The Bitcoin Sawtooth

[dree12]

Anyone else notice this pattern?


I don't think this will continue, but do believe that there is a chance it will. Bitcoin seems to have reentered a hype cycle, but this time with faster declines than growths, but longer periods of growth. Whenever a crash happens, bringing record volume, two or three weeks of steady rallying seem to follow.

[Synaesthesia]

Yes I've noticed that, but I don't believe past behaviour is a good predictor of future behaviour.

[Severian]

People will keep buying bitcoins when the price drops enough and then sell en masse at some peak. Every buy-in sees a few more people joining the network, every sell-off sees fewer leaving the network. It's guaranteed liquidity.