Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6905. (Read 26712678 times)

Now you are just showing off, 600 

Yup Europe was hit hard by second wave. Czech Republic, Belgium, Netherlands, Slovenia in the lead. It is funny Slovenia had very little infected in the first wave and during summer had almost no cases. Luckily we have only state owned lazy public service healthcare that have gazillion reserves. So now when they will have to do it with max efficiency, they will be suddenly 10 times more efficient

Could $13,000 begin to act as a new support? We’ve dipped below several times now (all the way to $12,8xx) but bounced back over $13,000 every time.

Bears are failing to get control atm, I’m just wondering if the next fairly significant move will definitely be up? It’s beginning to look that way.

I’m calling a new high (since it was $13,8xx last July) by the end of the month. $14,000 before November

I am having some difficulties being pessimistic about BTC price movements in recent months. 

More specifically, on a personal level, in nearly the past two months (since September 3), I have only had one BTC buy order execute, and I have had around 10 BTC sell orders execute... which means that the BTC price has mostly been going nonstop UPpity during that time. 

Sure, Bitcoin prices do not tend to go straight up, except during extremely bullish periods.. yet from looking at my own books, we seem to largely be experiencing a decent amount of largely straight UPpity BTC price actions with hardly any meaningful and/or significant price corrections along the way...

I am surely ONLY making an observation, and I am NOT complaining because as many of the regular folks in this here WO thread likely realize I set my BTC orders in such a way that causes me to hardly give any shits about which direction BTC prices head in the shorter term (months or a few years), so long as they largely go UPpity in the longer term (like 4-8 years or even more)... which seems to be what has been happening with our lillie fiend, aka dee bitcoins...

Even looking at the shorter term, we seem to be experiencing ongoing bullish as fuck BTC price actions, so I hardly see any reason to be concerned about if we might hav some we lil blip along the way, here and there, which surely should be reasonably expected to happen, from time to time in bitcoinlandia.

Even if we were to experience some kind of BIG ass correction (and test) down to $10k-ish..., that does not seem unreasonable and sometimes happens in bitcoinlandia... not sure if we can write off 4 digits forever, but surly NOT out of the question that we might be getting close to being able to engage in such writing off of 4 digits, too.. ... hahahahahahaa   

I, personally, am interested to see what happens when we get close to testing our quasi-local top (from late June 2019) of $13,880... we going to get above such price range?  or hang out in that area or lower for some amount of time?

$3.63   thats pure shameless extortion

Just saw this today, a fun read. Something you can point the bears to when they inevitably start whining about tulips during the upcoming bull run...
https://getpocket.com/explore/item/there-never-was-a-real-tulip-fever

wow. look at this transaction:

more than $1 billion worth of btc...

https://www.blockchain.com/btc/tx/d486aeb0e59181fd1addb4aa69ce04d638188fc1125c424899267e8ed6a8af24

muahaha... check the fee. ..


edit:

found a bigger one:

https://www.blockchain.com/btc/tx/b36bced99cc459506ad2b3af6990920b12f6dc84f9c7ed0dd2c3703f94a4b692

About mindrust, on a serious note, I just can't understand why he did what he did. I would expect such panic selling from a newbie, someone who doesn't know much about Bitcoin, like my mum & dad maybe. But the picture I had of mindrust, was of a seasoned, experienced player. And sell 10 BTC @ under $4000 a piece to get what? $40k? Does that justify losing the chance of a lifetime?

[ --- insert Capt. Picard facepalm meme here --- ]

For what period are you suggesting that BTC prices are going to be around $20k to $22k, cosmicbtc?

Do you realize that tentatively (and presumably) BTC prices in the $17,250 to $23,500-ish arena is a kind of deadman's zone in BTC prices.. so it remains as not very likely to be accurate to be discussing in any kind of detail anything that might take place in such price zone - especially, since we are NOT likely to be there for very long, relatively speaking.

