|
Title: Who is the dead cat? Post by: briguy37 on July 01, 2015, 04:01:57 PM Is Bicoin the dead cat bouncing?
https://i.imgur.com/ljMy0Bt.png Or is fiat the dead cat bouncing? https://i.imgur.com/Yz2ALRe.png Who is the dead cat? Title: Re: Who is the dead cat? Post by: RodeoX on July 01, 2015, 08:08:30 PM I see a lot of talk about the "dead cat bounce". This has never happened in the history of bitcoin. A DCB is when a STOCK that is spiraling down to dissolution finds a little support for a little while. It is still going to go to zero, but bounces up a bit before bottoming out. Bitcoin is nothing like a stock. Stocks are issued by a central authority to take in needed money. A business that is unsuccessful at selling it's stock could collapse and become valueless.
Guess what. Bitcoin does not need your money, it's a computer program and works just fine no matter what the price is. That means it will not drop to zero (unless it becomes broken, of course). It can go down and up a million times but is not going to die. What many here like to call a DCB is actually just a boring market correction. Title: Re: Who is the dead cat? Post by: Bicmac1973 on July 01, 2015, 08:14:38 PM I see a lot of talk about the "dead cat bounce". This has never happened in the history of bitcoin. ... That is not quite right: as MTGox crashed, it waved bye bye with a beautyful dead cat bounce. But that was only on Gox and on no other exchange. Title: Re: Who is the dead cat? Post by: RodeoX on July 01, 2015, 08:20:35 PM I see a lot of talk about the "dead cat bounce". This has never happened in the history of bitcoin. ... That is not quite right: as MTGox crashed, it waved bye bye with a beautyful dead cat bounce. But that was only on Gox and on no other exchange. Gox is certainly dead. But their business (Tibanne Co.) was not traded publicly (at least I think not). The bitcoin they traded there are still in circulation and going strong. So we can only identify a DCB in retrospect after the stock has "died". That is to say has a value of zero. Bitcoin has never died and shows no indication that it is going to. Title: Re: Who is the dead cat? Post by: Bicmac1973 on July 01, 2015, 08:37:08 PM It was just a little sophistry, bitcoin as such never had a DCB. On MtGox it occured after BTC withdrawals failed, nonetheless it was nice to see how it would look like, if BTC would ever go to zero.
Lets just look at the current bullish development and be happy. ;D Title: Re: Who is the dead cat? Post by: unholycactus on July 01, 2015, 08:45:17 PM Flipping a graph like this is certainly one the most retarded ways I've seen to do analysis, made me laugh. Also you should probably review the definition of a dead cat bounce.
Title: Re: Who is the dead cat? Post by: bit tired on July 01, 2015, 10:38:49 PM Flipping a graph like this is certainly one the most retarded ways I've seen to do analysis, made me laugh. Also you should probably review the definition of a dead cat bounce. There are differing definitions, investopedia doesn't require a dead cat bounce to result in the price going to zero. It only requires the price to drop below its prior low after a little bounce. Quote INVESTOPEDIA EXPLAINS 'Dead Cat Bounce' A dead cat bounce is a price pattern used by technical analysts. It is considered a continuation pattern, where at first the bounce may appear to be a reversal of the prevailing trend, but is quickly followed by a continuation of the downward price move. It becomes a dead cat bounce (and not a reversal) after price drops below its prior low. This is one of my favotite diagrams showing a dead cat bounce. I like the way the cat's drawn. http://s28.postimg.org/fpj158ax9/dea_cat_bounce.jpg Title: Re: Who is the dead cat? Post by: leopard2 on July 01, 2015, 11:48:40 PM Flipping a graph like this is certainly one the most retarded ways I've seen to do analysis, made me laugh. Also you should probably review the definition of a dead cat bounce. Bullshit, that is the most refreshing view I have seen in awhile. In fact the upside down graph looks like a deat cat bounce (in a downward trend) So OP is right on the spot with the definition as well. Doing all sorts of funny things with graphs is normal in technical analysis btw. ;) Title: Re: Who is the dead cat? Post by: Borisz on July 02, 2015, 12:02:52 AM I see a lot of talk about the "dead cat bounce". This has never happened in the history of bitcoin. A DCB is when a STOCK that is