Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3374. (Read 26714850 times)

Bitcoin by its nature tends towards fixing the same problems that incited Occupy Wall Street.

It can do that, and grow as sound money, if it is not being fouled up with “WEN LAMBO” nonsense.

Perhaps that graphic is unintentionally appropriate.

I always despised the idea of an ETF, and I have always looked down on anyone who got greedily moon-eyed excited about prospects for that.


Called it!  Well, I don’t deserve credit for this.  The situation succinctly summarized in four letters:

Man, if the dumpening goes on, Jaywick Sands will feel like Monte-Carlo  

That's providing the biggest companies still want to invest after what has just happened and also if they are willing to invest during a recession.

Too bad your TG bot was too... robotic to pick this up, Little Mouse:

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Thanks.  It’s good to laugh.


Best for me would be to spend less time on the forum, unless it is for moneymaking purposes.

If I had devoted every moment and ounce of effort that I have ever spent on this forum to making money, I would now be a whale.  That was a foolish investment choice for allocation of my most precious resource:  My limited lifetime.


I did fine, until I did something that I had previously warned others not to do.


Good thinking.


In March of 2020, I had much more BTC than I have now.  I had the same attitude.  (Insert list of previous crashes.)

But I am ideologically motivated to be in Bitcoin.  It is my primary, dominant motive—even if it conflicts with my financial interests.  That gives me a perspective different than most.


I am not subject to your judgment or anyone else’s of whether or not I have sufficient BTC.  “...a meaningful and substantial stake...”  What is this, POS?

The “no skin in the game” argument applies to those who have significant wealth in fiat, stocks, etc.  Yes, someone who has a big portfolio but only 0.05 BTC can pretty much just fork off!

But you would call me “overinvested” in BTC.  Before you pretend to pass judgment on me or analyze my “tendencies”, please dump your stocks (I don’t have any), cut your central bank shitcoin holdings to the bare minimum needed for short-term living expenses (I live simply, and I have almost no money in the bank—though when I am in wealth-building mode, I like to gather up some Tethers, etc. when that’s advantageous for cashing out to BTC at opportune moments), and figure your personal net worth in BTC as a unit of account.

Even with less than 0.05 BTC, I am drastically “overinvested” in BTC as % of all the money and investment assets that I have.

I do have an incentive now to hope for BTC to stay low for awhile, so that I can obtain more of it—preferably, at least as much as I recently had.  That is no different in principle than WOers who are hoping for BTC to stay low until their next paychecks (or whatever), so they can DCA down.  It is quite different from nocoiners/ex-coiners who hope for BTC to fail.  And I have always enjoyed bear markets, even when I had much more BTC than now.  Divide the wheat from the chaff, give LTH the opportunity to accumulate more while there is blood in the streets.  My personal “greed and fear” index is wired to the opposite of most people’s.


That, in itself, is a damn fine idea.  For reasons quite other than “asshole tendencies”.

I have a sort of life focus on Bitcoin.  I want to have me some more of those bitcoins, instead of just watching others have more of them while I pray for Bitcoin to overthrow the corruption of the banking system.  Monetary ideology is unusual this way:  It is a type of idealism that is directly undermined by having too little greed.

In most ideologies, one can be quite credible (perhaps even more credible) being poor as a monk.  Not in Bitcoin.  For better or for worse.


No.  It would apply for most people; you don’t know me.  Nonetheless, I absolutely should stack up some bitcoins.  For my own self-interest, not to meet your criteria or anyone else’s for “stake”.  Again, what is this POS type of talk?

A very large proportion of my investment/savings assets are in Bitcoin (and I am now awaiting favourable market conditions to liquidate some other things to Bitcoin—it would be shooting myself in the foot right now).  That puts my money where my mouth is.  I simply don’t have much money.

I damn should make myself some bitcoins, for my own sake and no one else’s.  Preferably, I should like to be rich—especially after all this!


If I didn’t think of these kinds of matters, I would not have any BTC at all!  “Those kinds of matters” were the motive that first brought me to Bitcoin, and these matters will always keep me holding BTC no matter what.  I did NOT buy in to see “number go up”.  I learned about that after I already had BTC.  Once upon a time, I somehow managed to spent years on this forum blissfully avoiding Speculation, before I even learned that the Wall Observer existed (sorry, you are not as famous as you think).  I still have the same essential attitude, and I always will.

I don’t need laser eyes graphics or other memes, for my own personal use.


Thanks, but I was doing just fine until I did something that I had previously warned others against.  Although I do highly respect the intelligence and the market instincts of some of the die-hard regulars here, I do not need a WO mentor.

I will do much better now, if/when I fork off and ignore WO so I can get some work done.  The market has been a perpetual distraction to me, since I have been forced to pay attention to my liquidation risk.  Now that I can ignore the distraction of short-term BTC price movements, I have good prospects to make money.

You are not wrong, however...

See the big picture here. The SEC approval paves the way for businesses to officially enter the Bitcoin realm.
Many of the biggest companies want to invest in Bitcoin and that means billions of $$$ having access to Bitcoin.

Have hear them same theory….

Yep my major concern. However it's possible, this doesn't come to pass. Firstly depends on Otter being correct and secondly it's possible some kind of rescue package or buyout or something can be done for some of these companies. I wouldn't bet on that of course, but there is some hope, no matter how slim.

