For more info on this, see https://bitcointalk.org/index.php?topic=49264.20
Specifically page 2 and onwards, I have drawn the trendlines in a variety of ways, and explained what they indicate.
Topic: bitcoin price spike due to us dollar falling against asian currency? (Read 914 times)
October 28, 2011, 07:53:11 AM
October 28, 2011, 07:31:29 AM
bitcoin price spike due to us dollar falling against asian currency?
as us dollar has been falling this few days, thus the price of bitcoin has increased, i suspect
as us dollar has been falling this few days, thus the price of bitcoin has increased, i suspect
Yeah but bitcoin has increased over 50%, which is far above these changes. Bitcoin has broken the long term downward trend (depending how you draw the trend lines) , which has given people confidence again.
October 28, 2011, 07:27:06 AM
It's just retracting the 70% of the jump down - just like in all previous cases: 
October 28, 2011, 07:24:05 AM
bitcoin price spike due to us dollar falling against asian currency?
as us dollar has been falling this few days, thus the price of bitcoin has increased, i suspect
as us dollar has been falling this few days, thus the price of bitcoin has increased, i suspect
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