Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 1341. (Read 26723999 times)
January 13, 2024, 10:32:18 AM
I noticed this very late but the Lord of the Words vs Platinum Balls aka Ranch Dude wasn't on my 2024 list, at least not outside WO.
January 13, 2024, 10:21:49 AM
First Women's Bitcoin DADA
meeting in Uganda
meeting in Uganda
Shirts are nice. I would buy one in 2x size.
Really, Bitcoin DADA Logo Best.
Very nice Color Shirts...
January 13, 2024, 10:01:20 AM
January 13, 2024, 09:51:52 AM
First Women's Bitcoin DADA
meeting in Uganda
meeting in Uganda
Shirts are nice. I would buy one in 2x size.
January 13, 2024, 09:01:16 AM
January 13, 2024, 08:34:10 AM
First Women's Bitcoin DADA
meeting in Uganda
meeting in Uganda
January 13, 2024, 08:01:16 AM
January 13, 2024, 07:31:30 AM
Is this god candle in the room with us?
It's more like a dog candle...
Most of the time new candles are very important when dog is on top. We have to wait a little longer to understand what kind of candle this actually means because if it goes above 60k then it will go higher very quickly. Now we basically have to optimize how much faster they can go up or down they depend on. At the moment many candles are behaving in such a variety of ways that it is difficult to understand the actual events.
Like a dog is important.
Source.
Mate, i just tried to keep it simple (hint: DOG is GOD in reverse)
Nonetheless, thanks for the laughs
It's important to keep up the fun when the market goes south. 
January 13, 2024, 07:27:07 AM
I set my buys a bit too low oh well
40,404
39,398
Maybe we get these.
Maybe not.
40,404
39,398
Maybe we get these.
Maybe not.
There's this theory by British Hodl that the big buyers are on the sidelines with a few billions waiting for GBTC to bleed out completely. The commission is 1.5% yearly, while the new ETFs have undercut each other and the cheapest of the lot are at 0.15% - one tenth of GBTC's management fee. So GBTC customers will get out of there to get in some cheaper ETF. The buyers are just waiting for this wave of sell orders to reach a price bottom.
Here's the British Hodl guy explaining this in 17 minutes on YouTube: https://www.youtube.com/watch?app=desktop&v=reELJVofC3I
A thank you goes to @cAPSLOCK for pointing me to it.
Who's at 0,15%? Cheapest that i know of is Franklin EZBC at 0,19%
Looks like GBTC had to sell another ~2.000BTC on the 12th or another day of -$88MM outflows, don't have inflow data for the 12th for other ETFs, anyone has a convenient source? There's still over 617k BTC in GBTC hopefully after first week majority would wash trade into other ETFs to save on the fees.
Some of the new ETFs have waived their fees down to 0% with either a temporal horizon (Come in! First year free!) or a capitalization threshold (Come in! Free until we reach x billions). The linked video details some of them.
January 13, 2024, 07:22:53 AM
some proposals for a new poll:
Which BTC price will be reached first, 50k or 40k?
What is the Bitcoin price at halving date?
What is the highest Bitcoin price until halving date?
Will we have new ATH before halving?
40KWhich BTC price will be reached first, 50k or 40k?
What is the Bitcoin price at halving date?
What is the highest Bitcoin price until halving date?
Will we have new ATH before halving?
55K
No
People have already started selling the news
Is to be expected
There should be a minor recovery on sunday but overall bearish at the moment.
Bullish in the coming weeks,month and years.
Well there's no need to really panic though
Its just for the short term
Every dip i see now is an opportunity to increase my portfolio.
I dont believe we were only accumulating for ETF
The correction was long expected
The market corrects after a major pump.
In coming days weak hands would leave, while stronger hands accumulate
To be sincere once the recovery starts 60K would have been possible before the halving if not for the psychological barrier around 60K
But we accumulating for the halving.
January 13, 2024, 07:19:38 AM
January 13, 2024, 07:01:20 AM
January 13, 2024, 06:06:42 AM
Is this god candle in the room with us?
It's more like a dog candle...
Most of the time new candles are very important when dog is on top. We have to wait a little longer to understand what kind of candle this actually means because if it goes above 60k then it will go higher very quickly. Now we basically have to optimize how much faster they can go up or down they depend on. At the moment many candles are behaving in such a variety of ways that it is difficult to understand the actual events.
Like a dog is important.
Source.
January 13, 2024, 06:01:16 AM
January 13, 2024, 05:07:07 AM
May look like a Bart, but it's just 2k bitcoin Grayscale dump on Coinbase followed by a leverage liquidation.
Gary knew what he was doing when he demanded cash creation and redemption.
This is different from normal bear market crashes because this money is coming back to bitcoin. It's actually a great opportunity to buy because it's a planned dump where they have to sell to be able to convert their trust. One of the greatest bear traps of all time if you ask me.
Gary knew what he was doing when he demanded cash creation and redemption.
This is different from normal bear market crashes because this money is coming back to bitcoin. It's actually a great opportunity to buy because it's a planned dump where they have to sell to be able to convert their trust. One of the greatest bear traps of all time if you ask me.