Hi there, Chartbuddy!

Explanation

GAAAAAAAAAAAHHHHH!!!!!!!

THE HUMANITY!!!!!!!!!!!

I was quite condident that we are near the bottom. But this morning I've read carefully the thread about blockfi https://twitter.com/otteroooo/status/1537497403246268416. If I had any illusions that all is good and BTCitcoin will recover soon, they all evaporated. I'm starting to think that the current price is miraculously high given the circumstances. It seems that all this mass adoption and institutions getting on board in the last years is just a bunch of giant ponzis falling apart before our eyes. This is too bad not only short-term but mid-term as well.

Just one sad detail which describes the current situation. Blockfi was hoping for GBTC to convert to ETF so they could withdraw thousands BTCitcoins and sell them without the 30% discount, i. e. at the real prices. In other words, we hoped for a spot ETF to attract new investors, but instead those 640K BTCictoins would be dumped immediately after the conversion! So, instead of bullish news this turns out to be a major bearish news. Now, for the first time I want SEC to keep denying those ETF's. And if one month of panic caused this crash to 17K, I can't imagine what will be the price after 6 months, when all these ponzis became insolvent and the investors get only 1-10% of their investment. This is a major blow to BTCitcoin, and I'm starting to think that the price may fall below 15K or, God forbid, below 10K. Anyway, I'm not selling, only buying all the way down. This is really heartbreaking, and the prospect of having more coins than before doesn't make me so happy as I thought.  Let's hope that the worst is behind us and the market will survive the liquidations to come.

Wish I could share that thought, but I suspect that there will be a lot of selling coming from that. Think about it the discount is currently 35% or something if it would become an etf the price woould immediately spike to parity then people would sell the shit out of it, as it would be a 35% increase straight away.

I could easily be wrong but that's how I see it. If you see the discount decrease a few days prior chances are that is insiders buy for that outcome.

I also hear though that there is no chance it will get up. I don't think this dump will help.

Where's it being held, Jaywick Sands?

I  have a gut feeling this is going to stay low until 6th of July.
Then the SEC approves the Grayscale ETF. Institutional investors will buy in at a discount and everything goes up like a rocket...

Good thing that I did  not say "bloody mary" three times, we would have been totally screwed.


Difficult to expect prices below $10k.. even though we know that extremes are possible, and the trend is your friend...

But are current local low of $17,593 is already 21% below the 200-week moving average (which is slightly above $22,300).. so how much more of a bottom is really realistic?  Another 20% to 40% dump at most?  That would put us somewhere between $10.5k (for 40% more) and $14k (for only 20% more).. and even getting to $14k seems a bit much of a stretch from my perspective.. but hey what do I know.. I would have never thought that the odds would have been very high at all that we would have gotten to where we are at, at least not in this cycle.

Interesting indeed. I did not know about silver during the depression. I agree with you on everything of course, definitely a great opportunity for those who can invest for the long term.

What makes you so smart, PokestarFan?

What size portfolio are you presuming?

What other details are you presuming about the investor?

What do you mean by diversification?  What kinds of asset areas besides "crypto"? and really fuck crypto .. why did you bring up "crypto"  we are talking about bitcoin in this thread.. .when you use the term "crypto" are you talking about bitcoin or something else.. ?

Can you give a hypothetical of a portfolio and how it might be sufficiently diversified based on various individual factors?

Are you presuming an old investor or a young investor?  Does that make a difference from your ways of criticizing lack of diversification?


Why do you have a mental block that you need to buy back in at prices close to the prices that you sold?

Hardly makes sense when BTC is quite likely NOT to go back to those price levels ever again..

Sure there might be some crash that takes bitcoin further down from where we are at.. but we are already in rare territory with BTC prices below the 200-week moving average for 5 days already and also 20% below the 200-week moving average..

Sure there are no guarantees but expecting sub $10k and even  sustainable sub $10k seems to like pie in the sky;.

There are all kinds of ways to establish a reasonable stake in BTC.. without having to get into some kind of fantasy theories/expectations about entry price points that may well lock you out from ever buying.



I agree with the point that it is difficult to enter when there is a lot of uncertainty... but that might just justify how much to put in at various price points rather than not putting anything in and waiting to only employ lump sum investing..

In other words, dollar cost averaging ( DCA i)s the most powerful BTC accumulation strategy and it can be supplemented with buying on dips and lump sum investing.


That causes long term holding motivations, then.


Of course you can do both.. You can just set up a small amount each week, whether that is $10 or $100 or some other amount, and then otherwise just go about focusing on your business matters.


Sounds like you have a decent grasp on some of bitcoin's central investment rationales... it is just a matter of setting up some kind of tailored plan, and of course, you can be way less aggressive, and then just be ready to throw more at bitcoin if some more clear bottom signal is in.. but sometimes the bottom signal is not very clear, either.. so sometimes if you wait too long, then you are just buying at higher prices.. so damned if you do and damned if you don't to some degree which gets back to the justification that you have to figure out a balancing approach that is comfortable for yourself based on an assessment of all  of your personal circumstances which should include cashflow, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, time, skills and abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments....

Explanation

Excited…!!! Who else is coming?