spiraling down to dissolution finds a little support for a little while. It is still going to go to zero, but bounces up a bit before bottoming out. Bitcoin is nothing like a stock. Stocks are issued by a central authority to take in needed money. A business that is unsuccessful at selling it's stock could collapse and become valueless. Guess what. Bitcoin does not need your money, it's a computer program and works just fine no matter what the price is. That means it will not drop to zero (unless it becomes broken, of course). It can go down and up a million times but is not going to die. What many here like to call a DCB is actually just a boring market correction. I agree that probably we are not seeing bitcoin going down and such, but at the same time bitcoin is kind of like an asset or stock. It is indeed issued by a (decentralized) "authority", the network itself. It is also similar in that if more people buy in, the price rises. If people sell, the price goes down (popularity has an influence too). And unless fiat currencies completely disappear and the only unit of "money" would be Bitcoin, the network does need our money. I don't think bitcoin would have come where it is now, if people could not have invested in it with their fiat money. 99.9% of trade goes in fiat and people need to know the price of items and services in fiat. If you see an item that is for sale for BTC only, you immediately go and convert to fiat to see how much it really costs. Until this concept is there (probably a long time) bitcoin will need fiat, more or less. On a second note, I feel like people who don't like fiat (its trendy to hate banks after all) push on "fiat is going down" ::) Title: Re: Who is the dead cat? Post by: hangar18 on July 02, 2015, 12:47:44 AM A lot of people (investors) have been waiting for the price to drop, so it's a good time to start buying again.
Title: Re: Who is the dead cat? Post by: HarHarHar9965 on July 02, 2015, 12:29:02 PM A lot of people (investors) have been waiting for the price to drop, so it's a good time to start buying again. Yes, its a good time to buy as bitcoin has been a little 'in-hype' because of all the Greece default drama and all those fools thinking bitcoin can be the savior here and rescue the nation. Regardless of that, Greece cannot be saved anymore. Its doom is here. After a couple months, the price will slide up and stay high for a while so its a good time to invest now! Title: Re: Who is the dead cat? Post by: RodeoX on July 02, 2015, 01:23:44 PM I see what you guys are saying. But if our definition of DCB includes events that does not end with a zero valuation, then every market movement down and up is a DCB. It means that all traded assets with a variable price are in a constant state of dead cat bouncing. That does not make sense because the cat is not dying. It would mean that we have several thousand DCB's per hour.
Title: Re: Who is the dead cat? Post by: bit tired on July 02, 2015, 02:22:04 PM I see what you guys are saying. But if our definition of DCB includes events that does not end with a zero valuation, then every market movement down and up is a DCB. It means that all traded assets with a variable price are in a constant state of dead cat bouncing. That does not make sense because the cat is not dying. It would mean that we have several thousand DCB's per hour. Can we at least agree that this diagram shows the general idea of a dead cat bounce? Yes there are differing views on what constitutes the exact definition of a dead cat bounce, but the diagram gives people a rough idea of what it is. Title: Re: Who is the dead cat? Post by: RodeoX on July 02, 2015, 03:15:54 PM I see what you guys are saying. But if our definition of DCB includes events that does not end with a zero valuation, then every market movement down and up is a DCB. It means that all traded assets with a variable price are in a constant state of dead cat bouncing. That does not make sense because the cat is not dying. It would mean that we have several thousand DCB's per hour. Can we at least agree that this diagram shows the general idea of a dead cat bounce? Yes there are differing views on what constitutes the exact definition of a dead cat bounce, but the diagram gives people a rough idea of what it is. Title: Re: Who is the dead cat? Post by: bill gator on July 02, 2015, 05:48:24 PM nope !!! a dead cat bounce is usually much quicker than the 2 week uptrend we're seeing.
|
