Here is the chart of the monthly low since 01/11.
I redraw it, you have the monthly low in blue, the increase rate in orange.
Topic: Lost my faith - page 2. (Read 7001 times)
Here is the chart of the monthly low since 01/11.
I redraw it, you have the monthly low in blue, the increase rate in orange.
This was a fascinating chart and I checked out the numbers for BTC since 1/2011. Was shocked to see that this trend has continued for quite a while:
Google Spreadsheet with Monthly Lows Summary Data
Interesting findings:
Google Spreadsheet with Monthly Lows Summary Data
Interesting findings:
- 23 of 29 months since the beginning of 2011 have seen an increase in the monthly low price
- We are in the 16th consecutive month of an increased monthly low price.
- The average change from one monthly low price in this time period: +35.70%
Nice spreadsheet -even assuming the increase per month settles at only 10%/month, that would still see the price of BTC rise to around 160 USD in 6 months from now...
This is a good indicator I never considered. I'm glad you brought it up and it really makes sense. Even through all the shit and bad news bitcoins low point continues to rise.
The markets are losing it too. $71 USD and dropping... 
Show me where you see $71 USD. Oops.. I meant 81. lol and dropping..
"dead cat bounce" now... almost back to 81
The markets are losing it too. $71 USD and dropping...
Show me where you see $71 USD. Oops.. I meant 81. lol and dropping..
DAFAQ^^^^?
I'm afraid I've lost my faith in Bitcoin. Somebody save me..
thats because you are reading the high price which is always volatile.. check out the monthly low price.. you will see there is a constant rise. the low price is more of the indicator of true value and growth indicators.. the high price is just pure speculation and should be ignored for long term investors
That constant low price rise each month is now something you can disregard.
The markets are losing it too. $71 USD and dropping...
Show me where you see $71 USD. 
I have great faith in Bitcoin's concept and the crypto behind it. I have no faith in the majority of Bitcoin's users and developers to have an inkling about who and what they're up against.
me too
which perhaps is better lest they decide not to travel down the road otherwise. this thing needs numbers.
I'm afraid I've lost my faith in Bitcoin. Somebody save me..
thats because you are reading the high price which is always volatile.. check out the monthly low price.. you will see there is a constant rise. the low price is more of the indicator of true value and growth indicators.. the high price is just pure speculation and should be ignored for long term investors
+1 this
Unfortunately I seem to buy higher than the lows.
I guess the new "low" should eventually catch up to my average bitcoin price I paid of $120. Hopefully anyways . . .When USD's reign is over (AND IT WILL)...
CRYPTO will take the crown..
FIAT and cryptos can coexist for a long period of time, without any need for one of them to rule the other. its a silly understanding of things that there always has to be one thing/currency that rules the others.
and yes cryptos will succeed, but its not written that it has to be BTC. BTC hat many flaws (i.e. 51%-problem) that remain unsolved and that makes it vulnerable.
in fact the 51% issue and the possibility that the network gets stuck after a big price drop is a very strong argument against BTCs. when i first heard about BTC i was told that its unhackable, absolutely safe and reliable. now i know that its not so relialbe. the network could be easily attacked and wrecked...
BTC will rise again and will succeed, but longterm another currency is needed.
why do you think coinbase is a "goldman sachs operation"?
It prolly is...
its funny to see how everytime the btc price dips. those conspiracy-idiots come into play and are telling everybody that goldman sachs is the reason.
I'm afraid I'm lost my faith in Bitcoin. Somebody save me..
Quoted for year 2018, when Bitcoin is worth more than USD 100.000 each (if USD still exists..)
Do you think it will get back to $100.00 by 2018?
The markets are losing it too. $71 USD and dropping...
This was a fascinating chart and I checked out the numbers for BTC since 1/2011. Was shocked to see that this trend has continued for quite a while:
Google Spreadsheet with Monthly Lows Summary Data
Interesting findings:
Google Spreadsheet with Monthly Lows Summary Data
Interesting findings:
- 23 of 29 months since the beginning of 2011 have seen an increase in the monthly low price
- We are in the 16th consecutive month of an increased monthly low price.
- The average change from one monthly low price in this time period: +35.70%
Nice spreadsheet -even assuming the increase per month settles at only 10%/month, that would still see the price of BTC rise to around 160 USD in 6 months from now...
Thanks! I was surprised by a lot of the information. Seeing the percentage changes was pretty staggering.
