Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 8134. (Read 26712718 times)

Yeah, that's the spirit bro.... my best wishes

I read some of those coins were sold on exchanges didn't move in the last 10 years.

Tip of the iceberg? Weak hands? You decide.

I am cool btw. I am focusing more on my business, will also follow my (new) DCA plan. Hopefully I won't make the same mistake this time.

I always thought It wouldn't come near of my point of entry price. which was 4700. The moment I saw it at 4000 I was about to lose my mind in the middle of the night 4.00AM... I am over it now. New day, new opportunity.

According to https://data.bitcoinity.org/markets/volume/30d?c=e&t=b
in the last 2 days nearly 1 mil bitcoins were traded (mainly sold) at the main exchanges excluding Binance. On Binance the volume was 400K each day, so we can safely assume more than 2 mil. bitcoins were traded. This is a huge amount and the question is how the market will adjust to this enormous inflow of bitcoins. I don't have a subscription to glassnode to see how many new bitcoins were deposited into the exchanges, normally it is between 15K and 40K, with a daily peak 444K in Dec 2018. After a month the chart will be accesible for non paid users, if anyone has a subscription can check and share what was the peak this time.

On one hand it seems logical to take more time to return above 10K and hold it. On the other hand, these bitcoins are now into a very strong and patient investors. These people are not like the new generation of theoretical traders who think it is easy to make profits. Emotions like greed and fear play a main role, and untrained will crack under the pressure. Experienced investors put their bids low and waited for a year in this case to get them filled. So hardly they will be chasing 10-20% or even 100% profits. Now, when the price starts to recover, the burnt traders and the whole world will see that even in utmost panic Bitcoin didn't go to 0 and no matter the fall it recovers really fast. This lesson will make the weak hands stronger, if they have the guts to enter the game again. So IMO not only a new bull run starts right now, but a whole new bull cycle lasting for years. May be this was the real end of the bear market. How far we will go is a question that honestly I can't answer. All charts and short term predictions were shattered. The good thing is that Bitcoin is not dead and doesn't care about these predictions.

This is exactly what I meant... explained in better words and proper notation.

I didn't expect something that simple would cause that much arguing, more so when the differences between BTC and USD are clear and we all agree on that... but that is a completely different thing that has nothing to do with the fact that both are equal to themselves... as absolutely everything is (equal to itself).

Anyways, "1 BTC = 1 BTC" is a strictly true statement and many people will keep using and giving it whatever meaning they want. This is fine.

https://twitter.com/wef/status/1238782011969548293

How does quarantine actually work?

https://www.weforum.org/agenda/2020/03/coronavirus-covid-19-quarantine-restrictions

Bittrex to introduce new trading pair
BTC to TP


Will dump all my TP at the peak in 2 weeks

yes.

some also come with deodorizing filters, but with the ones ive encountered the filter always seems to be broken or defective.

so im told.

I have other long term investments and earn a salary, but BTC is my most liquid saving. Stupidly, I spent a ton of money in February renovating... and now the bills are due!

*edit* I call it capitulation because I broke every rule I believe in.... NEVER PANIC SELL!!! IF I PANIC AND WANNA SELL THAT MEANS BUY BUY BUY!

Not really capitulation, unless it represents a large proportion of your holding. It is a sensible move. Plenty of canny hodlers have had to sell small parts of their BTC at lows over the years. It is always better to make sure you have enough liquidity to be comfortable for a long wait.

Thanks for sharing, no shame really. I'm also similarly positioned using bitcoin as my 100% savings. The only difference is that I don't need the capital I've allocated for any reason in the short term (except in emergency). I have a somewhat reliable income stream I can reasonably live from.
If you'll entertain, its a great lesson really.  Is your investments in Bitcoin to help bitcoin evolve or for some other reason?
Other reasons get complicated very easily as I'm sure you are aware and as Bitcoin stands it's ground, it will claim the advantage over unaltruistic investments.

I (shamed to admit it) capitulated at £3660 on Thursday night and liquidated 0.4 BTC for £1500. Sadly, I needed to make sure I had the money to pay a bill. I use BTC as my overall savings account with very little in my actual bank account other than general operating costs and some on exchanges to play with. It means I lost about 0.03 BTC / £150 in real terms. I had been buying bits and pieces during the crash  - then panicked and sold at a loss.

I am the master of capitulation. I did it at $280 and I’m sure I’ll do it again. This is a sign we can go up now!

I surely feel good to have been able to ride this out, so far, and really I would prefer not to dig into fiat that is NOT supposed to be dedicated to BTC. 

It's one of those things that we cannot really know, and we have to try our best to our own comfort level to figure out a psychological and financial balance that works for us, including considering what are we going to do for extremes that we do not want to happen, and then those extremes end up happening.

Spouting out bullshit on this thread sometimes has consequences too, including if guys (and gal) are saying that they are 100% in but the price is in the $9ks or $10ks, and fuck, it is not going to feel very good if the price corrects 60% down from there in a relatively short period of time, and you thought that you should go 100% in because other members were saying that they were 100% in.

