Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 2446. (Read 26712373 times)
February 01, 2023, 08:01:17 PM
February 01, 2023, 08:00:59 PM
It certainly looks like $24,000 will be broken tonight. 
Exactly!
Would be huge if we recover to 25000 so soon after breaking into the new year it could really set up the year and we could seriously start talking about a full recovery by the mid or end of the year. Some good news for once. [...]
Whatever, HODLERS not affected.
Whatever, HODLERS not affected.
Exactly!
February 01, 2023, 07:59:23 PM
Bitcoin price up $24165.
Ascending upwards like a ladder.
February 01, 2023, 07:57:09 PM
^^^first try..."Buy by the barrel gorilla ladders?" 
second "ape into bitcoin ladder by the barrel"
second "ape into bitcoin ladder by the barrel"
February 01, 2023, 07:42:33 PM
February 01, 2023, 07:10:06 PM
20k-35k for 10 years in a row is certainly one possibility.
thanks for killing my buzz man
February 01, 2023, 07:01:23 PM
February 01, 2023, 06:51:26 PM
@jjg..sorry, I am too "beat up" at work this week to post numbers, will try to sum it up sometime during the weekend and/or on Fri...
Yeah well I am prepped for 10 years of sideways motion.
Check what gold did from 1992 to 2001
no reason btc can't do exactly that.
20k-35k for 10 years in a row is certainly one possibility.
February 01, 2023, 06:30:51 PM
@jjg..sorry, I am too "beat up" at work this week to post numbers, will try to sum it up sometime during the weekend and/or on Fri...
February 01, 2023, 06:23:02 PM
@jjg..well, $19,798 is pretty much 20K in my book (according to rounding rules), but it is a minor point....that you seem to be awfully sensitive about.
BTW, the average price of btc between Dec 2017 and today is also quite surprising (not!) $20.3K...how does this reflect on DCA vs bulk purchase debate?
Basically, you could have DCAed weekly since 5 years ago (or 260 weeks) and your average would have been more than btc price just a month ago (only 4wk or 1.5% of the putative DCA time).
This shows, in my opinion, that better strategy in bitcoin is to have a large stash of cash and to wait for more than 60-70% decline from the recent ATH, then pounce at once or in a few big "gulps".
Rounding rules? that is not how it works in economics. Either something has hit $20000 or it has not. You cannot round up values rounding up is only done to estimate something but is not used for speculation because it would skew the numbers to much and any speculation or prediction based on rounding up will be greatly wrong even if they have a good argument. Do not round up unless you are estimating small numbers when it is big numbers like 20000 you will be greatly out of any prediction or analysis. BTW, the average price of btc between Dec 2017 and today is also quite surprising (not!) $20.3K...how does this reflect on DCA vs bulk purchase debate?
Basically, you could have DCAed weekly since 5 years ago (or 260 weeks) and your average would have been more than btc price just a month ago (only 4wk or 1.5% of the putative DCA time).
This shows, in my opinion, that better strategy in bitcoin is to have a large stash of cash and to wait for more than 60-70% decline from the recent ATH, then pounce at once or in a few big "gulps".
economics? 19798 vs 20000 is about 1.1% difference, so, if you don't perform many additional calculations, approximation is fine.
For example, my thesis was that "If in about 5 years (early 2028) bitcoin is 25.5k (now it is 23k vs 20K in Dec 2017, so a similar small rise with lots of down and up volatility in between), would you be content?"
if you replace 20K by 19798, then the appreciation since Dec 2017 until 23K (which was the price at the time of original post) would be 16.17% vs 15% in my calculation.
Perhaps, i should have wrote $26.7K instead of 25.5K in 2028, but it is still within 5%.
The main point was not the exact number , but how we would perceive the situation if it repeats itself in the next 5 years.
BTW, bitcoin price is not an absolute and it did hit 20K and slightly above on some major exchanges.
@jjg thinks that we somehow made an explicit promise to only quote bitstamp, but I don't acknowledge it (no promise on my part).
February 01, 2023, 06:01:18 PM
February 01, 2023, 05:52:47 PM
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Uh, bummer? I guess?
That brought back some bad memories.
February 01, 2023, 05:27:57 PM
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Uh, bummer? I guess?
February 01, 2023, 05:01:18 PM
February 01, 2023, 04:44:05 PM
JUST IN: 🇺🇸 $1.8 billion Burling Bank to become the first FDIC-insured chartered retail bank to offer #Bitcoin buying, custody and rewards 🙌
https://twitter.com/BitcoinMagazine/status/1620833041622142976?t=7jFgqgTNYgL21TnsZnpCrA&s=19
https://twitter.com/BitcoinMagazine/status/1620833041622142976?t=7jFgqgTNYgL21TnsZnpCrA&s=19
February 01, 2023, 04:20:54 PM
February 01, 2023, 04:11:16 PM
It certainly looks like $24,000 will be broken tonight.
Exactly!
[...]
Whatever, HODLERS not affected.
Whatever, HODLERS not affected.
Exactly!
February 01, 2023, 04:04:15 PM
Still ranging, wondering if the recent pump has legs? We’re up over 30% in the last month which is pretty significant. What kind of price confirms the start of a new bull market, maybe $30,000?
I’d like to see us break & hold $25,000. Maybe we need a retest of $20,000 to confirm that $15,500 was indeed the bottom.
So many questions but only answered with time. Whatever, HODLERS not affected.
I’d like to see us break & hold $25,000. Maybe we need a retest of $20,000 to confirm that $15,500 was indeed the bottom.
So many questions but only answered with time. Whatever, HODLERS not affected.
February 01, 2023, 04:01:21 PM
February 01, 2023, 03:01:17 PM
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