Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Bitcoin "lost' temporary correlation with stocks...some people would say that there was never a correlation, but I would suggest that sometimes there is and sometimes there isn't.
That said...stocks covered all of the weekly losses today and Dow closed at the ATH. Bitcoin had a smallish move.
One explanation would be that bitcoin correlates the most with liquidity and mr market "decided" that FED would provide less liquidity going forward because UE went down.
Obviously, the move up today in btc was much more timid than the move down (on ME "jitters") earlier in the week.
Observing...
I would say: Snap out of it. You are suffering an illusion. That said...stocks covered all of the weekly losses today and Dow closed at the ATH. Bitcoin had a smallish move.
One explanation would be that bitcoin correlates the most with liquidity and mr market "decided" that FED would provide less liquidity going forward because UE went down.
Obviously, the move up today in btc was much more timid than the move down (on ME "jitters") earlier in the week.
Observing...
You might either need a bat slappening or perhaps if you just zoom out a wee bit MOAR better, then you might gain a bit of a better perspective on "what is dee cornz?" also known as honey badger, also known as king daddy, also known as my lil fiend, also known as bitcoin.
All this time "observing" and you still seem to be struggling with what we've gots here. Hopefully, you have not failed/refused to pee pare ur lil selfie for UPpity this time, and gotten over some of that there historical (or should I say hysterical) whimpiness.
you asked for it..
I think that is called "consolidation." Do you expect the BTC price just to go shooting up without any corrections, and surely there are some BIGGER players entering the bitcoin scene in the past year-ish, and the extent to which "they" are able to change anything, they are surely going to try.. so maybe we got a bit of a premature pump in this cycle? (the pre-halvening pump) so instead of consolidating prior to the halvening, we end up consolidating after the halvening at a higher price level than we otherwise would have had consolidated....
I am not going to proclaim to know exactly what is going on, or where we might be going, since I am kind of a 50/50 kind of guy, but really think that bitcoin is all of a sudden become correlated with the stock market? even if we have some short periods of apparent correlation, which yeah could also relate to liquidity, we are not completely outside of having relations with traditional assets, but still bitcoin remains a new asset class that some traditional financial folks (institutions) are trying to plug into their systems, and they might have temporary success and they might even be able to push the BTC price in one direction or another for periods that are longer than some of us might expect or longer than some of us can stay solvent, but still are they going to be able to keep holding the beach ball under the water...especially when some unexpected waves might come in and throw them off balance?
Illusion? PlanB has an illusion-calls a flat line a "bull market",
He's probably correct. Do you think that we just bounce back and forth between bear and then bull and then bear all within a cycle? The cycles still seem to exist in the land of the cornz, until they don't but I am not going to assume the disappearance of the cycle merely because the BTC price is getting pushup down and/or sideways rather than going up as many of us would prefer.
I am just bored to smithereens.
That's your problem. All this time in dee cornz, and you haven't gotten used to these kinds of times? I recall that you have some expenses, and so what it is not a BIG deal if you have to let go of some corn at a time that is less preferable than you would like.. .. and as long as you are not selling more than you need to, you may not even be that prejudiced by shaving off some sats prior to your intended timeline.
EDIT: did you guys read about some Canadian guy who had a round-trip going from 88K to 415 mil ( ) and back down to essentially zero using TSLA calls and puts?
A strange story...he is suing RBC for, apparently, giving him a bad advice, whatever this means.
) and back down to essentially zero using TSLA calls and puts?A strange story...he is suing RBC for, apparently, giving him a bad advice, whatever this means.
I am going to bow out of this one.