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

[OgNasty]

So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…

https://x.com/nayibbukele/status/1866245123786326271

[philipma1957]

So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…

https://x.com/nayibbukele/status/1866245123786326271

mmm nice lets cross our fingers for it to happen.

@ jjg I will always keep some. as time goes on I will likely stop mining. but coins should have big value when I do that.

At least 7 digits a coin.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…

https://x.com/nayibbukele/status/1866245123786326271

mmm nice lets cross our fingers for it to happen.

@ jjg I will always keep some. as time goes on I will likely stop mining. but coins should have big value when I do that.

At least 7 digits a coin.

Which version of the matrix is this one?
Sounds almost like a movie scenario.

[d_eddie]

So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…

https://x.com/nayibbukele/status/1866245123786326271

If it is true (and it still remains to be seen), Bukele could use part of that $3T gold to secure the $1.3B loan he needs so badly, rather than bending over backwards to please the IMF by modifying the law that makes bitcoin legal tender.

El Salvador to Change Bitcoin Payment Law for $1.3 Billion IMF Loan

[OgNasty]

So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…

https://x.com/nayibbukele/status/1866245123786326271

mmm nice lets cross our fingers for it to happen.

@ jjg I will always keep some. as time goes on I will likely stop mining. but coins should have big value when I do that.

At least 7 digits a coin.

Be honest. You couldn’t stop mining if you wanted to. It’s beyond habit at this point.

If it is true (and it still remains to be seen), Bukele could use part of that $3T gold to secure the $1.3B loan he needs so badly, rather than bending over backwards to please the IMF by modifying the law that makes bitcoin legal tender.

El Salvador to Change Bitcoin Payment Law for $1.3 Billion IMF Loan

My vague understanding now is that it isn’t a new discovery, they were aware of it, but they have never accessed it and passed laws to leave it alone. This is supposedly Bukele’s attempt to rally people to be ok with him changing the laws to mine the gold.  I got this information from random people on X though, so it could be completely wrong.

[philipma1957]

So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…

https://x.com/nayibbukele/status/1866245123786326271

mmm nice lets cross our fingers for it to happen.

@ jjg I will always keep some. as time goes on I will likely stop mining. but coins should have big value when I do that.

At least 7 digits a coin.

Be honest. You couldn’t stop mining if you wanted to. It’s beyond habit at this point.

If it is true (and it still remains to be seen), Bukele could use part of that $3T gold to secure the $1.3B loan he needs so badly, rather than bending over backwards to please the IMF by modifying the law that makes bitcoin legal tender.

El Salvador to Change Bitcoin Payment Law for $1.3 Billion IMF Loan

My vague understanding now is that it isn’t a new discovery, they were aware of it, but they have never accessed it and passed laws to leave it alone. This is supposedly Bukele’s attempt to rally people to be ok with him changing the laws to mine the gold.  I got this information from random people on X though, so it could be completely wrong.

probably true I will just mine on.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Perfectbaby]

Demand has to catch up with price, and you are correct that perceived value has to catch up too.

Just because bitcoin has an addressable market and monetary capacities that cause it to be around 1,000x or more valuable than gold, that does not mean that we wake up tomorrow and BTC prices are $900 million per coin. It takes time to get from $100k per coin to $900 million per coin, just as it has taken nearly 16 years for bitcoin to get from $0 to $100k or maybe more realistically (let's not count the first 3 years) nearly 13 years for bitcoin to get from $5 to $100k per coin.

Yes you are very correct!
But Let's consider some factors that surrounds bitcoin currently and the reason for the exponential growth above expected, and if we say it would take time then it's not getting the attention needed and to me which I think as days passes by the more visible and known (more demand increases, more people acquires it) if it took up to nearly 13 years as you said then I would say due to the rapid interest in some institutions and such as blackrock, fidelity and couples with the just elected Us president who is now bitcoin friendly wouldn't take much time for bitcoin to double it's price on a shorter range, do I say we forget about the ETFs as well? No!
All these will sharpen the edge of bitcoin for faster rise above the 13 years past. Maybe in less 5.9 to 6.6 years Bitcoin would gain the price and the attention it never gained since everly created.

