Bitcoin: The Downward Trend Continues

[marvinrouge]

The charts don’t lie

Agree !

[dinEDG]

Oh look a steady down trend

http://puu.sh/84VJV/3679a209c5.png
http://puu.sh/84Vcz/a4fda77a16.png
http://puu.sh/84Vdm/03c0b024ae.png

The 3 bubbles in order

[zimmah]

the trend seems to be reversing, and the trend is due to reverse in May or June.

I don't think it will go below $300ish, but i think it may have a few more dips in the coming weeks before it will blast of to new highs.

[teukon]

In some ways a long, slow slide is a worse sign for Bitcoin than a great crash, as the gradual decline may signify a loss of confidence in the system itself.

A long, slow slide is just what Bitcoin needed.  I welcome a "significant loss of confidence in the system itself".  If Bitcoin can be easily killed by such a loss of confidence then it would be better for us to learn this now rather than later.  If it survives (as it did in late 2011) then it (and cryptocurrency in general) earns another stripe.

[jonald_fyookball]

The charts don’t lie

Agree !

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullish on BTC long term but get out of here with this crap.

[hodlmybtc]

The charts don’t lie

Agree !

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullshit on BTC long term but get out of here with this crap.

It's called a logarithmic chart

[matt4054]

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullshit on BTC long term but get out of here with this crap.

Sorry?

[jonald_fyookball]

Bullish, lol...

Logarithmic chart...it's a joke.  Major distortion of real price action.

[smoothie]

Just watch for the downward trap...lol

it will snap up. Coiling spring in progress.

Called it. 

[smoothie]

Bullish, lol...

Logarithmic chart...it's a joke.  Major distortion of real price action.

LOL how is it a distortion?

Watch us go to a new ATH by end of July 2014.

$5000 by end of this year.

[dropt]

Logarithmic chart...it's a joke.  Major distortion of real price action.

 

[jonald_fyookball]

Bullish, lol...

Logarithmic chart...it's a joke.  Major distortion of real price action.

LOL how is it a distortion?

Watch us go to a new ATH by end of July 2014.

$5000 by end of this year.

How is it a distortion?  Because you're not seeing price vs time!  ...which
is the whole point of a freaking price chart.  Am I taking crazy pills?

Here is an actual price vs time chart.   Obviously this chart gives
you much clearer visual data about what the price did over time --
you can clearly see the big spike up to 1200, a pullback, consolidation
into the 800s, another sell off, etc.  It's much less clear on the log
chart (literally distorted via compression).

[BittBurger]

the gradual decline may signify a loss of confidence in the system itself. That fear, that the Bitcoin infrastructure itself is insecure, is not entirely without merit.

No

The price is dropping because China is slowly pulling out.

There is no magic, mystery, or secret code that your magical charts can reveal to us about the minds of the people holding bitcoin.

There are solid, logical reasons for each and every price change. 

[jonald_fyookball]

the gradual decline may signify a loss of confidence in the system itself. That fear, that the Bitcoin infrastructure itself is insecure, is not entirely without merit.

No

The price is dropping because China is slowly pulling out.

There is no magic, mystery, or secret code that your magical charts can reveal to us about the minds of the people holding bitcoin.

There are solid, logical reasons for each and every price change. 

QFT.  I lmao when I see people talking about moving average crossovers on a bitcoin chart.

[rudius]

the gradual decline may signify a loss of confidence in the system itself. That fear, that the Bitcoin infrastructure itself is insecure, is not entirely without merit.

No

The price is dropping because China is slowly pulling out.

There is no magic, mystery, or secret code that your magical charts can reveal to us about the minds of the people holding bitcoin.

There are solid, logical reasons for each and every price change. 

Recent dip wasn t because of chinas panic selling... just saying

Actually china were buying while we were panic selling because of them. They must have had a good laugh

[Equate]

There are lots of bitcoins flowing towards China on the fiatleak.

[rogerwilco]

Bullish, lol...

Logarithmic chart...it's a joke.  Major distortion of real price action.

LOL how is it a distortion?

Watch us go to a new ATH by end of July 2014.

$5000 by end of this year.

How is it a distortion?  Because you're not seeing price vs time!  ...which
is the whole point of a freaking price chart.  Am I taking crazy pills?

Here is an actual price vs time chart.   Obviously this chart gives
you much clearer visual data about what the price did over time --
you can clearly see the big spike up to 1200, a pullback, consolidation
into the 800s, another sell off, etc.  It's much less clear on the log
chart (literally distorted via compression).

Even many people who prefer the log chart don't understand the purpose of a log chart.

The purpose is to give equal distances to equal percentages, rather than equal quantities. This is because gains and losses in investments are typically expressed in terms of percentages.

Think about it. Is the price difference between $1 and $10 really the same as the difference between $100 and $109? Anyone experiencing the first price jump (or crash) will realize much larger gains (or losses) than anyone experiencing the second. A better analogous range would be $100 to $1000, to reflect the same gains on investment as in the first range. A log chart will show $1, $10, $100, and $1000 equally spaced to depict this.

A side effect of the log chart is that exponential growth appears in a straight line. But that is not the only use a log chart has, and it may arguably be a more useful scale for all investments, even when no exponential growth is present.

[theonewhowaskazu]

If you bought $1000 at $10 and held to $100, you made $9000.
If you bought at $100 and held to $1000, you made $9000.

That's why log charts matter. Saying you view log charts as a distortion is like saying that AAPL is more expensive than FB.

[Bit_Happy]

The short-term trend is up now. 
Also long-term is up...

[jonald_fyookball]

I hear what you guys are saying bout the log chart.... Maybe it's not complete crap if some people like it but I still think the traditional candlestick chart is king.