Fall due to Coinbase trying to push through XT and change leadership ?

[Zarathustra]

Yep, safe to say we're way outside the mean.

Negative correlation for the last two years. What gives?

The chart is showing you what you will get: Higher prices in the future.

[brg444]

Yep, safe to say we're way outside the mean.

Negative correlation for the last two years. What gives?

The chart is showing you what you will get: Higher prices in the future.

I also expect higher prices in the future but not because of "MOAR TRANSACTIONS" but because of "MOAR HOLDERS".

[danielW]

Well I was mocked by some when I made the thread (cognitive dissonance?) but the pattern is very clear now. News that increases likely-hood of contentious hard fork always leads to price drops. When coup attempts seem unlikely and support for them drops, price increases.



Some (too many to actually recall) of the notable events:

XT released: huge drop

XT looses support price increases

Coinbase CEO and some other companies gives support to XT, price drop

XT looses support price increases

Coinbase says it is trailing XT, price drops

XT looses support price increases


Classic is announced price drops

Classic claims support of majority miners (admittedly Mike 'traitor' Hearn Rage quit then also and influenced price) price drops sharply

Classic binaries released and Gavin makes more pro fork propaganda, price drops

[gijoes]

Well I was mocked by some when I made the thread (cognitive dissonance?) but the pattern is very clear now. News that increases likely-hood of contentious hard fork always leads to price drops. When coup attempts seem unlikely and support for them drops price increases.



Some (too many to actually recall) of the notable events:

XT released: huge drop

XT looses support price increases

Coinbase CEO and some other companies gives support to XT, price drop

XT looses support price increases

Coinbase says it is trailing XT, price drops

XT looses support price increases


Classic is announced price drops

Classic claims support of majority miners (admittedly Mike 'traitor' Hearn Rage quit then also and influenced price) price drops sharply

Classic binaries released and Gavin makes more pro fork propaganda, price drops

Exactly. Correlation between any development positive to hard fork and negative price movement is so strong, it's not even funny. And this is still with hostile hard fork probability VERY VERY low. But now it seems that corporate interests behind this hostile takeover attempt are not going to give up so easily. So, probability of hard fork and network split is steadily increasing. Once it becomes a REAL possibility, THEN the actual dump starts.

[BitcoinNewsMagazine]

Well I was mocked by some when I made the thread (cognitive dissonance?) but the pattern is very clear now. News that increases likely-hood of contentious hard fork always leads to price drops. When coup attempts seem unlikely and support for them drops price increases.



Some (too many to actually recall) of the notable events:

XT released: huge drop

XT looses support price increases

Coinbase CEO and some other companies gives support to XT, price drop

XT looses support price increases

Coinbase says it is trailing XT, price drops

XT looses support price increases


Classic is announced price drops

Classic claims support of majority miners (admittedly Mike 'traitor' Hearn Rage quit then also and influenced price) price drops sharply

Classic binaries released and Gavin makes more pro fork propaganda, price drops

Exactly. Correlation between any development positive to hard fork and negative price movement is so strong, it's not even funny. And this is still with hostile hard fork probability VERY VERY low. But now it seems that corporate interests behind this hostile takeover attempt are not going to give up so easily. So, probability of hard fork and network split is steadily increasing. Once it becomes a REAL possibility, THEN the actual dump starts.

With millions of dollars from investors to keep happy I doubt Blockstream will idly stand by and allow a hard fork from Classic to activate. It is more likely that Classic will hasten progress of SegWit and a hard fork from Core later in the year.

[Wetlint]

The KNC has adopted the Bitcoin Classic and Coinbase will use Classic as well. The price has risen.

[asradoni]

The KNC has adopted the Bitcoin Classic and Coinbase will use Classic as well. The price has risen.

The price is still higher than a few weeks ago. So the market reaction to the classic going alive is quite positive.

[maokoto]

What? Coinbase will adopt classic? that is surprising to me as I have read some critics railing on classic as not being a very professional team. I am happy if it works well though.

[asradoni]

What? Coinbase will adopt classic? that is surprising to me as I have read some critics railing on classic as not being a very professional team. I am happy if it works well though.

When the miners convert to Classic, so will the developers. These people will adapt to the new scheme.

[Yamifoud]

Does anybody think when the SegWit comes out later this month, the price of bitcoin will be pumped?

[Kalder]

Does anybody think when the SegWit comes out later this month, the price of bitcoin will be pumped?

Anything that increase the block size and make transaction more smooth will push up the prices of bitcoin.

[coinyard]

The bitcoin price has risen from $400 to $469 now. What is the reason for the current price? No XT or Classic?

[Yamifoud]

The bitcoin price has risen from $400 to $469 now. What is the reason for the current price? No XT or Classic?

that is just normal fluctuation of the bitcoin price. It is the same as before. There is no big news to drive the price.