Dead Cat Bounce ??!!

[cbeast]

Another thing about bitcoin: using references like "stock x" to describe bitcoin trading is a false premise. Bitcoin is more like "commodity x" but even that isn't the best analogy. Bitcoin is something new so while it may have trading patterns similar to stocks, currencies, and commodities, it is none of those. Bitcoin is more like a religion. It is like Scientology and Jediism, it will only grow over time as more and more crazy people begin to believe in it.

[1714152529]

1714152529

[1714152529]

1714152529

[1714152529]

1714152529

[walidzohair]

viva zalata!!! FREEDOM!!!

[S3052]

Another thing about bitcoin: using references like "stock x" to describe bitcoin trading is a false premise. Bitcoin is more like "commodity x" but even that isn't the best analogy. Bitcoin is something new so while it may have trading patterns similar to stocks, currencies, and commodities, it is none of those. Bitcoin is more like a religion. It is like Scientology and Jediism, it will only grow over time as more and more crazy people begin to believe in it.

It does not matter if bitcoin is compared to stocks or forex or commodities. fact is that the bitcoin prices and bitcoin charts behave just like those. Charting analysis works perfectly well for bitcoins, no matter what they are supposed to be.

And, like many have written in this section, it really depends if the log charts or the normal charts dominate. Our view is that the log charts are more appropriate and on log charts, bitcoins is no cat, no dead cat, but a big bull who is taking his afternoon nap before steaming forward again.

[walidzohair]

OMG!!!   I hardly understood the DEAD CAT BOUNCE! concept and got used to it. And now you sayin something really new and strange!


a what ?? bull? do you man redbull drink or umm?!

because until now the only thing that looks like a bull is the bull horns penetrating the BTC price ass?!?! outch!!

the charts looks a lot like dump and nump, dead goose bounce .. etc.

[S3052]

interesting idea: a redbull market. I have one in the fridge and will open it now as I write this :-)

[walidzohair]

ummm .. I will go for some goat milk man.. i will feed my goat couple of BTCs for it!

[cbeast]

Another thing about bitcoin: using references like "stock x" to describe bitcoin trading is a false premise. Bitcoin is more like "commodity x" but even that isn't the best analogy. Bitcoin is something new so while it may have trading patterns similar to stocks, currencies, and commodities, it is none of those. Bitcoin is more like a religion. It is like Scientology and Jediism, it will only grow over time as more and more crazy people begin to believe in it.

It does not matter if bitcoin is compared to stocks or forex or commodities. fact is that the bitcoin prices and bitcoin charts behave just like those. Charting analysis works perfectly well for bitcoins, no matter what they are supposed to be.

And, like many have written in this section, it really depends if the log charts or the normal charts dominate. Our view is that the log charts are more appropriate and on log charts, bitcoins is no cat, no dead cat, but a big bull who is taking his afternoon nap before steaming forward again.

I'm just saying that bitcoin is not a currency, nor a stock because it is decentralized. There are no decentralized stocks on Wall Street nor currencies on Forex. Sure we will see similar patterns, but they are chaos based and will reiterate. I am "bullish" about bitcoin, not because of the patterns, but because the idea is too-big-to-fail. The fractal patterns in bitcoin fluctuations offer great opportunity for trading until folks understand this intrinsic nature of decentralized cryptocurrency.

[Lolcust]

oh umm and some filthy man told me as it wont be used for drugs and illegal issues any more it will vanish as in a pyramid scheme!!

is a pyramid scheme something related to Egypt ?

I know little of stock trading, but I can assure you that bitcoin will remain to be used in drug trade irrespective of bitcoin exchange price trends.

"Bitcoin" + "GPS-aided single-use randomized dead drops" = "very reliable and safe way to trade drugs".

Just sayin'

So would be using fiat money +  "GPS-aided single-use randomized dead drops" = "very reliable and safe way to trade drugs". Isn't that how it's done now? All they do now is use secure comms for the locations.

In fact, the strength of bitcoin isn't so much the pseudonymity, but the public ledger.

