Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 1183. (Read 26610095 times)

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It seems that the situation is getting from bad to worse by each hour. This is not a normal trading, so to speak of any support line is pointless. The support is when the last bitcoin of Greyscale will be sold. I won't be surprised if we see covid like apocalyptic dump. Too bad I don't have any fiat left to buy moar. I guess the plan is to keep the rate 1.5% until the BTC outflows stop. And then lower it to 0.3%. But people are not so stupid to return to Greyscale knowing that they will raise the rate again. So, instead of leading the parade to 100K, Greyscale chose to be the new far more ominous MtGox. Well, it seems that we have to wait a bit longer to see 100K. Honey badger doesn't care.

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He has 500.000+ coins ready to dump.

This is even worse than MT Gox + FTX combined.

Won't be surprised if price will bleed towards $20k - $30k

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Fucking Barry Shillbert can't stop dumping... Retarded mother-fucker...

Don't worry about the price drop. Any seasoned HoDLer knows that this can happen.

Remember: Halving in 3 months -- ETFs approved -- Such economic processes often have long dead times.

Don't act like mindrust -- we all know better than this.

In my book, 0.1% per day is huge! If they keep this up for a while, especially with the oncoming halving, the scarcity will be felt. And once the scarcity is felt, prices must go up.
Unless of course those ETF guys are going fractional reserve Bitcoin, but that would be Madoff level and I don't think they're willing to take that risk.

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I bet you're right regarding that short attention spans, at least it feels plausible, as far as i can compare with my observations of "close" society.
But: The dynamics behind this behaviour is also able to be explained by (lack of) impulse control and also extrapolation of short-term events onto the mid to far future.
Extrapolation in the means of, for example, a short dip not bought up within a day or two seems to project fearful thoughts between "we're going down moar, soon" and "the whole BTC bubble will pop, soon" in more than just some individuals. While i know these fears personally from my own past, they were always cured by zooming out and remembering myself about the timed market cycles. My impulse responses almost always led me to the wrong decisions, in hindsight. I have to admit though, that i suffer from impulse control disability to a good degree, but i have learned to manage it through awareness and discipline. Two things you can't really expect from a good part of market participants. Becoming a Bitcoiner was awfully accelerating that learning process, to be honest.
On the other hand, short term up's seem to ramp up the number of longs through greed and fomo, and those seem to be liquidated very often when the FOMO is correcting shortly afterwards. I was keeping my hands off leverage for a reason and it was good that way  

EDIT: After thinking over my reply, i guess it's mostly the YOLO (which, in my opinion is half way mistunderstood, see below) society that is prone to impulsive decisions.

And YOLO, the term for "don't care about the future", is in fact a very precious concept, when you look at it the yin-yang way:
There are times you should not care too much about consequences of your decisions, resulting in missing out opportunities you can take only one time in your life.
But there are times, you should indeed care about such consequences, because these could degrade or prematurely end the one precious life you have been born into.
So, YOLO advises one to weigh the importance of the now gainst of that of the tomorrow. That's the way i understand it.

A better term to replace (the half way misunderstood) YOLO! in a more meaningful way would be "Live fast, die young", as we said in the old times  

Enuff of the offtopic now  


I started to build these kind of reserves too, recently.
Just pointed that out a page three pages back or so...

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i have emergency fiat stashes i keep for occasions like this

I love how you are referencing Bitcoin as a living/breathing organism!… reminds me of my early days working at a clients operation, you could stand back and just watch the place run, better than a well oiled machine…

But you are right, short term views seem to have a greater impact on people choices. Maybe it’s due to the fact attentions spans are being decimated to quarter mile times! I blame tiktok/IG Reels and YT shorts!

Those sell walls look like steps.
While coins down a little I'm looking to earn some if y'all got any task or anything yall'd like to remotely outsource shoot me a pm.

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Always funny how a long term developing taxonomy is being evaluated from a short term view, regarding that 0,001% tweet 
It seems like the old "It's a bubble" narrative from 10 years ago managed to hold up.

Make that $1.06B as of the 17th January 2024

+$300M in 1 day…

Upswing will come, in the meantime HODL strong and BTFD!

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