Of course, in any system, quirks can happen, so I am not saying that hanging out in the deadman's zone for a relatively longer period is not going to happen, and in that regard, we could end up hanging out in such deadman's zone for longer than anticipated, but still, at this time, does not seem to be reality-based to be emphasizing any kinds of bitcoin-related things that may or may not happen within such deadman's zone.

Don't u know nuttin, cosmicbtc?

Oh?  I forgot, u b a newbie.. that may 'splain some of dees lack of focusening matters.


 


Hopefully, he will live long enough for you to be able to tell him:  "I told you so."  At current prices (near $13k), you would need around 77 coins..., but if prices go to $100k, then you would only need 10 coins.... So I am not sure if 10 coins are in your reach or if you are going to need BTC prices to go higher before you are able to wag your pointing finger at pops.

Global cases rises to almost 500,000 new infections.

Covid-19 is rising on a rapid scale in Europe, hospitalizations and ICU's are almost ore at max capacity in some countries. Europe is on the verge of losing control of its fight against Covid-19 and will slowly moving into lockdown (light) 2.0.

Cases in El Paso County in Texas skyrocketed and hospitals reached 100% capacity. Indiana, North Dakota, Montana, Oklahoma, Utah and Ohio reported record single day increases in new infections followed by records in 16 states.

Most parts of Asia seems to be spared.. atleast for now.

But watch out, in the cold winter months the virus will accelerate the spread and deaths even further. Though months ahead, stay save.

so when are they gonna bottle it and sell it like perrier?

https://twitter.com/hasufl/status/1320787086493044737?s=21

I agree that such "funny thought" is worth exploring since the power of exponential value growth can frequently be under-appreciated - including that when the BTC price is wildly appreciating, there has sometimes been a kind of throwing around of value in crazy ways, that would cause the losing of money in regular scenarios, but when the BTC price is rising like crazy, some folks might lose or throw away 50% of their stash, but still end up being stupendously profitable. 

Take the period of late 2016 to late 2017, there was a BTC price appreciation of more than 28x from $700-ish to $20k-ish, and buying 20BTC at the start would have cost around $14k, but would have been worth around $400k at the peak... so there may have been ways to fuck up the HODLing and trading of BTC for shitcoins and still come out ahead and even gotten more than your $14k back at or near the BTC price peak.   

In other words, nearly everyone becomes a genius by following some of the more basic principles of buying low and selling high, and also NOT doing the opposite of buying high and selling low.... , which second scenario ended up being some variation of how mindrust's situation played out... which is a sympathetic situation to the extent that he was a real person rather than a troll or a fake - and I do tend to believe that he was a real person... so I continue to have sympathies for his situation, even though it remains a good illustration regarding a kind of value of NOT panicking and NOT losing faith in the BTC.

I just want daily ATH’s
 Nothing more

well sheeeeeit






--------

charts

#dyor

1h


4h

#stronghands

One other thing...

Stonks are getting hit by a meteor today.

Bitcoin?  Just a speedbump.

Bullish.BTCBTCBTC

That's just pretty clear evidence of JPM buying BTC after 2017 and getting their bags filled in 2020.

Me too.

I am pretty happy with how the whole situation has been working out, and really my income in late 2013 and thereafter had largely been reduced too, so really, I had not anticipated any major increases in networth after that time.



It does NOT seem to be as accurate to measure ONLY what is happening with bitcoin without attempting to take an overall picture of your situation.... that was what I thought was being attempted by lightfoot and replicated by me.

Given bitcoin's actual price performance in those two 4-year periods, getting about 10x on bitcoin and another 10x does not seem implausible or unreasonable - even if you seem to be "coincidentally" coming out with seemingly quite rounded numbers for both of those time frames.

Even though I may be getting ahead in responding to aspects of your post, I would like to point out that figuring out BTC holdings or even overall networth holdings on any particular date can be a complicated matter in itself, and perhaps one of the reasons that some folks may only be inclined to entertain such questions on an annual basis (around tax season), but I have been attempting to maintain an ability to assess these matters and changes in these matters on a monthly basis, and for sure, from time to time, I have ended up having to go back and to revise numbers based on new data or even new ways of categorizing some of the data.