So, yeah, the more that you are in, the tougher it is to take any action. Also, some of the guys waiting on the sidelines with their fiat ended up in a real good opportunity place, as long as they were able to pull the trigger when the price dipped, and not pull the trigger too early.  Of course, I have never really been one of those guys, because I always have been a bit nervous about making sure that I am adequately prepared for UP, which means that more value is in bitcoin and more value, ends up losing its value when the BTC price drops more than 60% in a short period of time... so all the BTC that I bought on the way down, do not even add up to a fraction of the loss of value. 

I did a rough ballpark look at how much BTC I bought, and yeah, I increased my BTC stash between about 4-5% during that 60% drop... but just looking at the matter, we can see that the value dropped 60% so how can increasing the stash by 4-5% make up for that loss - except for when the BTC price goes back up (assuming that it does), then it is likely that those of us who play with this kind of incrementalism and attempt to increase our BTC stash will have slightly more BTC when the BTC price returns to $10k and above... and it all adds up and the volatile periods add up, so it could still take a while and several ups and downs to add 1-5% of actual more value to a stash.

Maybe I should be a little bit embarrassed about my own system, but I make a choice NOT to sell very much on the way up, so when the BTC price is going back and forth, I am NOT making any kind of killing, but I feel good about the whole matter at a level that I have thought about and chosen for myself and sometimes I will think about tweaking the amounts of the sales or the buys in one direction or another if I feel that either I am not stacking enough sats or that I am not comfortable with the amount that I am selling on the way up.. and there is a trade off that requires being willing to take more BTC off of the table if the BTC price runs in the upwards direction without correcting back down.

Not at all, Bitcoin is a mere 100 billion market cap today on it's journey to replace a irresponsible monetary policy.
Volatility is expected. There won't be as much volatility when BTC has a much larger market cap like gold. You're just early if you thought it should be stable.

I don't know what you think when you use the "convert" word here   If you convert fiat into cash, I can also exchange BTC for cash, what is the difference? Can BTC still be used as toilet paper in a different way? Just kidding  
No way, can't think of a better way to call it   So what is the intrinsic value of Bitcoin? Can I call the terrible volatility the intrinsic value to bitcoin?

Good morning!

Yeah, i might sound too bearish because of the $3k - $3.5k range, but i will buy at higher prices too without much loss (or much less gain, if you want to see it that way).
I'm easy with holding out and waiting, in times of uncertainty i refuse to make moves, because this has brought negative results in the past, mostly.

Yes, it is. 1 USD = 1 USD, always, every day since April 2, 1792.


 

My example was serving to make what you were saying more logically palatable, and then you mangled it to make it once again illogical.

When bitserve said this:


he is _clearly_ talking about a reflexive property here, X = X. You are arguing against that, saying no, X doesn't equal X because X before is different than X now. While its value changes, the USD is not inherently different. It is always the same denomination of legal tender to be used in the U.S. for goods and services. The _value_ as measured against a basket of currencies or a gallon of milk or whatever is different -- that is a characteristic of X. You're just saying flat out X ≠ X, which is dumb.

Holy shit Oom, 2021 is quite a fucking long way away.. I mean we have more than 9 months before entering and another 12 months

(let's see maths)..

which would be 21 months before exiting...

Holy shit.. you think that we might not make ATH before then?  Bossian is going to take LFC's money?  Omg.. omg... Never would have thunk, and still I have a hard time going down that belief.. .we are not even really outside of the stock to flow model or the four year fractal model or other convincing BTC price prediction models that would suggest that we have decent chances of even getting to new ATH in this calendar year or even in early 2021... jeez, louise...  

We try NOT to muddy our thoughts too much with the concept of crypto in this thread, but instead attempt to focus more on king daddy, aka Bitcoin.

Accordingly, bitcoin might not be any kind of exact solution to a lot of the ongoing bullshit in the world, but it can serve as a kind of hedge that might provide some degree of peace of mind... Yeah, sure bitcoin is not any kind of complete solution, but it is something, and part of the reason that some of us invest into bitcoin is not ONLY for the get rich quick aspects of bitcoin, but also that it provides some solid framework that can motivate world actors to attempt to be more honest and accountable ..in a way that also rewards the pursuit of self interests in a free market kind of way... Of course, it is not perfect, but it is a kind of sanity hedge... and I suggest that you invest some finances and psychology into attempting to understand it, without devolving into a going overboard state.   In other words, get a grip, mindrust... and aim towards putting king daddy back into providing some kind of meaning in your life.



They always say that they are going to go away.. but they don't... they just become more and more and more bitter.....

Much better to figure out some balance and get back into bitcoin in some kind of a balanced way - otherwise you are going to be kicking yourself (and us) for much longer than any of would want to experience.


He actually believed in TA too much.. which seemed to have contributed to the problem that he put himself in.   

Good morning WO,s


https://twitter.com/Bitcoin/status/1238608438797701121


https://twitter.com/hodlonaut/status/1238466643522658306

Bullish, always bullish