Bitcoin

Out of context: Reply #1589

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  • drgs-1

    The bottom is near, in low 6ks

    drgs -1Permalink
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    • whatever we think is going to happen, won't happen. only rekt.inteliboy
    • it will go up or it will go downKrassy
    • look at the haterzmonospaced
    • Main-vein hopium, $500 000 by Q4 2023, or I'll eat my own dick
      https://i.imgur.com/…      drgs
    • I must admit that trend line looks nice but there's always a possibility that it breaks to the downside.NBQ00
    • If it breaks (by a confident amount) I'm outdrgs
    • out of curiosity, what exactly is the y-axis measuring???monospaced
    • I only ask because it's not included on the graph, and this is clearly not a price chartmonospaced
    • it is the price, on a log scale
      normal linear scale is not very useful: https://i.imgur.com/…      drgs
    • the log scale is only useful if you want to make it look like it is going up when it isn’t? I mean what’s point if you are not looking at a real price chart?monospaced
    • That chart you just linked isn’t even close to linear either. Why can’t you follow a regular price chart like people do with real stocks and investments?monospaced
    • Maybe I’m missing something but the current price is 50% lower than two years ago with a steady downtrend.monospaced
    • log scale shows multiplicative magnitudes. say you have a graph, on the left it shows price rising from 9 dollars to 10, and on the other end from 9000 to 10000drgs
    • so you have an y axis going from 0 to 10000. You clearly see the change from 9000 to 10000, but you barely see any values lower than 100drgs
    • but in percent the magnitude from 9 to 10 and from 9000 to 10000 is the same, +11%. The idea is that on a log scale both cases are shown equallydrgs
    • every pixel on a linear scale is +1$
      every pixel on a log scale is +1%
      sort of      drgs
    • Amazon linear:
      https://www.tradingv…
      Can you tell what the price was 1 jan 2002?
      log: https://www.tradingv…      drgs
    • The idea that its gonna go to a million or $500k or something, that would depend on millions of new users wouldn't it?yuekit
    • In other words audience for Bitcoin would need to change, it would have to go mainstream. Never understood how that could be predicted from looking at a chart.yuekit
    • Fomo is a helluva drug. We made it to 20k without any adoption. If the price slowly creeps upwards I think we can get the ball rolling againdrgs
    • Active BTC addresses https://bitinfochart…drgs
    • I myself don't have a wallet, don't know how to set it up and don't care to. I keep my stack on the exchange where I tradedrgs
    • If the price crashes completely again, down to $2-4k, I'd be very tempted to buy a significant amount given the number of times it has risen to $10k.yuekit
    • But beyond that I wouldn't be confident in predicting anything :)yuekit
    • not so much new users, but more purchases on a massive scalemonospaced
    • I think the bubble in 2018 was mostly new users though. Bitcoin was getting massive news coverage on mainstream channels like CNBC.yuekit
    • A lot of finance and tech savvy people signed up for a Coinbase account for the first time as a result.yuekit
    • Not saying the same thing couldn't happen again, but I'm skeptical it could ever be predicted by looking at a chart.yuekit
    • A future bubble IMO would probably be more dependent on news events (economic crash?) or new technology/ product launch that takes crypto to a bigger audience.yuekit
    • bubble or no bubble, BTC doubled in 2019drgs
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