Out of curiosity, I also took the average decrease during the 4 consecutive months from 8/11 - 11/11 (-32%) and applied it to our current low of 88, just to test out a few months, and it showed a drop from:
June - 88
July - 60
August - 41
September - 28
October - 19
Honestly I don't see it dropping below 50 on even the worst of slides, but if we do experience a similar set of consecutive lows for the next 4 months it would put us at $18/BTC - which is still even with February's low of this year!
This was a fascinating chart and I checked out the numbers for BTC since 1/2011. Was shocked to see that this trend has continued for quite a while:
Google Spreadsheet with Monthly Lows Summary Data
Interesting findings:
Google Spreadsheet with Monthly Lows Summary Data
Interesting findings:
- 23 of 29 months since the beginning of 2011 have seen an increase in the monthly low price
- We are in the 16th consecutive month of an increased monthly low price.
- The average change from one monthly low price in this time period: +35.70%
Nice spreadsheet -even assuming the increase per month settles at only 10%/month, that would still see the price of BTC rise to around 160 USD in 6 months from now...
I'm afraid I've lost my faith in Bitcoin. Somebody save me..
thats because you are reading the high price which is always volatile.. check out the monthly low price.. you will see there is a constant rise. the low price is more of the indicator of true value and growth indicators.. the high price is just pure speculation and should be ignored for long term investors
This was a fascinating chart and I checked out the numbers for BTC since 1/2011. Was shocked to see that this trend has continued for quite a while:
Google Spreadsheet with Monthly Lows Summary Data
Interesting findings:
- 23 of 29 months since the beginning of 2011 have seen an increase in the monthly low price
- We are in the 16th consecutive month of an increased monthly low price.
- The average change from one monthly low price in this time period: +35.70%
thats because you are reading the high price which is always volatile.. check out the monthly low price.. you will see there is a constant rise. the low price is more of the indicator of true value and growth indicators.. the high price is just pure speculation and should be ignored for long term investors
> check out the monthly low price.. you will see there is a constant rise.
This claim can be debunked at this link: http://bitcoincharts.com/charts/mtgoxUSD#rg60zigWeeklyzczsg2012-01-01zeg2012-02-29ztgSzm1g10zm2g25zl
February 2012's low was less than January 2012.
Nobody was looking at the artificial dump/short low... he is reffering to average trade value on the incline..
No he's not. He mentions "monthly low", not any kind of average.
Im pretty sure we will hit 60 within a week from now, people are losing faith in bitcoin faster than they ever gained it. Mainly because of the bad news surrounding it and the promise of a stable and more rare usd
.
.
I dont see us ever hitting 60 again. People are not losing faith, Stability in the Bitcoin economy is a sign of strength. Watch us shoot up to 500$+ a coin within the next year.
Bitcoin is the first a global commodity that is available to anyone with internet access. It is able to function as the first stateless world currency. Cryptographic technologies are going to bring on globalization in a way that most of us didn't expect, and the truth is that the reality is ours to construct. Bitcoin is so much bigger than any single group that uses it. Find your faith and embrace the possibilities. 
that would have been the best bitcoin speech i seen. if used in the future though can you please change the word commodity for the words asset or currency. (you choose)
as a commodity is a raw material that has a world wide standard of quality, used in the production of other materials.
then you will have a great and accurate speech
If other assets are built on top of bitcoin, does that not make bitcoin a commodity. I am of the belief that bitcoin does indeed serve as a an "information" commodity.
I'm afraid I've lost my faith in Bitcoin. Somebody save me..
Entering fear / capitulation.
- bubble image snipped.
My guess is that you are correct. The main question is what is the level and decline pattern to get to 'despair'? I had guesstimated that the cycle would be shorter this time and get us into the $40's. Now I am more inclined to suspect that it will be of similar duration to the last time and take half a year getting well below the previous peak. That is, into the $20's. And the next leg up (hopefully into the 4 figures) will be a couple years out.
Of course significant external events could change the 'natural' dynamics significantly. So if we see the Cypress solution employed in other EU countries, for instance, I could see it short circuiting Bitcoin's native cycle and we could be off to the races.
I'm afraid I've lost my faith in Bitcoin. Somebody save me..
thats because you are reading the high price which is always volatile.. check out the monthly low price.. you will see there is a constant rise. the low price is more of the indicator of true value and growth indicators.. the high price is just pure speculation and should be ignored for long term investors
> check out the monthly low price.. you will see there is a constant rise.
This claim can be debunked at this link: http://bitcoincharts.com/charts/mtgoxUSD#rg60zigWeeklyzczsg2012-01-01zeg2012-02-29ztgSzm1g10zm2g25zl
February 2012's low was less than January 2012.
Nobody was looking at the artificial dump/short low... he is reffering to average trade value on the incline..
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