Bitcoin
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- NBQ00-1
- drgs0
- TimbeerrrrrrrrNBQ00
- so...should we buy now?uan
- for a small bounce to 7500-7800, but long term the bottom is still not in, i think we will revisit mid 6k in jan-feb 2020drgs
- Hey what happened to those predictions Bitcoin would be at least 20'000-50'000 end of 2019?NBQ00
- those were from mcaffee and not drgsuan
- Yeah I didn't say it was from drgs. Just in general. Somebody else posted some predictions from reddit on here also which now don't look so good.NBQ00
- https://i.redd.it/ul…
Some people held onto their stacks to the very last day of october. That 3k pump made it look possible, lots of dramadrgs - lol, there's no such thing as a real bitcoin prediction, because it's not based on anything realmonospaced
- I'll buy when it falls back to $200 where it belongsKrassy
- I‘ll buy when it falls back to 0.10-0.20 cents where it belongs.NBQ00
- I'm selling my printed Monopoly money. Each dollar for only 20 cents.monospaced
- winningkingsteven
- drgs0
So, we had a small bounce to 7300, I was expecting more, but whatever.
For those who haven't seen it, looking at the full price history of Bitcoin, there is some sort of bedrock support which the corn has enjoyed over the years.
No one knows how it manifests itself, could be either intentional or as a side effect of the programming (how the halvenings/hash/difficulty adjusts itself), or maybe even that the price is controlled, but the support line has held for 10 years.
On a log chart with quadratic time (starting point 25.09.2010 = 0) it looks like a perfectly linear trend:
Trend line:
https://bit.ly/33aJdyUTranslating back to log chart with normal time:
https://bit.ly/2OGaSCHLinear chart zoomed in:
https://bit.ly/2QN4ThWUnfolded log chart (subtracted support) with quadratic time:
https://bit.ly/2rorsyGIf we continue in a straight line down, for me to be convinced that the bottom is in we should touch at least 6250 or below.
I'm not surprised by the drop, but I have to say how soon it happened. I was really expecting us to chop sideways until early 2020. By that time the support will grow to approx where we are now 6500-6600. So, if we bounce from here, chop for a while and revisit the same prices in jan-feb 2020, there is a chance that the bottom is already in, or at least there will be another chance to buy at similar prices.
Either way if you are looking for a long term investment, this could be the time to buy. Ethereum could be an even better option -- it is mostly pegged to the corn price, but they have a big Casper upgrade coming in early 2020.
- too much hope in your post, not enough rekt.inteliboy
- omg, it's amazing and hilarious how much work goes into making a graph appear to be positivemonospaced
- "a log[arithmic] chart with quadratic time" ... that's funnymonospaced
- a log-log chart is close, but not a 100% match. log-quadratic was better. Basically this means you compress the time the further you move from origodrgs
- 1 month in 2012 corresponds to 2.5 months in 2019. Time is slowing down in the Bitcoin universedrgs
- Rallies become slower and hairier, harder to read. With time normalization it looks like the chart to the left, in reality its https://i.imgur.com/…drgs
- If the trend holds I expect the next cycle to climax in late 2023. It will have 4-5 rallies/dips which ladder up to the top, and they each will last 6-9 monthsdrgs
- The growing problem is increase in derivatives and gamefication of Bitcoin. Its literally starting to look more and more like an illiquid shitcoindrgs
- Every time we have some growth, everyone opens a leveraged long, and the pile breaks down. When price is slipping, everyone opens a short, followed by a squeezedrgs
- We are trapped in bearish buying and bullish selling in this longest running ponzi scheme, but I give it a few more yearsdrgs
- don't bother. mono just chimes in here with his clever quips, than gets annoyed at robo for doing the exact same thing in the politics thread.inteliboy
- excuse me?monospaced
- Your first comment was nothing more than a clever quip. Your second was to talk shit to me. The nerve you have.monospaced
- My comment was pointing out the clear undeniable fact that hilarious amounts of work goes into taking a shit chart and make it look good. Care to comment?monospaced
- At least he explained. All you’re doing is being a dick.monospaced
- mate all you do in this thread is shit on btc. we get it.inteliboy
- not really, I just think it's funny when people try to predict it, because it's not really predictablemonospaced
- NBQ00-1
- yuekit1
Bitcoin by Ross: Silk Road founder Ross Ulbricht gives his thoughts on Bitcoin's future from prison
- NBQ00-1
„I made $1m on bitcoin – and lost it again“: https://www.theguardian.com/tech…
- drgs-1
The bottom is near, in low 6ks
- whatever we think is going to happen, won't happen. only rekt.inteliboy
- it will go up or it will go downKrassy
- look at the haterzmonospaced
- Main-vein hopium, $500 000 by Q4 2023, or I'll eat my own dick
https://i.imgur.com/…drgs - I must admit that trend line looks nice but there's always a possibility that it breaks to the downside.NBQ00
- If it breaks (by a confident amount) I'm outdrgs
- out of curiosity, what exactly is the y-axis measuring???monospaced
- I only ask because it's not included on the graph, and this is clearly not a price chartmonospaced
- it is the price, on a log scale
normal linear scale is not very useful: https://i.imgur.com/…drgs - the log scale is only useful if you want to make it look like it is going up when it isn’t? I mean what’s point if you are not looking at a real price chart?monospaced
- That chart you just linked isn’t even close to linear either. Why can’t you follow a regular price chart like people do with real stocks and investments?monospaced
- Maybe I’m missing something but the current price is 50% lower than two years ago with a steady downtrend.monospaced
- log scale shows multiplicative magnitudes. say you have a graph, on the left it shows price rising from 9 dollars to 10, and on the other end from 9000 to 10000drgs
- so you have an y axis going from 0 to 10000. You clearly see the change from 9000 to 10000, but you barely see any values lower than 100drgs
- but in percent the magnitude from 9 to 10 and from 9000 to 10000 is the same, +11%. The idea is that on a log scale both cases are shown equallydrgs
- every pixel on a linear scale is +1$
every pixel on a log scale is +1%
sort ofdrgs - Amazon linear:
https://www.tradingv…
Can you tell what the price was 1 jan 2002?
