Bitcoin Forum

I do not know about this rhythm, but the capability of the human mind to see patterns in everything is amazing  :)

I do not know about this rhythm, but the capability of the human mind to see patterns in everything is amazing  :)

To be honest, no one can guess weather bitcoin is going to be at $10 or $1 by the the end of the year, unless they actively force the change with there own pocket book.

Negative, that was Bitcoinica's bot liquidating a bunch of longs.  He confirmed it the day of the selloff.  But I guess if you just wanna make stuff up about graphs thats cool too.  Maybe you could draw some elliot waves around it or something. 

In last months I always had a feeling that something bad will happen @mtgox in the start-mid of the month. And this was true for now.

I'm a fundamentals guy, but I still believe in wave patterns, even in something as small as this.  Like you say, large players can easily create false signals so it's foolish to rely too heavily on the charts, but the underlying market psychology still exists.

But the waves still start with an event.  There were a bunch of them there.  It'd be nice if someone could make another chart with more recent news.

Interesting, Pent. I've seen a similar pattern (each of the cyan blue are also broken into roughly three rhythmic patterns):

http://genaud.net/bitcoin/2011/20111106-2338-7moSDay8June.png


I esrever the effect and cause, but you otherwise agree with I. For example, no matter what the outcome of the Mt. Gox French court case, something will happen in the market and we will attribute the action to the case. The market reacts if bitcoin is a currency or it reacts if bitcoin is not a currency. Which way? It matters not. But the waves and sentiment do.

The market is like a woman. It does not matter if the conversation is positive or negative, if it's logical or beautiful. What matters is that the she-market is engaged, intimate, liquid, and emotional. If you read her emotions and react rationally though empathetically, she can be manipulated but never controlled. Money helps.

I understand that you are positing some sort of wave hypothesis. I can understand a little confirmation bias when looking for a phenomenon, but at some point you need to filter bias by finding something causal. Comparing the market to women means that somehow you can also predict women? You are right about one thing with both markets and women. Money does indeed help.

The cause is the cause of the cause of an effect. In a feedback loop, the initial cause is often completely lost and irrelevant. The market reacts to itself. Price movement is its own cause. Ever seen a woman cry because she is crying?

It is probably safe to assume, that if you live in the Arctic you are already a stark raving mad lunatic. Pibloktoq is a condition that is prevalent in winter (how shocking!) and is exclusive to Eskimo societies living within the Arctic Circle. The condition is characterized by an abrupt dissociative episode of intense hysteria, frequently followed by convulsive seizures and coma lasting up to 12 hours. Symptoms can include intense screaming, uncontrolled wild behavior, depression, coprophagia (i.e. eating feces- nothing like warm poo on a cold day), insensitivity to extreme cold (such as running around in the snow naked), echolalia (senseless repetition of overheard words, e.g. red rum, red rum) and other irrational and dangerous acts. This condition is most often seen in Eskimo women and is linked to vitamin A toxicity (hypervitaminosis A) found in the native Eskimo diet which consists primarily of raw organ meats, arctic fish and mammal liver.