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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AlcoHoDL]

Six digits again,
Then back to five, then sideways.
Nothing to see here.

Rickey said it best:
"Luck is design's residue."
Thanks, Branch, we get it!

The higher it gets,
The more we want it to rise.
Laura can explain!

Germany selling.
Biden dumping Silk Road corn.
Karma dynamics!

Canned Sweet Corn Kernels.
The finest ingredients.
No conservatives!

Salt bad. Sugar bad.
I might as well stop eating.
You only live once!

Don't be like grandma,
Or that stupid guy from Wales.
Your seed is your corn!

#7wodigestsundayhaikus

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

Feels like we've consolidated above the $91K level and held off a few bear attacks.  I think that's extremely positive and a move up could happen at any time now.  I don't think we're going to break into the 80s like everyone seems to think due to how strong the bottoms have been getting bought.  I believe we'll see a new all time high by the end of March and be back in price discovery mode by summer.  We'll see though.  A lot of things happening in the traditional economy as the Fed tries to complete a soft landing.  Feels a lot like late 2007 to me in that regard, but inflation is different this time and I think that may backstop some real estate losses for banks to keep the entire economy from crashing.  I think it will take a 2008 style crisis to stop the train here, otherwise we'll all be celebrating again soon.

[JayJuanGee]

HOLDING BITCOIN

Cited for visability.

Sure.. Could be.

Let’s clear out the last remaining weak hands before price discovery and new all time highs.
@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.
https://x.com/misterrcrypto/status/1878417392839131482

I hate to be a doom and gloomer (or a party poop), and sure we are not in 2018 no more (and we seem to be inclined up rather than down, even though not easy to know in advance), but bitcoin did not break below $6k until after it had tested the $6k bottom around 6 times, so multiple times testing the bottom does not mean that it won't end up breaking to the downity.. and in the 2018 case, bitcoin prices largely stayed in the $3,200 to $4,200 price range for about 4 months prior to largely breaking back above $4,200 and returning to mostly supra $6k prices.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

partially OT: other markets

A pretty good explanation for "bear steepening" in bonds, which also explains the recent stock decline:
https://www.wsj.com/finance/investing/a-bond-selloff-is-rocking-the-world-you-might-want-to-take-the-other-side-ab1356c3
(not sure if it would be behind the paywall or not, but it wasn't for me)

[aesma]

Let’s clear out the last remaining weak hands before price discovery and new all time highs.

@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.

https://x.com/misterrcrypto/status/1878417392839131482

I was trying to price in bitcoin mining hosting yesterday and found out that it is economically unfeasible with current cost of production of about 70K/btc and even used machines (S21) cost being close to $5K. Therefore, mining is only for low cost producers aka large companies, unless you want to acquire less btc (then in the outright purchase) and maybe even lose $$ in the end.

Basically, buying the dip (or ETFs for those with no current skill/knowledge) is the only option.

I've earned my whole stash from mining, and lost half my stash mining, so I'm not giving any advice, but depending on what the price will do, how you get your electricity, how you get your money, it can make sense.

[Biodom]

Let’s clear out the last remaining weak hands before price discovery and new all time highs.

@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.

https://x.com/misterrcrypto/status/1878417392839131482

I was trying to price in bitcoin mining hosting yesterday and found out that it is economically unfeasible with current cost of production of about 70K/btc and even used machines (S21) cost being close to $5K. Therefore, mining is only for low cost producers aka large companies, unless you want to acquire less btc (then in the outright purchase) and maybe even lose $$ in the end.

Basically, buying the dip (or ETFs for those with no current skill/knowledge) is the only option.

I've earned my whole stash from mining, and lost half my stash mining, so I'm not giving any advice, but depending on what the price will do, how you get your electricity, how you get your money, it can make sense.

True that, but rn S21 produces $10.82 a day with cost of a used machine $4750.
Buying that $10.82 in btc a day now (and continuing with buying daily $ production of S21) is PRONE to make out better than mining on that machine (unless the price spikes tremendously and you would make money by just reselling the machine at 2-3X...that happened before). The latter is an exception, of course.

[xhomerx10]

partially OT: other markets

A pretty good explanation for "bear steepening" in bonds, which also explains the recent stock decline:
https://www.wsj.com/finance/investing/a-bond-selloff-is-rocking-the-world-you-might-want-to-take-the-other-side-ab1356c3
(not sure if it would be behind the paywall or not, but it wasn't for me)

 It was for me but not for long:

https://archive.ph/SLuZV

[philipma1957]

Let’s clear out the last remaining weak hands before price discovery and new all time highs.

@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.

https://x.com/misterrcrypto/status/1878417392839131482

I was trying to price in bitcoin mining hosting yesterday and found out that it is economically unfeasible with current cost of production of about 70K/btc and even used machines (S21) cost being close to $5K. Therefore, mining is only for low cost producers aka large companies, unless you want to acquire less btc (then in the outright purchase) and maybe even lose $$ in the end.

Basically, buying the dip (or ETFs for those with no current skill/knowledge) is the only option.

I've earned my whole stash from mining, and lost half my stash mining, so I'm not giving any advice, but depending on what the price will do, how you get your electricity, how you get your money, it can make sense.

True that, but rn S21 produces $10.82 a day with cost of a used machine $4750.
Buying that $10.82 in btc a day now (and continuing with buying daily $ production of S21) is PRONE to make out better than mining on that machine (unless the price spikes tremendously and you would make money by just reselling the machine at 2-3X...that happened before). The latter is an exception, of course.

having done dca and mining.

mining makes less more often than dca.

but in any given short time period mining could work better.

[aesma]

Thanks @vapourminer for making me Legendary !

Let’s clear out the last remaining weak hands before price discovery and new all time highs.

