Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3424. (Read 26713499 times)

My thoughts exactly! I've been thinking for the last several years what is in the mind of leverage/margin traders. We know that they can't win this game, but they don't. So probably they are quite nervous, easily irritated, harboring suicidal thoughts which exacerbate each bull run, seeing how much they would have got by just hodling instead of trading. And here it is - a perfect example for that. Even his nickname shows the devastating effect of the leverage trading on the human mind. So, let him rant and spam, this is a good lesson to the newbies.

 No this is good!  It's much better for people to learn from the misfortune of others than to experience it themselves.  If newbies see the pain and anguish we're going through as a result of death_wish's margin trading debacle, it might prevent us from having to live through it again.  We'll all come out of this for the better.

Also.. as much as I wanted this to be the bottom... I sure don't think it is acting like it is.  I want it to be V shaped.  It wants to be a dead cat.

The situation we are in is interesting.

1.  The world financial system is being demolished.  On purpose.  The boomers are either locking in their gains or giving them back, depending on their IQ.  What we are currently seeing is the USD is being made the safest place to hold value.  But it is also being massively inflated.  There are no other exit doors in the plan.  Eventually as the noose tightens value will be safe nowhere, and we will have to all fall into the loving arms of the state.  But... Bitcoin.

2.  And yet the world has, for the most part, NOT realized what bitcoin is.  That it is the only exit door out of the system as it crashes.  Some have realized, albeit early enough (too early, sort of) that we are having to go through this.  As people DO realize they will be buying for sure.  But right now BTC is just a tech stock.  And it is still risk.  It's going down with all the other risk ships.

3.  Price will equalize SOMEWHERE.  Because there ARE enough people realizing that Bitcoin is a possible safe haven that as the price drops, the very most enlightened of the herd are going to come trickling in.

We are currently sitting at what I thought was the worse case scenario, and not bouncing...  oh well. 

Thing is, we will...  that old saying about darkest before the dawn?  Seems pretty dark to me.

Explanation

Yes, sell all your bitcoins while still >20k and buy them back at 10k.

With regards to Celsius, I don't see the logic here. If they trade against their customers and sell customers' bitcoins to suppress price, they must hold gigantic short possition which is not possible to close on the market without causing dramatic rise in price. So, they want to confiscate customer bitcoins by liquidating customer long positions at 16k. Is that the case?

Time for another leg down maybe? I really wish this shit was over at least for a little while.

Right before my hard drive wend south I was experimenting with higher fees...  As I have said a few times I kind of want to just break even.  Though now that is laughable considering it means making a couple hundred million sats...  

But as I was saying, I had jacked the fees up a little.  and oddly, my routing was going up.  I have not yet been able to figure out how it works. Lol.  Not sure I will at this point.  On the other hand, I DO think I will know how both LND and CL can be recovered from backups... we will see.

Damn, that was an easy one.

In the meantime: Microstrategy seems to be underwater.

No chance Micheal Saylor being fired, but it must be a bad day form him.

Explanation

It went down as low as $20,800 and right now it bounced back to the $22,300 price range.
I've heard the crypto lending company and thought of investing into it, but fortunately I dodged again another bullet just like with Terra . That's one reason only and there are many reasons as well why Bitcoin dropped as of today.

It's easy to say, but people will not invest into Bitcoin because they have a mindset of "Ohhhh it will go down even further. I will wait until it will reach the bottom, then I will invest" or a mindset of "I don't want to lose money and I believe it is still going down therefore, I will wait".

Massive liquidation if Bitcoin prices fall below $16,852.58?

I did not see a platform like this have this much of an impact on the whole market. But TBF I did not pay too much attention to them. But seems if you advertise big APYs people flock to give you their crypto




You can say that again !

Link is showing 404 for me.  For archives, too:  web.archive.org gets 404.

Evidently, the data a quick web search found for my previous post on this were way off:  Is this actually the same order of magnitude size meltdown as Terra?

Explanation

That whole company sounded dodgy from day one.

Whoever was promoting it here was probably part of it. I remember he spoke as if it was perfectly normal to give up your Bitcoin keys in exchange for small annual returns, as if he had been doing it for years.
And someone else supposedly asking "oh really, tell me more, how do I do that?". Probably the same person.

What a crock.

So, BTCitcoin fell to 20K as some were hoping for. But what was the reason for that. From what I've read in https://www.zerohedge.com/markets/great-celsius-implosion-what-went-wrong-and-how-much-more-will-bitcoin-drop it is another imploding "blockchain" company.

tl;dr. Celsius may have started as an arbitrage platform giving yield for those fools lending their BTC and shitcoins. But as the arbitrage dissapeared 6 months ago, they simply became a ponzi risking their client assets by making enourmous shorts. They had more than enough BTCitcoins to stop any increase in the price, liquidating practically 100% of the longs. But their problem is that what they do is perfectly visible by everyone. People started to realize slowly they've been scammed just like bitconnect.

 Now their margin call is at 16.8k (used to be 18.3K yesterday) as seen in https://oasis.app/25977#Overview. How much collateral BTC they will be able to add is unknown. Now we have a proof that all this downard pressure in the last 6 months was caused partially by this ponzi, who could give yields in BTC only if the price was falling. So, we need to cut off the cancer ASAP. People have to withdraw their funds and invest properly in BTCitcoin. After that I'm quite confident BTCitcoin will start recovering.

What a complete shit show that was yesterday, and that on my b-day, fuck you FTX scam exchange and paper hands.

In love with bottom...

I think we all hope that.

New balls, please.