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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 290. (Read 26497846 times)

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[edited out
Right there with you ambatman. I'd set some lofty but achievable goals back in 2021 about where I wanted my stack size to be by mid point 2025. I'm at that accumulation point now, where I have exceeded these goals a year early. I definitely feel a little bit like I will have over accumulated by mid 2025, but I'm continuing along with my plan. I'm in it for long haul, and so far so good.

It seems like similar things happened for me in regards to setting various goals and then reaching them earlier than expected, and surely some of the goals ended up changing along the way which was likely based on learning along the way.

It likely is not bad to get to a point of reaching your goal and then overaccumulating to some degree, especially since you had been spreading your BTC accumulation over a whole 4 year cycle..  .. yet there might be some tailoring that you might end up planning on doing, yet for sure we cannot really be sure what the BTC price is going to do for the remainder of this year or next year...even though we have some ideas, so I would imagine that you have already accounted for the theories regarding what might happen and then other aspects of what ends up happening to the extent that it might end up varying from expectations.

Even for me, I think that I had some dilemmas when I was enterring into a state in which I realized that I had enough BTC which was late 2014, yet I could not really resist continuing to buy more throughout 2015 and even into 2016.. but then I think that I kind of started to figure out ways to transition into a different kind of thinking by the time 2017 came.. so each person has their own little transitioning points...and maybe some personal tweaks that you might make to whatever you are doing in regards to accumulation/continuing to accumulate or perhaps getting into some kind of a maintenance stage - which can also vary for guys.


Its a nice feeling getting there a bit earlier, I have a pretty good plan from now until end of the year. Will re-asses again closer to Dec as I plan out next year. The over accumulation though gives me some buffer, the one decision I need to make though is whether i transition to maintenance or keep accumulating. I haven't quite got there yet, but I am thinking about it. Tentative timeline to make a decision is to overaccumulate to end of 2025, then during my Dec 2025 planning transition. As of now though I could easily talk myself into starting another accumulation phase post 2025, but we will see what happens.


Whenever choppiness comes up in the price, I always go back to the 200 WMA and go are we uppity,downity or matchity to it so there is some comfort here at the moment with 34k 200 wma vs 56-62k short -term range we are in now.

I am not sure where you are finding your 200-WMA, but all the places I see the 200-WMA, it is just above $38k, currently. 

https://bitcoindata.science/withdrawal-strategy

Surely we should be able to have some reliance on the 200-WMA as a kind of bottom.. even though surely we know that it can be broken through from time to time, and we still have to witness more time with the BTC price staying close to it for longer periods of time in the future if the BTC price might start to go up slower or less fast (maybe bitcoin getting out of its earliest stages of adoption and the price slope becoming less steep with the passage of time), and through bitcoin's history, the 200-WMA has continued to go up and BTC's spot price has tended to mostly stay above it, even tending to be more than 50% above it as it is right now right in that price territory...

My bad I typo'd that WMA #, I was thinking of the number but my kb fingers decided an alternative one. Ultimately for me personally the WMA is  a nice barometer, not just as a bottom indicator but as strength in the market. Next 6 months should see an increase in the rate of change w/w  in WMA as per the 4 yr cycle, so thats something I'm watching week to week. Whether it does, or slow down or whatever happens, will be using that data for decision making when the time comes.



@Greyhats: Immediately stop your BTC accumulations!!!!!, and don't go into an overaccumulation status.. it is not worth it.. Ask Phil.. He knows everything (or almost everything.. that's why you probably already have more BTC than him..., which should be the opposite. hahahahahahaha).


Oh noooooesssss what will i do!  Grin

legendary
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Doomed to see the future and unable to prevent it
I believe the price is affected by sentiment. However, miners have the sentiment that they want to sell for their energy costs plus a good profit so mining does affect the price through secondary effects. Price also affects mining so there is a feedback loop there too.

This may have been true at one point but not so much anymore. There is lots of inflows from people who don’t watch or care about the day to day activities of Bitcoin. The price is affected by real world buying and selling. Right now there are a lot of BTC to be sold, so the price is depressed. When that stockpile is no longer selling, the price will rise.

Bullshit, its affected by fuckery and its just bigger fish doing the fucking.
donator
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Leading Crypto Sports Betting & Casino Platform
I believe the price is affected by sentiment. However, miners have the sentiment that they want to sell for their energy costs plus a good profit so mining does affect the price through secondary effects. Price also affects mining so there is a feedback loop there too.

