Remember this, guys?
Now look at this:
Now, at what point do you think we are?
We are at 120 where we were at 12 on the down slope of 2011... By this conclusion, someone can expect it could go down to 20 before uptrend to 2500.
My point of view is that it is the worst case scenario, and I've hard time imagining such a low of 20. Bitcoin are way more evolve compared to 2011.. 20 seems almost impossible, except for a long list of really bad thing happening to BTC in the next year.
I buy as I can below 100, and dont want to sell any under 1000, even 2000...
BTC under 50 is part of history,
BTC under 100 are real bargain cheap coin, and are rare occasion
I've bought a lot under 100, and sold much over 200
I'll buy alot under 1000, and sell only some over 2000 !
-- Perma-bull
+1
Hey guys, I'm OP's alt account, I can't believe you are all so stupid for falling for my failtroll FUD trick! Classic graph comparison, oldest trick in the book! Here's how it's done:
1) Take graph of classic bubble anatomy; include labels.
2) Take graph of BTC up to and following April crash.
2a) Zoom out 300%
2b) Pan as far left as possible so it looks like very little price action occurred following BTC bubble compared to real estate bubble.
You'll notice that now, the zoom/pan functions allowed me to make it appear as if the price action following the BTC crash, which is actually nearly identical to the "classic bubble anatomy graph," is insignificant and we are still going to crash down to $2, the "Real bottom."
If you zoom back in and pan so that the segments of space with little price action before the crash are actually comparable (rather than a ridiculously unforgivable amount of zero action displayed on the leftmost 3/4 of the BTC graph compared to almost none of the real estate graph) you'll see that we've already hit most of the points in the "bubble graph." Yes, denial, yes, "new normal," yes, "real bottom" and we are right around "real capitulation."
Now I'm actually a schizo with MPD, so don't tell my other half (the real OP on my alt account) that I gave out his secrets or his hopes of using the speculation subforum to talk down the price will be completely shot.
Sorry OP, I know I can be an unforgivable asshole. For the record, I don't think you actually went into GIMP and did all this, nor do I think you're a troll trying to talk down the price. I just think it's funny that you present two graphs as comparable simply because they both have a 1y timescale, when the amount of insignificant pre-bubble price action is like 3/4 on one of the charts and almost none on the other chart. I might be an unforgiveable asshole but THAT is unforgivable chart-fail
It seems like every other week the denizens of Bitcointalk learn this very important lesson: Using the zoom/pan function (or, the original image compilers using this function and an innocent yet passively complicit bystander such as Razick posting it) you can make any graph look like any other graph. Why don't I just shove up a graph of AAPL with it's inverse double bottom and say we're going back to $260 in a couple days?
I did not pan at all, it's a one year chart from blockchain.info that includes ALL data as of yesterday. The anatomy of a bubble was made elsewhere and if you actually read my posts, there have been some other charts posted suggesting that the full "cycle" is just about over and I agreed that that was likely.
I know I can be an unforgivable asshole. For the record, I don't think you actually went into GIMP and did all this
Yea, pretty much, and I didn't. I was set to go all in at the price of $102 since I'm actually somewhat bullish at that price, but I saw this chart elsewhere and noticed the similarities to the 1 year chart. I didn't even make a claim about it, I asked for people's opinions with the title "Is this concerning"
nor do I think you're a troll trying to talk down the price.
You may not, but responding to my other critics who do, that is a completely idiotic statement: Yea, I might be able to save $0.00000001 per Bitcoin after my minuscule influence is priced in. I even said in an
interview quite mildly that "I wouldn't be surprised if prices declined ... [but] ... long term I expect prices much higher than the $266 peak" and got similar responses. Yea--that will drive down the price.
Funny how in the Bitcoin forums you can't even be a cautious bull, like me, you have to be a raging lunatic bull: "$1,000,000/BTC by May 31!!!"
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TL:DR Thoughtful individuals, see the charts and draw your own conclusions.
. 