Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7343. (Read 26708063 times)

You might be correct that we are bordering on a potentially slippery slope when attempting to assert whether the tail is actually wagging the dog and if so if this is the first time that such tail had happened to appear to wag the dog.

First, I believe it is way too early to even proclaim that there is some actual meaningful and lasting price breakout, whether we are talking about the tail or the dog or both... Sure, there seems to be a decent amount of short-term action, and a lot of fanfare, but will such short-term action lead to something that is sustained and meaningful?

Second, there have been plenty of times in which the tail had appeared to have been wagging the dog, previously, but then after taking a closer look, we found out that we had been looking at the situation from the wrong angle and what we thought that we had been seeing was not actually happening as we had previously mistakenly thought.



For now, I will hold my tongue, and sure of course, there could be some budding breakout that is taking place, until there is not.       


Don't beg.  It's not a good look.  King daddy might decide to punish you.      


I admit that I'm no armchair psychologist, but I am not sure whether you are in a good place, bob.

Anatomically incorrect, but OK.

Whale Alert
1,900 BTC (17,806,057 USD) transferred from Binance to unknown wallet

Tx: https://whale-alert.io/transaction/bitcoin/5288d8357e3e71273861c3f6fbbbbf148d5eac485efeefe054110212b6681dc7/1

Source

It's a really good time to be alive....

the evening wall report

climbing back upwards to the 0.618 the four hour chart has clear skies and smooth sailing towards building support ahead
4h


that 0.382 resistance at $9.54kish dominates the sky overhead with support gathering underneath at the 0.5 and $9.26kish  #dyor
D

#stronghands

Oh, joy.

I really really really really really really really need this to be the front end of the big rally for this cycle.

I really want to harvest a portion of my hoard into a little real estate and set up an account to pay me like 80k a year from here on out and let the rest ride the rocket.

I am tired of my slaving for money that is worth less worth.less worthless.

That said, I can keep hanging on if I have to...  but c'mon corn!  you know you wanna!

Fuckin blow him already.

#sohomo
#Thursday_here
#STFU

Please no!!!!  need to wait until next Thursday for me to be able to buy some more... haven't had enough time to buy at these prices.

I think I can live with that.

OK, unless I'm missing something after reading those links and others it seems to me that the main reason is for the ability to earn interest.

From my understanding there are multiple forms in which tether is issued, and wikipedea may not be the best source (or even the most up-to-date in accordance with the possible EOS and TRON that cAPSLOCK mentioned, but it describes the tether issuance situation like this:

>>>>>Currently, there are a total of four distinct Tether tokens: United States dollar tether on Bitcoin's Omni layer, euro tether on Bitcoin's Omni layer, United States dollar tether as an ERC-20 token, and euro tether as an ERC-20 token.<<<<<

https://en.wikipedia.org/wiki/Tether_(cryptocurrency)


Thanks for exercising ur lil selfie-constraints in order to contribute towards making "my day" even MOAR 'specially better when it finally does comes.   #nohomo  

I don't know really.  They also did a portion on liquid, which I would think is MUCH MUCH MUCH better than the crypto-kitties garbagatorium.  They have also released USDT an EOS, and TRON (LOLROFLMAO).  I guess not to put all ones scammy eggs in one basket?

https://cryptobriefing.com/bye-bitcoin-tether-booms-on-ethereum-withers-on-omni/

https://www.thestreet.com/investing/cryptocurrency/crypto-conversation-tethers-swap-is-swarmed-by-questions

Is there a write up why they moved from the omni layer and how they accomplished that?
Also why the fuck would they do that in the first place?

Regarding btc vs unnamed alts. Not really the right place, but the topic was already discussed above.

I consider btc as a savings account and alts as a checking/spending account.
I only invest single digits (in total) into alts, but sometimes they run up impressively.
Then they drop just as precipitously, so I try to take profits aggressively, mostly into fiat, with some going back into savings/btc.

BTW, this is the first cycle when multiple alts started going up exponentially before btc significantly appreciated (if you ignore the last summer "premature" bump).

Cup, meet Mr. Handle...   

Variations of those kinds of skepticisms of tether are not exactly new, and even though tether started being used in early 2015-ish, a lot of the conspiracy theories had gotten pretty strong around and following Bitfinex's purported hackening in 2016.. and surely there has been a sufficient amount of drama regarding it, too.... and whether any of those potential downfalls of tether end up playing out, there could be some meaningful negative impacts on bitcoin, as you suggest - just like there are other possible scenarios in which either bitcoin's liquidity is tested or bitcoin might end up having to go underground, which currently seems to not be very likely but remains a possibility. 

Some scenarios are more plausible than others, and surely last year, Armageddon scenarios were probably less than a 1% chance, but perhaps one could argue that since early 2020 and some of this year's playing out of virus, markets and the revealing of supply chain vulnerabilities and erratic desperations that politicians can sometimes employ or threaten to employ causes Armageddon scenarios to become way higher on the probability than they had less than 6 months earlier.

So, even if we are adding up a bunch of scenarios that do not seem likely on their own, we have seen unlikely scenarios playing out in recent times too, and becoming more and more probable, at least within speculating regarding things that might happen, which may well inspire both a need to think about these matters and also some need to at least consider which preparatory measures might be prudent and reasonable.

Definitely, I hear you, btcbeliever, and there surely can be justification for transitioning into more of a liquidation phase, and in that regard, either bitcoin is not a very good investment for people who do not have a decently long time or the folks with the relatively shorter timelines need to consider taking a bit of a smaller position in bitcoin, due to its ongoing risk... that may be a bit much if the investor has a time line of less than 5 years and continues a bit disinclined to gamble with large portions of his/her investment portfolio holdings.

Of course, if a bitcoin investor is entering into his/her 60s, and s/he has already accumulated a fairly decent investment portfolio that has come close to already meeting his/her investment accumulation goals of $1million or $2million or some other personally set amount, then  it may not matter so much to the investor if s/he already has put (or has accumulated) a value of 5% to 10% into bitcoin which might be $50k to $200k or if the amount is even equal or greater than the other portion of the investment portfolio, such as having an additional $2million in bitcoin.. because even if bitcoin goes to zero, this particular hypothetical investor has already completely reached his/her investment goal in regard to his/her non-BTC portion of his/her investment portfolio..

There can be a considerable amount of variance in regards to figuring out if the BTC portion is causing unnecessary risk to the HODLer or if s/he should just let his/her investment portion ride - and of course there are incremental approaches to cashing out or reallocating which is one of my favorite ways of thinking about the matter - and Jimbo seems to have a similar approach to whatever portion of his portfolio happens to be in BTC too.. and some of that also could do with how long you have already held the BTC in terms of whether it is already profitable whether you cash out at our current $9,400 price or if you feel that you need higher prices, or even if you would be willing to cash out at $5k, if it seems that we cannot break out of the mid-4-digits.


Surely, not guaranteed.. even though there are a lot of theories to support giving decent likelihood to such an exponential price rise in the next year or two at the latest... I personally would not gamble in that direction.. but that is my personal approach to these kinds of matters.

Call me a party poop... if you must.