are both faked and that the faking may or may not be able to have some short-term success versus just continuing to experience various kinds of dancing and blowing up (maybe even behind the scenes) from time to time.

Even with all the attempts at analyzing bitcoin from a variety of parameters and attempts at changing frameworks, we don't really have any evidence that bitcoin has even fallen outside of the 4 year fractal pattern, so that even if the slopes of the exponential growth periods might feel or seem to be increasingly less and less exponential and more gradual, the powers of ongoing adoption, Metcalfe principles and network effect continue to dominate even if some folks might try to put bitcoin into some other framework, which the gold one is additionally offensive since gold is largely ongoingly demonetizing (including that gold was continuing to go through such demonetizing throughout the period that you pointed out 90s, 00s through present) as bitcoin is monetizing, and sure maybe some folks consider that gold is going to remonetize, that just does not seem to be gold's fate, especially when accounting for bitcoin having had been eating gold's lunch in the past 15-ish years, and likely continuing to do so for the next 50-200 years, even while there may continue to be uncertainties in the movement during periods that we are caught within such movements (and hopefully we are mostly holding and accumulating bitcoin rather than taking other actions to deplete our holdings).