Topic: Here we go - page 6. (Read 11708 times)

I take it that's your way of saying that I'm right :)

sometimes I agree with you. but only sometimes

That's a simplification. More specifically: an unhelpful simplification.

Bitcoin price increased over the long term in a way that lends itself to view it as exponential growth. That does not mean: 1) that it always grew exponentially at all times (in fact, there are long stretches that are very clearly modeled best by a linear growth function), 2) that a single exponential growth function governed the price, 3) there are stretches of time where, conceivably, super exponential growth took place.

the tl;dr: sometimes it makes sense to look at price on a linear chart, sometimes on a log chart. the "broader" the view (e.g. the entire history of bitcoin trading), the more likely it is that the log view is more informative.

Well if you can see OP chart we are heading to the moon - but we still need few more weeks to get there

From OP predictions we can clearly see - one more week and a rally will begin! =]

I must say I am starting to feel Bearish

linear growth - linear graphs
exponential growth - log charts

bitcoin grows exponentially (at least it did until now, and it will probably continue to do so for a while), so to see patterns use log charts.

I think its spelt analist

I didn't say nothing against logarithmic charts or if I use them or not.
I just stated something that I think is a fact on bitcoin trading. Go to trading view: the default chart of its system is linear and the charts that the most followed analysts post are linear.

I was told my tulips will grow so high i can climb them and steal golden goose from Giants living on the Moon.

So what happened? I was told there would be a moon.

when you think TA is a "prediction" of accurate rates you seem to be not too familiar with TA.
TA Shows only posssible Price movements and ranges but not secure ones

If everything was this "predictable" then nobody would lose money investing ever. There is 0 guarantee it will hit 5k.

sorry,but that`s wrong.Just the other way round.
Because in short term timescale you won`t see any differenc in log or linear use. But in longterm or even midterm ( 3 to 9 months) linear is misleading.
The op`s Chart is excellent.

lol

no one claimed they are inviolable, that doesn't make them invalid though.

It's speculation for a reason, stop chanting "past results are no guarantee for future gains"we all know that, but this is the speculation section, if you don't like speculation don't go here.

The only way you can make an educated guess for what the future might bring is looking at the past. Otherwise you're just pulling up numbers out of your ass. Speculation is never scientific and no one claims it is.

And thats when Fundamental Analysis comes into the pub and says: "Oh, wait."

The more that people believe in the inviolability of these long term trends, the greater the destruction that will be wrought when they fail. People will be consternated, searching hopelessly for direction from a compass absent its magnetism.

My first reaction to the Op comments was that he somehow mixed a linear and a logarithmic chart in order to drawn the lines. But I already verified he didn't, so the chart is legitimate.

I use log charts. Of course they are useful as bitcoin follows a logarithmic adoption curve; it's silly to say that traders don't like them.

My take on all this bull vs bear nonsense is that I don't see why we couldn't have another exponential adoption sometime this summer. The fact is we see repeating "bubble" patterns because of Bitcoin's limited supply combined with human psychology. You can find miniature versions of these in the altcoin markets. Why not? Infrastructure/business continues to be built and adoption is increasing. Wall Street may start getting their feet wet. Turns out they are pretty risk-averse and love regulation, but this technology is just too interesting and lucrative to resist. The investment banking guys I've talked to are interested (very much so) but don't understand how it works and the implications of its digital ownership protocol. That will change with time.

So China might ban it again. So what? We lose $50 in value. It's largely been priced in anyway.

The way I see it, the internet gave us decentralized information exchange. Now in Bitcoin we have a technology that is decentralized digital ownership and property transfer. Sure governments don't like it... big deal... they can get on board or we'll simply wait for the current luddite leaders to die in 20 years. Blockchains will still exist and will evolve and mature faster than centralized leviathan institutions can keep up.

That chart is a Logarithmic one, while most traders use linear Charts. I'm not saying  Logarithmic charters are not legitimate, just saying that most traders don't care for them.

Anyway, under its own terms, a breach of the 440 would leave bitcoin on a very fragil situation.

Remember also that to breach again the 1156 (bitstamp), it would be necessary all the money that went sideways since that value. And to go above, it would be necessary a massive influx of money: and, this time, it couldn't be chinese.

Nah, I was just trying to find an extension of this chart: https://www.tradingview.com/v/7YEmxS3K/

so I made one myself, I suck at charts, that was the first one I have done in the 4 years I've been following Bitcoin