This may have been true at one point but not so much anymore. There is lots of inflows from people who don’t watch or care about the day to day activities of Bitcoin. The price is affected by real world buying and selling. Right now there are a lot of BTC to be sold, so the price is depressed. When that stockpile is no longer selling, the price will rise.
legendary
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BTC + Crossfit, living life.
legendary
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation
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legendary
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Kamala Harris proposes ~45% long term capital gains tax and an additional 25% tax on unrealised capital gains for rich people.

God bless America.

Looks like RFK Jr will endorse Trump to help stop the Wicked Witch of the West.

It shouldn't matter that much, since the polls suggest that most of RFK's voters weren't going to vote (this) Democrat anyway.
legendary
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Go go go

61K in one hour

For what it's worth, most analysts say that a clean (daily, weekly) close above 61-something will liquidate so many shorts that the price pop will be epic. I'd like to see that. Gotta buy some (pop)corn.
legendary
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Explanation
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legendary
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation
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legendary
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legendary
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$120000 in 2024 Confirmed
Go go go

61K in one hour
legendary
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
I believe the price is affected by sentiment. However, miners have the sentiment that they want to sell for their energy costs plus a good profit so mining does affect the price through secondary effects. Price also affects mining so there is a feedback loop there too.
legendary
Activity: 2352
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Explanation
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legendary
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if mining is reduced 100% all the mined coins are stuck and basically have no protection against double or triple spends if two people start to mine.
If mining is reduced 100%, all transactions stop and protection against multiple spends becomes unnecessary.

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reality is you want btc to stay with a high price you need lots of mining.
I agree, but this has nothing to do with the rate of "production", which is basically predetermined and vanishing. You know this.

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gold baseline price is not protected by mining in the same way.
Right. On the contrary, it could be argued that the price is hurt by mining.
legendary
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Is it also possible that the bitcoin somehow goes to zero someday? Like how it could even possible?

YOU SHUT YOUR WHORE MOUTH!
legendary
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legendary
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Well this is Going to affect investment and savings in the country.


We are definitely going to see a CGT increase here in the UK most people claim at the end of October in the new Labour budget.

But at 45% that type of punishment would simply destroy the incentive to realise a gain here in the UK:

A good critique why it wasn't proposed before the elections
https://www.rsmuk.com/insights/weekly-tax-brief/why-labour-are-not-raising-capital-gains-tax-rates

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Whilst the UK may be an island, the approach of other countries in relation to CGT cannot simply be ignored. A CGT rate of 45% would be one of the highest in the world and nearly every country in Europe could inadvertently become a more attractive place than the UK to crystallise gains. It is little wonder that a CGT rate rise does not appear in the Conservative and Labour manifestos and there are good reasons why they may be keen for that to remain the case.

Personally I think an increase to 25% (same as corporation tax), 28% (current investment fund rate) or at worst 30% with no exemption allowance amount is more likely.

I can live with that on any future BTC realised gains even though I still think it's disgusting theft by a bunch
of tyrannical MF'ers.

Any more CGT or the notion of aligning it to income tax (which means you pay those levels on your income and then also
on any gain from investments from the money left over that was initially already taxed!), for most rich people it would mean indeed 45%:
Well, I'd simply relocate.

OR I can simply not work, and make sure I only realise up to £50K profit every year, meaning you still only pay 20% (the current CGT rate for crypto and Income Tax rate up to that level).

45%, no chance. I'd rather be poorer at £50K (=£40K net) per year.
sr. member
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Is it also possible that the bitcoin somehow goes to zero someday? Like how it could even possible?
Anything is possible. The price of Bitcoin is determined by the forces of Demand and supply.
So if all buyers and sellers believe the price of Bitcoin is $0
Then it would be, but the thing is if
Meaning it's almost infinitely impossible for it to go to zero currently.
Falling is possible but Zero
That's a tough nut to crack.


Is it also possible that the bitcoin somehow goes to zero someday? Like how it could even possible?

Lots of zeroes with a one in front of it.
This has an higher likelihood than it hitting Zero.

Edited out

Yeah every policy has who's been favoured and who's not.
Everybody can't really benefit, but usually most times the cost of the Tax are been borned by the consumers and workers. On Corporate Tax increase https://edition.cnn.com/2024/08/19/politics/harris-corporate-tax-rate-raise-proposal/index.html


While on increasing capital gain tax and unrealised gain tax
Not an American, but I'm sure policies like this can cause companies to seek other countries that would be favourable to them.



Well this is Going to affect investment and savings in the country.
legendary
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Explanation
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