So, my numbers come from an end of October 2016 and end of October 2020 (almost there) assessment, and in 2016, the bitcoin proportion of my overall networth was about 21.3% of my overall networth, and in 2020, my bitcoin proportion of my overall networth is around 75% of my overall networth. My networth charts do NOT show the actual bitcoin price at the time that the value is locked in, but I believe that I had used $700 per BTC in 2016, and so far I have been using $12,900 as my 2020 calculations.

I look at and compare the various numbers, and really I had come to the conclusion that if I had not come across bitcoin, and I had largely continued with my previous investment patterns, my various other investment would have largely remained flat in value - which they have done when I remove bitcoin from the calculations.

Another point is that I find it completely crazy and unreasonable for the vast majority of normies to be transitioning into some kind of high allocation of bitcoin that approaches anywhere close to 100%, and even allocating more than 10% to 20% is going to be unreasonable for a lot of normies.  In my case, specifically, even before I got into bitcoin (before late 2013), I had largely figured out a way that I was going to be able to sustain myself for the rest of my life with a meaningful amount of comfort, even without having had come across the additional returns of bitcoin.  Sure, bitcoin has added a lot of icing on that cake, but even if bitcoin goes completely to zero I have that other value - and of course, I will acknowledge that we have found the precariousness of even traditional investments, too... so sure there is a bit of presumption, in any way of projecting upon how solid of a ground any of these matters happen to be - besides investing in guns and ammo.  

I suppose that part of my point in criticizing the "invest everything in bitcoin" evangelists, is that it seems to me that bitcoin remains such an asymmetric bet that many folks have chances to become rich as fuck without going "all in."  Folks can engage in reasonable ongoing investment into bitcoin (perhaps aggressive can help to accelerate the getting rich matter a wee bit) and become rich as fuck with the passage of time.  Of course, starting out with a 4 year investment timeline is a good minimum starting point, but it seems more reasonable to approach the matter with a 10-20 year investment timeline, and even though regular normies have historically needed to invest 30 to 40 years, bitcoin seems to provide a potential of short-cutting that timeline - even though there are no guarantees of getting rich quick - and it seems quite imprudent, from my perspective, to be presuming that bitcoin is going to get you rich.. and there is some prudence to having some kind of a balanced approach in the way that value in invested and built... even if some folks are going to choose much more aggressive approaches to bitcoin than what I would recommend.



Many times we can learn from mistakes, but we don't necessarily always learn because sometimes there are personal inclinations that cause many peeps to repeat behaviors (such as gambling), even if they have gotten burned by such behaviors.  I am surely not immuned from such behaviors, and I have several of my own examples of mistakes that were made at various points along the way.


Cannot stop people from engaging in some risk.. and usually recommending a strategy would involve some aspect of considering the extent to which a person might be able to make up for losses, if the risky strategy ends in losses.

Of course, the more richie we become, the more we should be concerned about engaging in some degree of wealth preservation.  If we do not have much wealth to preserve, then sometimes we might consider that we do not hav much to lose, either, so we might be more willing to risk what we have in those kinds of circumstances.. so sometimes those kinds of strategies can pay off, as your experience seems to demonstrate.



I disagree.  I believe that you can invest incrementally, even though there may be some advantages to front loading your investment into BTC in a heavier way, as you suggest.



Of course, all of those are possible and even reasonable assessments of probability - with some uncertainties in regards to the timeline, yet I still conclude that it would be unreasonable and imprudent to approach your own investment strategy as if those various scenarios were guaranteed.


I am not disagreeing with you.


Yes, such a thing is possible.






Well, we are probably on a similar page in the assessment of these last points.  In other words, we do not likely need to have Armageddon, hyperinflation or some weird-ass scenarios for bitcoin to reach $1 million or even $10 million.  You are preaching to the choir when you address that angle.