Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[AlcoHoDL]

If we're going to spend an entire August in 11xxx range... well, that's fine with me.

It's a good range!

Yes, it is.

But we are greedy.

We want MOAR!

[LFC_Bitcoin]

If we're going to spend an entire August in 11xxx range... well, that's fine with me.

It's a good range!

Stability is good, sometimes trading in a sideways range for significant period is a good thing. Se were in the $9’000’s for a while before we broke out. I’m cool with being in the $11’000’s for a month or two if it means we break out & push towards $14,000 or something by November.

[d_eddie]

Licked 10k from above. Let them play sideways. Tide is turning and we're on top of it.

[Phil_S]

4 best months so far:

12/2017   average price=$14835
 1/2018   average price=$12891
 7/2019   average price=$10665
 8/2019   average price=$10612

[Karartma1]

Taking August to re-read the Bitcoin Standard again just to be sure I remember that I am here for the long term. In case you haven't read it, do yourself a favor and read it.

[BobLawblaw]

Lots of Tether moving around.

[JayJuanGee]

3D printing a Pokémon doll as a special present to my niece. Uncle duties...

Looks like the beast has awoken again!

We are The HoDLers.
We answer to no one, but...
Lambos, Hookers, Blow!

#haiku

That's a bit of a stark contrast, AlcoHoDL, all contained within one post.  

Wow, right before my previous post! Are we telepathically connected?

Believe me, I thought about the contrast issue.

Haiku/Uncle duties conflicting... LOL.

Her daddy is a coiner. Thanks to me. Although he holds much more alts than BTC. I've warned him, but he has fallen into the "BTC too expensive" trap. I hope the incoming bull run will find him HoDLing some good amount of corn.

You may not have received the truly - or would the correct word be "literally?" "internal" memo:   You, me and JSRAW are likely just the same peeps.  

Pray for your brother (or is it brother in law?) that he someday (before it is too late) see the light.  But to each their own and at their own pace.  Many folks want to outsmart the situation, and perhaps he will find a profitable way without losing too much along the way, perhaps.  Not everyone was made to be a bitcoiner at this particular time in the bitcon's life.

I will tell him again this weekend when we'll have our weekly BBQ. He insists "he now understands how this game works" and aims at certain altcoins to maximize profits, with the ultimate goal of using said profits to buy BTC. Let's hope he's right lucky enough to end up in profits in the first place... He may get lucky though, as the upcoming BTC mega-pump will likely drag most major altcoins with it, at least in the short term.

There surely are some folks who are able to pull off some kind of involvement in shitcoins that ends up improving their BTC position, and sometimes they can also learn about the whole space a bit better (and some don't even get too distracted in nonsense).

I am really not too sure how I would handle such a situation, but surely allow him to provide some justification attempts, to the extent that he is ready, willing and able to share that information with you.  It could be productive kind of conversation, to the extent that you might not get frustrated with some of his shitcoin talk and then diverting too much into shitcoin pumpening talk which frequently does seem to include some parts that imply purported deficiencies in BTC.

Of course, some of the best shitcoiners know continue to make sure that they have exit strategies from their shitcoins, and sometimes they do get caught too much into shitcoins in terms of actual finances, but then if they cannot get out or they just begin to believe too much in the shitcoin projects, then it might become more and more difficult to relate to them because their mindset seems to begin to actually believe the nonsense that they are being fed, even while they proclaim that they do not really believe but they are just in for the pumpening of the shitcoin, blah blah blah.

In the 2017 pump, his $4,000 investment (in alts) increased to $50,000. But he never sold anything, and he's now below his initial investment. Let's hope he is wiser this time. For his sake.

Well, there you go.  That's part of the difficulty.

There are a bunch of eth-heads (a kind of shitcoin enthusiast that is out there in the wild) that are looking at eth's pump in the past few months, and they are excited as fuck, and that eth has not even come close to making up for its early 2019 loss relative to bitcoin... so sometimes there can be a bit of a bagholder mentality.. and also, relative to the dollar (rather than relative to BTC) they might actually be UP... which causes them feelings of hopium, too..

