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

So zooming out to 1d on the chart, from 5/24, bitcoin is just looking like your typical PnD bubble that we've seen so many times before. A blow off top, followed by long legs down.

Looks like it could eventually deflate all the way back to ~450. Undecided

I think so its slowly going down to healthy ground...to 400$..till next pump Grin

400$ ... that is impossible ... maybe only if the dollar doubles its value.

Miners where complaining when it was $300-350$ that it is too low, and they said they need at least $400+ to be prosperous. Meaning that their cartel, with half of the coins they where getting then making them now to need at least $650-700$ to be relaxed and $900+ to have no worries. But considering that there will be barely 4 million more coins in the next 12 years that will be semi-easy to mine, their supply is on thin ice till mass adoption. Meaning there will be a time when they will hold all and stop selling.

Hope You are right

I trust my gut about every big life decision I take... and also I consult my shaman.
But till now I was pretty prosperous with bitcoin so... dunno if I'm going to be wrong! For example it will probably try to dip to $500-550$ again... but I'm sure that will last less than 5-15 minutes. But I'm not sure if that will happen, because from what I see everyone is greedy and there might be no small dip before the pumping starts. I also saw that when the bullion silver market moves, bitcoin moves as well.

You are very optimistical ...400-450 is the dip....if I can load btc at 200-300 euro last sept oct all I can, think many whales do exactly the same and many of them now want more cheap btc and 400-450 is the price they let go down..but many of this year buyers think price crash and do panic sell to 400..and by the way many of miners are set in china (in some regions electricity is free) and in the former teritory of the Russian Federation where electricity is very cheap..