To sum it up; the past 16 years was a year of seeking for attention, now it has gained the attention required and it wouldn't take that long for incredible things things to happened. Therefore I am on the hodl lane.

I don't mind your seemingly bullish sentiment, but you are seeming to suggest that I am not bullish enough in my characterizations of where we are as compared to where we might be going.

You are not saying that we are going to arrive at $900 million per bitcoin in the next 5.9 to 6.6 years, are you?

I am not emphatically perpendicularly saying that you aren't bullish enough, I am just characterising the market based on the recent attention gained so far, but what more?
If you have overly generalized the market from the past historical data on how it should then what I give may not seems to evenly emerged as a resulting edge of it. But however, I give my speculation in respect to the sudden surge even though there seems to be correction which would later or either stagnate the price or as a form of resistance between the market, there would definitely be a force (positive news such as more ETF) would drive the market. However, I am not in any point saying it would surge to 900m or even $1m but we still can't undermine the possibility in the space, and still there was no official announcement that it would hit 100k+ by this year. So I am as well, and who knows the resulting moment from now but we are all optimistic about the price that surely 150k -250k is possible and it wouldn't be that much difficult to achieve its price with the sudden break out and higher support it has everly gained so far than the previous years.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hueristic]

https://www.savethearchive.com/

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OROBTC]

...

filliponne just put up a great article on the prospects of BTC being accumulated (soon?) by various countries.  It's a pretty comprehensive piece on various important factors.

I wonder when the first major player is going to jump in...  The Starting Gun.  And off to the races.  I presume that the first major player (USA?  Russia?  Switzerland?), or players, would likely get BTC at a much better price than laggards...

"Everything you wanted to know about Bitcoin Strategic Reserve"

https://bitcointalk.org/index.php?topic=5522234.0

2025 looks to be a VERY interesting year.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

From $92K to $94K. The bottom is rising… Leverage is being cleared out. All healthy signs of a strong market. Stay away from leverage and keep stacking. These orchestrated events by exchanges to liquidate their over-leveraged users should be considered a gift to the rest of us.

[heslo]

A lot off topic but had to share with someone cos I'm trying to stay strong for my wife at the moment. Children for us are off the cards due to medical reasons so we've got two beautiful dogs. Unfortunately, our eldest, Nismo, well he's fallen very ill and in a few hours barring a miracle I'll likely be saying goodbye to him for the last time. Back in 2020 he had to have spinal surgery which cost a lot of money (would spend it again in a heartbeat) and BTC helped him there too. Sadly, doesn't look like money will solve the problem today.

If you have dogs, hold them extra tight for me tonight, they really are the greatest gift and best friend. I truly am lucky to have had his light shine on our lives for the last 14 years. I'll post a picture of him later just so everyone can appreciate him and how amazing he was/is

Anyway sorry for the off topic but yeah.... I'm just heartbroken

[JayJuanGee]

So… El Salvador just found 3 trillion dollars worth of gold and Nayib Bukele is saying they’re going to dilute the hell out of the gold market while insinuating that they’ll spend the money on buying Bitcoin. Not sure this passes the sniff test, but if true it could propel Bitcoin into the millions easily…
https://x.com/nayibbukele/status/1866245123786326271

mmm nice lets cross our fingers for it to happen.

@ jjg I will always keep some. as time goes on I will likely stop mining. but coins should have big value when I do that.

At least 7 digits a coin.

There are various ways to project out according to both time and price, and to assure yourself that you will never run out of bitcoin, and surely your idea about keeping some is pretty vague, but I suppose you consider that to be a way that you are progressing in regards to how you are planning to make your various BTC sales at various price points and/or with the passage of time.

[edited out]

Be honest. You couldn’t stop mining if you wanted to. It’s beyond habit at this point.

Truly mining is something that elderly people can do... so yeah, have to take Phil's "stopping mining" representation with a decently good-sized grain of salt.