I am starting to feel a bit dirty by thinking about some of these shitcoin ideas.. but yeah, if we are interacting in real life, we already likely realize that there is a decent amount of draw that regular peeps are going to experience in terms of shitcoins, and some folks do end up dabbling a bit more than might be for their own good, so frequently, I will try to suggest ways that they can "limit" their shitcoin experiments, which suggestions of limiting might surely fall on deaf ears, as we both seem to have experiences in that direction... difficult to save people from themselves and difficult to really predict that they might not figure out some gambling system that might end up paying off, even in terms of increasing their BTC holdings.

[julian071]

My daughter made this for me today:



She's a hodler too!

[Biodom]

4 best months so far:

12/2017   average price=$14835
 1/2018   average price=$12891
 7/2019   average price=$10665
 8/2019   average price=$10612

#3 is actually July 2020 at 11323 (coinmarketcap) by closing, but higher on coindex index-$11430
Not sure if average is more relevant or less.

Basically, apart from two "frothy" months of 2017-2018 peak, we closed July at the highest monthly.
A 'bronze' so far...going for "gold"  

[JayJuanGee]

If we're going to spend an entire August in 11xxx range... well, that's fine with me.

It's a good range!

Stability is good, sometimes trading in a sideways range for significant period is a good thing. Se were in the $9’000’s for a while before we broke out. I’m cool with being in the $11’000’s for a month or two if it means we break out & push towards $14,000 or something by November.

I personally believe that we cannot really request what BTC should do in the short to medium term, but those of us who have been HODLing for a decently long time (a few years) kind of already recognize that bitcoin is going to do whatever she is going to do.

I understand that you, LFC, are using the word "good," and it sounds as if you could be asserting "good" in a kind of prescriptive way - but there is also a descriptive interpretation of your same sentence to suggest that you are asserting that if BTC stays in this kind of $11k arena for a while, then that allows for BTC buying support to catch up (in a kind of Lindy Effect way), and surely, after the BTC price is in this area "for a month or two," then the BTC price could break out in either direction, but sometimes just staying in $11k price area for such short to medium term will likely cause it to become a bit more costly for the bears to both spend their coins to push the BTC price down and to take chances that they might NOT have enough coins (or lack of buying support from others - or negative BTC sentiment) to be able to actually push BTC prices down low enough or keep the BTC prices down long enough in order to actually be able to reacquire the coins that they had used to push the BTC price down.

I am surely not complaining... and just remembering how much time we were spending toiling in the $7k-ish price arena, and considering that frequently dipping into the $6k-ish area and wondering if $6k-ish buy support might not be able to hold.. and now those $6k-ish buy numbers and dips are feeling like a kind of fantasy price area that a lot of precoiners, fence-sitters and/or BTC accumulators, would really salivate to get some coins in something close to that same BTC price arena that we seemed to have been visiting and toying with on a regular basis in a kind of "quite strongly" feeling, just a few short months ago...

Some of us have seen seemingly similar variation of the picture play out in the BTC historical charts, and some of us have personally witnessed (experienced) such BTC price performance scenarios with similar (not going back), that sometimes is difficult for the precoiners, fence-sitters and early BTC accumulators to relate to such likely "not going back" BTC price dynamics.

[cAPSLOCK]

Lots of Tether moving around.

I know very little about ETH, and own exactly 2 of them, I think, lol. 

But isn't the ETH fee market starting to blow up, and if so does that not cause tether moves (at least the ones where it's on Ethereum, which I think is most of them) expensive?

I just looked it up... looks like it's getting to be something like $0.50.  So not too bad yet.

I would honestly think the Tether foundation (or whatever they are called) would REALLY REALLY benefit from switching issuance of as much USDT as possible to the Liquid sidechain.

[El duderino_]

Lots of Tether moving around.

Lots of BTC moving around as well 

[Arriemoller]

A little help from the german speakers in here please.
I'm sending a letter to DHL Neumünster, and I have only my 70s scchool german to fall back on.
Does this sound ok to you?

Sehr geehrter Damen und Herren.