Well this would explain the high selling in past few days, the only issue I have is that this sell-off has bled into Bitstamp and other major exchanges, currently making it the highest selling volume on 3D chart since November 2022 capitulation. While that was the low in the market, this sell-off has come from a top in the market, and end of week will be a massive bearish gravestone doji if price closes below $44K.
I understand the concept of it being a bear trap, as price could reverse back to the upside when the selling subsides, however part of me feels like the damage has already been done long-term. That of printing an incredibly bearish red candle, given it's the first time in over a year where there is a strong bearish signal - the whole of 2023 never had a realistic bearish signal, only dips and a bit of FUD here and there.
I think short-term likely this will be a bear trap, similar to June 2019, where there was the massive gravestone doji with a -20% wick, and price pumped back to retest resistance over the next two weeks.
Always in the back of my mind is that price has moved from $30K to $48K with zero dips testing support. This means price can return to $30K with ease, as there was no support created on the way up.
There's this theory by British Hodl that the big buyers are on the sidelines with a few billions waiting for GBTC to bleed out completely. The commission is 1.5% yearly, while the new ETFs have undercut each other and the cheapest of the lot are at 0.15% - one tenth of GBTC's management fee. So GBTC customers will get out of there to get in some cheaper ETF. The buyers are just waiting for this wave of sell orders to reach a price bottom.
Here's the British Hodl guy explaining this in 17 minutes on YouTube: https://www.youtube.com/watch?app=desktop&v=reELJVofC3I
A thank you goes to @cAPSLOCK for pointing me to it.
Here's the British Hodl guy explaining this in 17 minutes on YouTube: https://www.youtube.com/watch?app=desktop&v=reELJVofC3I
A thank you goes to @cAPSLOCK for pointing me to it.
Hard to follow this guy. He thought there would be a month delay in approval and launch of ETFs, despite it was well documented that the launches would likely be the following day. He also thought a "god candle" was going to occur once the ETF launched, which to me just seems completely daft. It's rare this happens when ETFs launch, as it takes time to build up liquidity and confidence in these products.
He also thinks he was "wrong but correct"; which is classic YouTube speak that can be translated into "being wrong but trying to maintain some credibility at the same time". This guy is an avoid for me.
January 13, 2024, 05:01:15 AM
January 13, 2024, 04:52:17 AM
According to Skybridge Capital founder Anthony Scaramucci (speaking on Bloomberg TV):
Generally bullish for 2024.
Reasons for current price drop:
A lot of selling from Grayscale Bitcoin Trust, swapping to lower-cost ETFs.
Bankruptcy estate for FTX unloading into the ETF announcement.
Wall Street hasn't been able to market the ETFs yet.
Competition between Bitcoin ETF providers:
BlackRock & Fidelity will likely emerge as the dominant players.
Other key points:
First ETFs based on an asset with fixed supply: endless demand!
Upward trend will likely resume in 6 to 8 trading days.
Bitcoin market cap at $7 trillion (half of gold's) by 2030.
[Source]
Generally bullish for 2024.
Reasons for current price drop:
A lot of selling from Grayscale Bitcoin Trust, swapping to lower-cost ETFs.
Bankruptcy estate for FTX unloading into the ETF announcement.
Wall Street hasn't been able to market the ETFs yet.
Competition between Bitcoin ETF providers:
BlackRock & Fidelity will likely emerge as the dominant players.
Other key points:
First ETFs based on an asset with fixed supply: endless demand!
Upward trend will likely resume in 6 to 8 trading days.
Bitcoin market cap at $7 trillion (half of gold's) by 2030.
[Source]
Hopefully this Scaramucci is talking a lot of sense and not just doing a fandango.
January 13, 2024, 04:04:22 AM
According to Skybridge Capital founder Anthony Scaramucci (speaking on Bloomberg TV):
Generally bullish for 2024.
Reasons for current price drop:
A lot of selling from Grayscale Bitcoin Trust, swapping to lower-cost ETFs.
Bankruptcy estate for FTX unloading into the ETF announcement.
Wall Street hasn't been able to market the ETFs yet.
Competition between Bitcoin ETF providers:
BlackRock & Fidelity will likely emerge as the dominant players.
Other key points:
First ETFs based on an asset with fixed supply: endless demand!
Upward trend will likely resume in 6 to 8 trading days.
Bitcoin market cap at $7 trillion (half of gold's) by 2030.
[Source]
Generally bullish for 2024.
Reasons for current price drop:
A lot of selling from Grayscale Bitcoin Trust, swapping to lower-cost ETFs.
Bankruptcy estate for FTX unloading into the ETF announcement.
Wall Street hasn't been able to market the ETFs yet.
Competition between Bitcoin ETF providers:
BlackRock & Fidelity will likely emerge as the dominant players.
Other key points:
First ETFs based on an asset with fixed supply: endless demand!
Upward trend will likely resume in 6 to 8 trading days.
Bitcoin market cap at $7 trillion (half of gold's) by 2030.
[Source]
January 13, 2024, 04:01:17 AM
January 13, 2024, 03:01:16 AM
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