Vanilla fiat money are harder to transfer via digital means without leaving a fairly fat paper trail, and cash is annoying in the requirement to physically exchange it which can get tricky in a setup like that.

Also, a large sum of fiat money tends to either occupy lots of space or attract unwanted scrutiny when moved around in digital representation.

Generally, bitcoin is very comfy in this regard and as our troll friend correctly points out, makes "dirty hands" type of action  exceedingly hard.

[adamstgBit]

check this out ...

i just sold a coin
i have bad luck syndrome
------------------------------
bitcoin value will sky rocket in the next few min

[molecular]

does anyone think he didn't know the answer before he created the thread?

exactly my thoughts.

[molecular]

She told me too that is a well known beaver chart behavior (or was it bearish behavior and the other one was the beaver!).

So you two talk about rubbery bouncing kittens while you play with her beaver, while secretely what you're really doing is trying to get unbiased info on wether or not bitcoin is dead. Awesome.

Let me coin the term beaver-reading for this.

[walidzohair]

She told me too that is a well known beaver chart behavior (or was it bearish behavior and the other one was the beaver!).

So you two talk about rubbery bouncing kittens while you play with her beaver, while secretely what you're really doing is trying to get unbiased info on wether or not bitcoin is dead. Awesome.

Let me coin the term beaver-reading for this.

Well Ummmmm .. Basically that is quiet true and pretty much about it!. And yes she told me at the end that the CAT IS DEAD!!! .. or umm the BeaverCoin have been Deadly satisfied!

[BitMagic]

Our view is that the log charts are more appropriate and on log charts, bitcoins is no cat, no dead cat, but a big bull who is taking his afternoon nap before steaming forward again.[/color]

Yeah, because measuring a $6 drop from $30 to $24 equally to a $1 drop from $5 to $4 makes great sense in a crashing market for people who just "want to believe".  When are you idiots going to stop picking the data you want to match your emotional desires and start facing reality?

[FreddyFender]

Be forewarned that this is a troll post looking to goad comments.
troll-e moley!

[BitMagic]

If I buy 100 USD worth of bitcoin at 30 USD/btc, and it drops to 24 USD/btc, or if I buy 100 USD worth of bitcoin at 5 USD/btc and it drops to 4 USD/btc, which way did I loose more money?

Yeah, log charts are good.

Lol, you can pound your fists all you want, but this is what your public sees:

[quartz92]

If I buy 100 USD worth of bitcoin at 30 USD/btc, and it drops to 24 USD/btc, or if I buy 100 USD worth of bitcoin at 5 USD/btc and it drops to 4 USD/btc, which way did I loose more money?

Yeah, log charts are good.

Lol, you can pound your fists all you want, but this is what your public sees:

Not anymore!

[BitMagic]

Not anymore!

I'm sorry, that was a joke. This is not:

[cbeast]

Not anymore!

I'm sorry, that was a joke. This is not:

The chart looks awfully flat for the last 4 weeks. Not much bouncing. Looks like the cat is taking a nap, not dead.

[grod]

Not anymore!

I'm sorry, that was a joke. This is not:

The chart looks awfully flat for the last 4 weeks. Not much bouncing. Looks like the cat is taking a nap, not dead.

I think we need to start using 1/log (inverse log? does such a thing exist?) charts to see activity down here.  Hell, the price moved 20% today but you won't see that on the chart because it doesn't even register relative to noise movement of just a few weeks ago.

[BitMagic]

I think we need to start using 1/log (inverse log? does such a thing exist?) charts to see activity down here.  Hell, the price moved 20% today but you won't see that on the chart because it doesn't even register relative to noise movement of just a few weeks ago.

Yeah yeah yeah. Log charts will show it's all roses, because that's what I want to believe!

I understand that log charts will show you a bit more about losses in short-term speculation, but everyone's saying "yeah but" on these charts because they want to ignore reality: BTC is tanking. Has been since June, no reason to think it's going to change. Ignore what you want, doesn't make you right.