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

Next attempt on ATH
initiated today
A Haiku Sunday

Got a message from one of my friend who is in USA (also a non Bitcoiner) that Bitcoin is at 70k.

My simple reply, Bitcoin is the king.

I'm sure that your friend will find your message to have had been very helpful... It is almost like saying: "I told you so," but in a more subliminal way.

The issue with people is that they are attracted to bitcoin only when its bullish or at its ATH. No matter how much we tell them about Bitcoin during bear season they seldom pay attention.
Since my friend has finally decided to invest in Bitcoin. I have given him advice to monitor the market now and its not a good idea to invest huge money at once while Bitcoin is at its ATH. If someone is new to Bitcoin and has no future plan then he better wait for a while. Just my few Satoshis.

The only way to prepare for UP is to have some satoshis, so if someone is new to bitcoin, the first thing they should do is buy some satoshis. Waiting does not prepare them for up..

Quote from: philipma1957 on March 11, 2024, 05:42:43 PM

Quote from: JayJuanGee on March 11, 2024, 05:00:56 PM

Quote from: goldkingcoiner on March 11, 2024, 07:47:23 AM

Good morning WO!

I spy with my little eye.... 71k!

So we have now entered no-mans-land. The new frontier (ha, get it? Because Star Trek).

Can't wait for us to pass 100k, finally! Those ETF's sure are doing their job Cheesy

. Good.

We entered no man's land at $55k..and it probably lasts until about $82k-ish... give or take a couple k..

Sure, this would be called price discovery (and yeah probably in that regard the new frontier of places not yet explored) since all time highs are being reached.. and hard to even come close to proclaiming that we are approaching either blow off top territory or even over exuberance.. yet.. .. but yeah, if we go to $90k in the next 12 to 36 hours, I, personally, would consider that to be over exuberance... each person likely has their own definition and that's why some people are still waiting for a 50% correction.

We are not over exuberant. Yet.

Mining pays 12 cents a th

or 6 cents in a month. That 6 cents is very shitty for mining.

But if we were at 123456 right now we would be at 20 cents a th soon to be 10 cents a th at the 1/2ing

if we are at those numbers after the 1/2 ing it would be uncharted highs for miners right after the ½ ing.

Soon to see what happens

King daddy prices do not follow hashing power and/or mining costs. .. so mining costs are almost irrelevant in terms of determining whether the BTC price is overexuberant or not.

For example if the BTC price moves up faster than buying demand can keep up, then that could be considered overexuberant.

So for example about two weeks ago when the BTC price went up from $52k to $64k in a matter of about 50 hours. That was a bit overly exuberant, so the correction from that was somewhat anticipated.. and yeah, we have other examples when the BTC price moves up faster than the buying support can keep up... so then we get a correction. and the downward manipulators will likely try to push it down as far as they can and keep it there as long as they can.. but they have not been having much luck with that since October. and maybe even worse luck with that since a couple of weeks ago when we entered into noman's land.. so even when we entered into noman's land with guns ablazing, there have been a decent number of relatively good sized corrections that have been allowing the buying to keep up... and yeah I cannot have any kind of certainty if we will completely get through noman's land without any major correction (such as greater than 20-30% and/or lasting, but it seems that the odds are slightly more in favor of UPpity in zones like this... and it does not have anything to do with hashing power.. The miners follow price like lil doggies following their owner when it is time to eat.