@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.

https://x.com/misterrcrypto/status/1878417392839131482

I was trying to price in bitcoin mining hosting yesterday and found out that it is economically unfeasible with current cost of production of about 70K/btc and even used machines (S21) cost being close to $5K. Therefore, mining is only for low cost producers aka large companies, unless you want to acquire less btc (then in the outright purchase) and maybe even lose $$ in the end.

Basically, buying the dip (or ETFs for those with no current skill/knowledge) is the only option.

I've earned my whole stash from mining, and lost half my stash mining, so I'm not giving any advice, but depending on what the price will do, how you get your electricity, how you get your money, it can make sense.

True that, but rn S21 produces $10.82 a day with cost of a used machine $4750.
Buying that $10.82 in btc a day now (and continuing with buying daily $ production of S21) is PRONE to make out better than mining on that machine (unless the price spikes tremendously and you would make money by just reselling the machine at 2-3X...that happened before). The latter is an exception, of course.

On the face of it it doesn't look good right now for sure.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Ivystar5]

Let’s clear out the last remaining weak hands before price discovery and new all time highs.


@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.

When WO says weak hands and I know I haven't bought enough to be among the other hands.

Just sold my wife's BMW X1 probably buying with all of that but she might freak out if she knows about this plan.  

[Biodom]

Let’s clear out the last remaining weak hands before price discovery and new all time highs.


@mistercrypto
Bitcoin is making a textbook triple bottom price pattern now.

I'm buying the dip.

When WO says weak hands and I know I haven't bought enough to be among the other hands.

Just sold my wife's BMW X1 probably buying with all of that but she might freak out if she knows about this plan.  

That's some risky move, pal, respect!
 

[Ivystar5]

That's some risky move, pal, respect!
 

She's pregnant   more risk.......

I thought WO members risk takers

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AlcoHoDL]

Thanks @vapourminer for making me Legendary !



[...]

Congrats man. Well deserved!

[WatChe]

Well if my belief that the powers to be will melt the ice. By 2100 -2125 a shit ton of people will die.

Maybe a few billions.

I don’t think everyone will die.

Since I date back to a time when the world had under 3 billions I can assure you the world can work with 2 or 3. billions vs 8 billions.

As to what you can do to protect yourself and loved ones I don’t know what to say. For me and my wife thats my list of loved ones. I likely will bet that we die of old age before 2055. I would be 98 and she would be 99.

Kind of sucks to think this way but its what I got.

Well if world can work with 3 billion then it can work with even 1 billion or less. Human life started with Adam and Eve (I don't know about other religions but that's what we Muslims believe), everyone came after that.
I have wife, kids, sisters and few more in my list of loved ones and I fear what my kids will find on this planet once they grow up

[JayJuanGee]

partially OT: other markets

A pretty good explanation for "bear steepening" in bonds, which also explains the recent stock decline:
https://www.wsj.com/finance/investing/a-bond-selloff-is-rocking-the-world-you-might-want-to-take-the-other-side-ab1356c3
(not sure if it would be behind the paywall or not, but it wasn't for me)

It was for me but not for long:
https://archive.ph/SLuZV

Some financial institutions and even registered investment advisors do not have a lot of flexibility in what kinds of allocations that they can make and/or if they might have to reallocate from their shitty assets (investments) such as bonds, so then anyone able to buy bitcoin or to get exposure to bitcoin, even  including some of them can potentially squeeze something like bonds in their portfolio through buying MSTR bonds, yet in any event, most traditional (safe or dollar based bonds) have been getting their lunch eaten for a couple of years, including a kind of cascading effect in regards to if some people get out, then it might be worse for those who are sticking with bonds or not finding a way to get out of bonds.

Many of us bitcoiners have way more flexibility in regards to what we do, what we get into and not being required to reallocate from our winners (something like bitcoin) and back into our losers (something like bonds).

Another kind of ironic thing that many of us bitcoiners have likely been witnessing for years is that financial advisors tend to either not recommend bitcoin or they recommend towards products that they have available (ETFs coming available to some of them), so frequently they would not recommend bitcoin or anything related to bitcoin and they would also recommend reallocating within the same kinds of restrictions that they have - otherwise we end up way outperforming them when we are both allowed to invest into bitcoin but to keep our investment in bitcoin when it is shown as a winner and we are finding out that their various restrictions are seeming to purposefully hamper their performance while trying to prop up the dollar.

Some of us have known these dynamics for a while, yet so many are finding ways to get exposure to bitcoin and some are also learning that they might not want to reallocate out of bitcoin when it is shown to be a winner - even though these kinds of changes are not happening rapidly, including that many RIAs and even pensions and 401ks are still not even offering bitcoin related products, such as spot BTC ETFs, and so I doubt that bonds are going to be doing very well for a while especially if they are cash based bonds, unless maybe they have some kind of a bitcoin component within them.

Well if my belief that the powers to be will melt the ice. By 2100 -2125 a shit ton of people will die.
Maybe a few billions.

I don’t think everyone will die.
Since I date back to a time when the world had under 3 billions I can assure you the world can work with 2 or 3. billions vs 8 billions.

As to what you can do to protect yourself and loved ones I don’t know what to say. For me and my wife thats my list of loved ones. I likely will bet that we die of old age before 2055. I would be 98 and she would be 99.

Kind of sucks to think this way but its what I got.

Well if world can work with 3 billion then it can work with even 1 billion or less. Human life started with Adam and Eve (I don't know about other religions but that's what we Muslims believe), everyone came after that.
I have wife, kids, sisters and few more in my list of loved ones and I fear what my kids will find on this planet once they grow up

I imagine that this here planet can probably work with 30 billion or more, too, so I doubt that the fear of people and consumption is as perilous as many folks seem to make it out to be... but what do I know?  I am largely guessing.