Even if he's a troll he does have a point. Nice graphs there netrin!
Can you give an example of where netrin has been trolling? 
Topic: Bitcoin will never reach $20 again - page 13. (Read 40348 times)
At least 30% of $5 isn't as bad as 30% of $15. Well, it is for investors, but doesn't make the price drop look as dramatic.
Someone's not using log-scale charts....
This is why I have liquidated my position in Bitcoins. There is very little upside going forward. No forward moves of late have any traction whatsoever and demand continues to lag. Way too little upside for such a risky proposition so my advice is to move into dollars. Only a significant change in the economy could alter this forecast.
Even if he's a troll he does have a point. Nice graphs there netrin!
It's been staying above and tracing the 365 day SMA for the last few weeks. I'm not certain it's a support level, but it does seem like something
It looks like a line you drew. Does that line just change every time the market changes? And if yes, what's the point?
What netrin said. Also, there's an issue with the 365 day SMA line on bitcoincharts.com only going back to around the 16th of August, so that's why it doesn't go all the way to the left of the chart.
The number of dollars traded has gone down, which is what one expects when prices in dollars goes down. Fewer dollars chasing bitcoins means... supply and demand... lower prices. Even so, trade volume in dollars is higher today than in May when USD/BTC were equal. The number of bitcoins traded has gone up less dramatically, perhaps to be sold for fewer dollars.
$2 million USD / 380 000 BTC = $5.26/BTC. Imagine!
$2 million USD / 380 000 BTC = $5.26/BTC. Imagine!
USD: | BTC: |
Remember, we mine 210,000 (or ONE MILLION DOLLARS /evil) worth of coins every month, even at $5. Whether or not they are sold people feel that much richer on paper, and the market cap grows. Unless bulls step up and start coughing up a LOT of fresh new money each month we're all just trading for an ever shrinking amount of dollars per coin.
Also, if you look at Bitcoin volume on Mt. Gox in currency, not Bitcoins, it's going down. That's striking, especially since there's so much 'bot trading moving the same money back and forth. (In this era of high-frequency trading in the real world, trading volume means far less than it used to.)
It looks like a line you drew. Does that line just change every time the market changes? And if yes, what's the point?
It's a moving average. One year SMA (black) and three weeks (violet). We can bookmark this and track it for the next three weeks:
It's been staying above and tracing the 365 day SMA for the last few weeks. I'm not certain it's a support level, but it does seem like something
It looks like a line you drew. Does that line just change every time the market changes? And if yes, what's the point?
If you're lucky. Otherwise we'll have a repeat of we had last month. Stagnates for a month, then drops another 20-30%.
At least 30% of $5 isn't as bad as 30% of $15. Well, it is for investors, but doesn't make the price drop look as dramatic.
Dammit are we just going to stay here at $4.8-4.9 forever?
I see that someone just put up a massive 7k ask wall that is probably fake.
I see that someone just put up a massive 7k ask wall that is probably fake.
If you're lucky. Otherwise we'll have a repeat of we had last month. Stagnates for a month, then drops another 20-30%. Not sure it'll happen until Thanksgiving though, longs were only brutally punished over long weekends in the past.
Remember, we mine 210,000 (or ONE MILLION DOLLARS /evil) worth of coins every month, even at $5. Whether or not they are sold people feel that much richer on paper, and the market cap grows. Unless bulls step up and start coughing up a LOT of fresh new money each month we're all just trading for an ever shrinking amount of dollars per coin.
Dammit are we just going to stay here at $4.8-4.9 forever?
I see that someone just put up a massive 7k ask wall that is probably fake.
I see that someone just put up a massive 7k ask wall that is probably fake.
It isn't fake if somebody buys through it before its owner can remove it.
Dammit are we just going to stay here at $4.8-4.9 forever?
I see that someone just put up a massive 7k ask wall that is probably fake.
I see that someone just put up a massive 7k ask wall that is probably fake.
Back above $5 now. Woohoo! Good times are back again. Time to sell off all those recently purchased cheap bitcoins. Hopefully the price goes down again. Rinse, repeat, profit.
It's been staying above and tracing the 365 day SMA for the last few weeks. I'm not certain it's a support level, but it does seem like something:
The key is knowing when it's at its maximum. Too many people sell early.
Back above $5 now. Woohoo! Good times are back again. Time to sell off all those recently purchased cheap bitcoins. Hopefully the price goes down again. Rinse, repeat, profit.
Below $5 now...(pats self on back)
maybe the thread should be renamed Bitcoin will never reach $12 again
Can't wait till we hit $20 after Bitcon so I can come back into this thread and LAUGH.
Guess your predictions were wrong?
If project dies that would not be at the end of time.
Can't wait till we hit $20 after Bitcon so I can come back into this thread and LAUGH.
Guess your predictions were wrong?
Can't wait till we hit $20 after Bitcon so I can come back into this thread and LAUGH.
Guess your predictions were wrong?
The problem with all these claims is that, whether you are right or not, you're all pulling these figures out of your ass, with absolutely nothing to base them on. So, if it hits $20, or $8, or $2, yay for you, you guessed correctly. You still didn't actually contribute anything of actual value other than a guess, based on a hunch, based on nothing, with the sole purpose of irritating others.
I know you are, but what am I?
I know you are, but what am I?
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