Ich habe erfahren das mein Paket Nr XXXXXX in Neumünster seit 22. Juli ist.
Bitte untersuchen Sie was falsch ist und senden Sie das Paket schnellstens an mir in Schweden.

Mit freundlichen Grüssen

[Phil_S]

Not sure if average is more relevant or less.

Of course the average is more relevant.

P.S.
I see gold and silver pumping like crazy again. Will BTC follow them, and soon?

[vroom]

Sehr geehrte Damen und Herren.

Ich habe erfahren, dass mein Paket mit der Nr XXXXXX seit 22. Juli in Neumünster ist.
Bitte untersuchen Sie was falsch ist und senden Sie das Paket schnellstens an mich in Schweden.

Mit freundlichen Grüßen

[ProfTP]

Sehr geehrter Damen und Herren.

Ich habe erfahren das mein Paket Nr XXXXXX sich seit dem 22. Juli  in Neumünster befindet.
Bitte untersuchen Sie was falsch ist und senden Sie  mir das Paket zum nächst möglichen Termin an mich in Schweden.

Mit freundlichen Grüssen

[BobLawblaw]

https://twitter.com/BitmexWhale/status/1290707756631183362


Presently observing shorts being rekt.

[vroom]

https://twitter.com/BitmexWhale/status/1290707756631183362

what's slippage?

[wxa7115]

If we're going to spend an entire August in 11xxx range... well, that's fine with me.

It's a good range!

Stability is good, sometimes trading in a sideways range for significant period is a good thing. Se were in the $9’000’s for a while before we broke out. I’m cool with being in the $11’000’s for a month or two if it means we break out & push towards $14,000 or something by November.

This is very important, bitcoin for the most part has gone above the 10k barrier but is has been unable to remain there for long, when looking at the historical data from coingecko this is what I get.

Days in a row above 10k.
From 28 NOV 2017 to 30 JAN 2018    63 days
From 01 FEB 2018 to 01 FEB 2018      1 day
From 16 FEB 2018 to 21 FEB 2018      6 days
From 23 FEB 2018 to 24 FEB 2018      2 days
From 27 FEB 2018 to 07 MAR 2018   9 days
From 22 JUN 2019 to 16 JUL 2019      25 days
From 19 JUL 2019 to 23 JUL 2019      5 days
From 01 AUG 2019 to 28 AUG 2019      28 days
From 03 SEP 2019 to 21 SEP 2019      19 days
From 23 SEP 2019 to 23 SEP 2019      1 day
From 10 FEB 2020 to 10 FEB 2020       1 day
From 12 FEB 2020 to 15 FEB 2020       4 days
From 19 FEB 2020 to 19 FEB 2020       1 day
From 02 JUN 2020 to 02 JUN 2020       1 day
From 28 JUL 2020 to TODAY       8 days and counting
Total: 173 days

Number of days above 10k by year

2017	33 days
2018	47 days
2019	78 days
2020	15 days and counting

When looking at the data by year we see a steady increase on the number of days bitcoin has remained above 10k, if this tendency keeps true then the next 5 months are going to be very interesting for those that have held their coins for a long time.

Finally even if the price traded sideways for some months as long a we beat the previous record of 63 days in a row of bitcoin being above 10k  this will send a powerful message, the days you could buy bitcoin for a price below 10k are coming to an end

Note: The data above represents the opening and not the close for a day, if you want the close you will need to subtracts a day from each date.

Edit: sorry for the formatting I tried to use a table and when I previewed the post everything seemed fine but it did not displayed correctly for some reason.

[BobLawblaw]

what's slippage?

https://www.thebalance.com/day-trading-slippage-defined-1030866

Slippage is what happens when you get a different price than expected on an entry or exit from a trade.

If the bid-ask spread in a stock is $49.36 by $49.37, and you place a market order to buy 500 shares, you may expect it to fill at $49.37. In the fraction of the second it takes for your order to reach the exchange, something might happen or the price could change. The price you actually get maybe $49.40. The $0.03 difference between your expected price of $49.37 and the $49.40 price you actually end up with is called slippage.