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

[Phil_S]

Ouch!

Where is that old cartoon where bitcoin crashes to 100k? 

[LFC_Bitcoin]

https://breakingthenews.net/Article/Powell-says-Fed-won't-seek-to-change-Bitcoin-law/63255593#:~:text=United%20States%20Federal%20Reserve%20Chair,seeking%20to%20change%20the%20law.

So Banks aren't allowed to own Bitcoin as reserve and ain't planning on changing that - Powell.
I guess hence the dip


Not to mention many already been sure of a cut, so knowing it was a close call and there may be pause on cut made many react negatively to the news.
Everything should be back in order soon.

Powell said, ‘We’re not allowed to own Bitcoin. The Federal Reserve says what we can own and we’re not looking for a law change. That’s the kind of thing for Congress to consider but we are not looking for a law change at the Fed.’


So what he actually means is that under the current administration, there is no law that allows the Government/Federal Reserve to own Bitcoin. Obviously that could and possibly will change under a much more cryptocurrency friendly Trump administration.

But don’t let that stop lettuce hands from selling their Bitcoin. Some people are such losers and don’t deserve what is coming next year.

Nothing to see here, just a flush out of weak hands and over leveraged longs.

Video of Powell’s response - https://x.com/vivek4real_/status/1869475578853970044

[d_eddie]

Now this could be a perfect Saylor moment, sweeping up sweet corn at a seasonal discount.
Mikey...! Mikeyy come on, dinner is readyyyyyy....

[criptoevangelista]

HODDDDLLL

[d_eddie]

HOLDDDD

Tsk tsk, you misspelled HODL.

[criptoevangelista]

HOLDDDD

Tsk tsk, you misspelled HODL.

True . I already fixed it 

[OutOfMemory]

Those who remember the rides of the past: Have fun! 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

Holy shit just found out a buddy of mine died Nov 3rd, the weird thing is he was a insane trumper and has been frothing at the mouth the last 4 years and he literally died the day after his dream came true.

Sorry for a somewhat OCD remark, but election was on Nov 5...so...he did not live to see the day, not sure if it is good or bad..RIP.

[Ambatman]

Powell said, ‘We’re not allowed to own Bitcoin. The Federal Reserve says what we can own and we’re not looking for a law change. That’s the kind of thing for Congress to consider but we are not looking for a law change at the Fed.’


So what he actually means is that under the current administration, there is no law that allows the Government/Federal Reserve to own Bitcoin. Obviously that could and possibly will change under a much more cryptocurrency friendly Trump administration.

Honestly I see no reason for such comment except to Create FUD.


His job was to Cut interest rate and give excuse why it could be paused in the future.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[pinhead666]

Holy shit just found out a buddy of mine died Nov 3rd, the weird thing is he was a insane trumper and has been frothing at the mouth the last 4 years and he literally died the day after his dream came true.

Sorry for a somewhat OCD remark, but election was on Nov 5...so...he did not live to see the day, not sure if it is good or bad..RIP.

This is actually painful on how dead just come unannounced and take most people away.
This is so sad anyway.. R.I.P to him, take heart bud.

[LFC_Bitcoin]

Strong hands, Wall Observers!

👊🏻👊🏻


@BTC_Archive
This pullback is pretty normal for Bitcoin.
We've had 8 of them since October.

If you are new to Bitcoin:
The price of huge gains is huge volatility.

If you can HODL and wait, you will win.

🙌💎🙌


https://x.com/btc_archive/status/1869499924766916757

[pinhead666]

Strong hands, Wall Observers!

👊🏻👊🏻


@BTC_Archive
This pullback is pretty normal for Bitcoin.
We've had 8 of them since October.

If you are new to Bitcoin:
The price of huge gains is huge volatility.

If you can HODL and wait, you will win.

🙌💎🙌


https://x.com/btc_archive/status/1869499924766916757

Another good chance accumulate some sat to our bags..
This returning effects could be massive. Who knows, we would gain momentum to breakout $110k and $120k. The pullback gives more strength to the market to stand in a more fast rising lane.
Of course Hodling is the best option!

[philipma1957]

honey badger 🦡 was distracted by ms honey 🍯 badger 🦡. He will be back on track. Soon 🔜 112k

[OgNasty]

We didn’t get the strong bounce off the volume spike like I’d hoped we would see. First time the market has shown any real weakness in some time. It remains to be seen if we’ll stay above $100K. It certainly seems like the market wants to dip below it to see what kind of support is on the other side.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[jojo69]

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

It's funny how we getting this shoots and haven't gotten to December yet

TBH I wouldn't get too excited about December.

Yeah we may cross $100K to the upside, but...

...the end of the year has been notoriously not great for bitcoin's price, as traders sell off assets for tax purposes.

Usually starts anywhere from end of November to second or third week of December.

So I expect it to drift down somewhat then.

Not trying to be a Debbie Downer, just keeping it real.

In the meantime, enjoy!