log: https://www.tradingv…drgs - The idea that its gonna go to a million or $500k or something, that would depend on millions of new users wouldn't it?yuekit
- In other words audience for Bitcoin would need to change, it would have to go mainstream. Never understood how that could be predicted from looking at a chart.yuekit
- Fomo is a helluva drug. We made it to 20k without any adoption. If the price slowly creeps upwards I think we can get the ball rolling againdrgs
- Active BTC addresses https://bitinfochart…drgs
- I myself don't have a wallet, don't know how to set it up and don't care to. I keep my stack on the exchange where I tradedrgs
- If the price crashes completely again, down to $2-4k, I'd be very tempted to buy a significant amount given the number of times it has risen to $10k.yuekit
- But beyond that I wouldn't be confident in predicting anything :)yuekit
- not so much new users, but more purchases on a massive scalemonospaced
- I think the bubble in 2018 was mostly new users though. Bitcoin was getting massive news coverage on mainstream channels like CNBC.yuekit
- A lot of finance and tech savvy people signed up for a Coinbase account for the first time as a result.yuekit
- Not saying the same thing couldn't happen again, but I'm skeptical it could ever be predicted by looking at a chart.yuekit
- A future bubble IMO would probably be more dependent on news events (economic crash?) or new technology/ product launch that takes crypto to a bigger audience.yuekit
- bubble or no bubble, BTC doubled in 2019drgs
- Krassy2
whoa!
- drgs2
40% gains if you bought the dip^
Looking to buy again at 7000-7250
- NBQ001
- guess he lost his private key or seed words.inteliboy
- Old man yells at cloudNBQ00
- Presumably you can keep a copy of the wallet? If I ever had a file/directory/whate... that was essentially = $£, I'd sure as fuck not just have one copy...Nairn
- I've just realised that my client work directory is essentially = £$ and I've not backed up lately.Nairn
- drgs0
- There’s a coffee table book in those images....shapesalad
- drgs0
Gonna dump hard
- or it might pump hardESKEMA
- hmm, good idea to put a stoploss mayhaps in case it does not break 10k and turns around.sarahfailin
- max 10250, then the hardest dump youve ever seendrgs
- EVERmonospaced
- looks like we're at $10,340 and staying above $10k. I'd say next major resistance at $11,500 or $12,000sarahfailin
- I was wrong, but whenever the correction comes it will be harddrgs
- it will dump. and then pump. and so on. But does look like the beginning of an overall bull market.inteliboy
- Milan0
ETH up 20% in 2 days. What happened?
- drgs2
Moved my buy orders up to 7800 since its taking so long
- sarahfailin0
cashed out while it was up to break even. it's going down down down. might not ever come back to $10k
- drgs0
Whales spoofed this rally from ca. 8k. Some whale flashes a 6000 BTC buy order, and then pulls it before the price gets too close to his bid (so without intention of buying). Retail buyers seeing this buy wall go all in...
https://twitter.com/HsakaTrades/…
https://twitter.com/HsakaTrades/…
https://twitter.com/HsakaTrades/…Were they unloading BTC at 10k which they accumulated earlier, filling shorts, or they could be well-meaning, trying to reignite the fomo? No one knows. In any case there are not enough new spot buyers to drive this further
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I think we will have a proper bull run when log support gets close to previous ATH, similar to previous bull runs.
Before the actual bull run there will likely be a pre-bull run rally (red arrows) which get uncomfortably close to previous ATH, something like 18-19k, break down, and then on next try ATH is breached and we detach from log support:
https://www.tradingview.com/x/HD…
The next lowest price for now should be somewhere in high 7ks, and I can even say we are not going below 7k ever again.
You guys will laugh, but I am seriously convinced we will see 250 000 in 2022-2023, but to be clear, I also believe Bitcoin is a ponzi and has no real life use case. I'm in it for the money,
- https://imgur.com/ga…lvl_13
- My guess we'll just keep dribbling around here all year, 2021 will see new highs. Do you watch krown on YouTube? he has some useful TA if trading.inteliboy
- Also funny - btc's main use as of today is to transfer large sums of money for tiny fees. So a tool for rich people. Opposite of what Sakamoto set out to do lolinteliboy
