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

Today something dawned on me:

We can actually start seeing signs of "sellers' exhaustion" in volume and price action, but what is fascinating is that, different from the previous cycle, there is no sign yet of "buyers' appetite" re-appearing correspondingly.

Despair

Don't think so. "Apathy" is more like it, imo.

I think a lot of people are getting tired of the bullshit... and probably thinking that BTC prices should be more in line with the fundamentals.. in the $750-$850 arena.

$750 valuation based on what?

Ya based on what?

For me everything seems to be pointed toward $9.99

I already addressed this value basis question in another post.

But if you think the current value is $9.99-ish, then you seem to really be living in a fantasy land world, and possibly, you do NOT understand various bitcoin fundamentals.

I do NOT claim to be nearly an expert on everything about bitcoin, but there is a lot of upward potential that may or may not be realized.. depending upon how world events play out.

I am betting on BTC prices going up, though, and I believe the odds are pretty good... that we are going to be seeing upward price momentum rather than downward momentum - even though it is possible that we will continue to see downward price momentum for a couple of more months...

Does your valuation take into account the fact that Bitcoin mining as we know it will collapse very soon?

NO it does NOT.

I did NOT know that interesting "fact."

Can you explain when and how and why? And, what are your sources for your information - b/c I have NOT seen any news about this happening.

A TH/s miner pretty well uses up an entire 15A circuit breaker in your home.

How many spare 15A breakers do you think there are in a home with a 100A service?

Yes, it is already known that mining is becoming more power intense and seems to be moving towards the bigger operations and likely towards the more wealthy performing the mining. That is a known progression that some people (including miners) do NOT like, but that "fact" does NOT signify that mining will collapse any time soon - and if this is foreseen to be a longer-term problem, then likely actions are going to take place to address the matter so that this issue does NOT cause a collapse of bitcoin. So, in essence, your post is full of disinformation by misstating facts and then exaggerating the significance of any facts that are contained therein.