Unless you're looking at a logarithmic chart, you're missing most of the market action. On a linear chart, you will only see the move up to the last ATH and the most recent drop. That makes it look like a one-time bubble. Switch to a logarithmic view and you can appreciate the multiple rallies. You will see that, on a percentage basis, the last rally to ATH matches up with all the rest of them. It's nothing out of the ordinary.
Topic: are people not reading the same charts i do? - page 2. (Read 2394 times)
What you say has a point but one thing I would like to point out is that regardless whether the 1000 price was indeed manipulated or otherwise, that was almost like 2 years ago. So if you compare the adoption rate, infrastructure, and everything, now and then, these has already changed. Plus you haven't factor in the halving which should take place in about next year. So provided that the demand maintains at current level, reduced supply would have positive effect. I never imagine it would go up so fast like what we saw in 2013 during the Mt. Gox era, but still the upward pressure is there.
Hi
I see lots of posts in the recent weeks that the price of bitcoin has stabilized and/or is on the move upwards.
whenever I see posts like this I go back to any chart the shows the price of bitcoin for all time ie not just 1 day , one month etc.
it seems that the big rise to 1200 was a con - either by gox themselves or someone who hacked them.
so I see most of those that rode it up have to slowly take most of the hit ie sell off most of their coins as they were speculative buyers.
so todays price of us$272 when you draw a horizontal line across from the chart you will see it went through this price level about nov 4 2013 on the way up when it was zooming each day.
I do not think all have taken the hits they have to take so there is more selling pressure to come and i see no reason for bitcoin to not got go very low over the next year or two ie to a $50 type low.
speculators will have already factored in what the winklevoss boys and others are working on etc and it has not really kicked up the price so I see no reason to believe the price will not just slowly fall away.
what do others think?
I see lots of posts in the recent weeks that the price of bitcoin has stabilized and/or is on the move upwards.
whenever I see posts like this I go back to any chart the shows the price of bitcoin for all time ie not just 1 day , one month etc.
it seems that the big rise to 1200 was a con - either by gox themselves or someone who hacked them.
so I see most of those that rode it up have to slowly take most of the hit ie sell off most of their coins as they were speculative buyers.
so todays price of us$272 when you draw a horizontal line across from the chart you will see it went through this price level about nov 4 2013 on the way up when it was zooming each day.
I do not think all have taken the hits they have to take so there is more selling pressure to come and i see no reason for bitcoin to not got go very low over the next year or two ie to a $50 type low.
speculators will have already factored in what the winklevoss boys and others are working on etc and it has not really kicked up the price so I see no reason to believe the price will not just slowly fall away.
what do others think?
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