[edited out]

probably true I will just mine on.

There we have it.  Asked and answered.

Demand has to catch up with price, and you are correct that perceived value has to catch up too.

Just because bitcoin has an addressable market and monetary capacities that cause it to be around 1,000x or more valuable than gold, that does not mean that we wake up tomorrow and BTC prices are $900 million per coin. It takes time to get from $100k per coin to $900 million per coin, just as it has taken nearly 16 years for bitcoin to get from $0 to $100k or maybe more realistically (let's not count the first 3 years) nearly 13 years for bitcoin to get from $5 to $100k per coin.

Yes you are very correct!
But Let's consider some factors that surrounds bitcoin currently and the reason for the exponential growth above expected, and if we say it would take time then it's not getting the attention needed and to me which I think as days passes by the more visible and known (more demand increases, more people acquires it) if it took up to nearly 13 years as you said then I would say due to the rapid interest in some institutions and such as blackrock, fidelity and couples with the just elected Us president who is now bitcoin friendly wouldn't take much time for bitcoin to double it's price on a shorter range, do I say we forget about the ETFs as well? No!
All these will sharpen the edge of bitcoin for faster rise above the 13 years past. Maybe in less 5.9 to 6.6 years Bitcoin would gain the price and the attention it never gained since everly created.

To sum it up; the past 16 years was a year of seeking for attention, now it has gained the attention required and it wouldn't take that long for incredible things things to happened. Therefore I am on the hodl lane.

I don't mind your seemingly bullish sentiment, but you are seeming to suggest that I am not bullish enough in my characterizations of where we are as compared to where we might be going.

You are not saying that we are going to arrive at $900 million per bitcoin in the next 5.9 to 6.6 years, are you?

I am not emphatically perpendicularly saying that you aren't bullish enough, I am just characterising the market based on the recent attention gained so far, but what more?
If you have overly generalized the market from the past historical data on how it should then what I give may not seems to evenly emerged as a resulting edge of it. But however, I give my speculation in respect to the sudden surge even though there seems to be correction which would later or either stagnate the price or as a form of resistance between the market, there would definitely be a force (positive news such as more ETF) would drive the market. However, I am not in any point saying it would surge to 900m or even $1m but we still can't undermine the possibility in the space, and still there was no official announcement that it would hit 100k+ by this year.

Oh gawd...    Who is going to make an official announcement? 

Each of us has to figure out these kinds of things for ourselves and to prepare ourselves accordingly.

Many of us in this thread and others have been either stacking bitcoin as aggressively as they can, or they have been otherwise mostly maintaining their BTC stash with an expectation that the bitcoin is going up, even some guys were expecting $100k by the middle of the year (referring to 2024), so we shouldn't be surprised by $100k and we also should not be surprised by $1million by the end of 2025, even though we will be and there will be a bit of shock, yet there will be guys who would not even sell very many of their BTC, merely because it were to go to $1million in 2025, which by the way at this time, I would probably place at less than 4% odds... yet even if the odds are less than 4%, embarrassingly so, I already have pretty good ideas regarding approximately how much BTC I would end up selling at various points along the way (and it would likely not even be large portions of my stash.. help help help.. Maybe I will come up with some ideas in regards to how to spend more than what is already outlined in a tentative possible plan.

So I am as well, and who knows the resulting moment from now but we are all optimistic about the price that surely 150k -250k is possible and it wouldn't be that much difficult to achieve its price with the sudden break out and higher support it has everly gained so far than the previous years.

You seem to be waffling a bit.  Now you are making less bullish statements as compared with your earlier statements.  I think that the solution is to figure out that there are a variety of possible outcomes, and maybe you could update my chart/table of predictions for various price possibilities, since I had not updated it since December 2021?  Then you might be able to lock in your ideas a bit better rather than waffling in terms of both timeline and in terms of price, when we know that there are a lot of possibilities so that guys can be both surprised and not surprised at the same time when the BTC price moves a lot in one direction or another.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com