rpietila Calling the Bottom

[Chuckee]

This guy is so full of shit. You don't retroactively "call the bottom" five months after it's in at $339...

OP was clearly attempting to state that the fall on August 15 would be the bottom of the current trend and we would start moving up again. Why can't he just admit that he's wrong by $100+ and move on?

In all likelihood, we are going to break through the $339 April low on Stamp and then what is he going to change this to?

"No guys, I was calling the $63 bottom from summer 2013!"

Just admit when you're wrong instead of trying to wish wash your way around your bold predictions, and maybe people here will take you more seriously.

[JayJuanGee]

Why do you (almost all) comment without even reading the OP? 

If anything in the post is incorrect, please correct me.

I only read the title, you're right.  I thought the title would have been the thesis of your post.

Better that you do NOT think, then.   ;

[lyth0s]

I believe that the next one might carry us north of $10,000. The longer time we spend here, the more explosive it gets. The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.

The bottom called is $340 from 4/11/14. Please read the entire OP before saying he's wrong. He may become wrong a few days from now, but as of this very moment we have not broke the bottom that he called.

[Erdogan]

Why do you (almost all) comment without even reading the OP? 

If anything in the post is incorrect, please correct me.

Says the magical $100,000 BTC guy. Magic beans, anyone? Magic beans.

"Monorail!!! Monorail!! Monorail!!!"

The OP is spot on in all regards, what can not be known is soundly estimated. Can not be said better. Except one small thing: We don't know the parameters of the exponential growth (a point on the line plus the rate of yearly increase).

[Eastwind]

The longer BTC is consolidated and get more used, the better.

[MiningAtlas]

In all likelihood, we are going to break through the $339 April low on Stamp and then what is he going to change this to?

Well lets wait and see that would still take a huge drop to actually get through that price.

[Hunyadi]

In all likelihood, we are going to break through the $339 April low on Stamp and then what is he going to change this to?

Well lets wait and see that would still take a huge drop to actually get through that price.

No way 

[Eastwind]

In all likelihood, we are going to break through the $339 April low on Stamp and then what is he going to change this to?

Well lets wait and see that would still take a huge drop to actually get through that price.

No way 

Only when there is a forced sell by margin call and the order book is thin.

[abercrombie]

This guy is so full of shit. You don't retroactively "call the bottom" five months after it's in at $339...

OP was clearly attempting to state that the fall on August 15 would be the bottom of the current trend and we would start moving up again. Why can't he just admit that he's wrong by $100+ and move on?

This ^

Correct, Bitcoin was 590's early August then on the 15th (date this thread was created) Bitcoin crashed to 450ish.

Thus, this thread was born to stamp that as the bottom.

[Wilhelm]

Would it be safe to say that $400 is the bottom as in where support is?
We seem to gravitate back to $400 if we go below.

This would mean that $400 would be a good entry point for anyone wanting to buying bitcoin.

[bigtimespaghetti]

Would it be safe to say that $400 is the bottom as in where support is?
We seem to gravitate back to $400 if we go below.

This would mean that $400 would be a good entry point for anyone wanting to buying bitcoin.

I think there is a chance of hitting 350 or there abouts,  maybe lower. This consolidation feels like what silver went through prior to the capitulation that appears to be forming now.

[tabnloz]

This guy is so full of shit. You don't retroactively "call the bottom" five months after it's in at $339...

OP was clearly attempting to state that the fall on August 15 would be the bottom of the current trend and we would start moving up again. Why can't he just admit that he's wrong by $100+ and move on?

This ^

Correct, Bitcoin was 590's early August then on the 15th (date this thread was created) Bitcoin crashed to 450ish.

Thus, this thread was born to stamp that as the bottom.

here is the OP quote

'The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.'

[tarmi]

This guy is so full of shit. You don't retroactively "call the bottom" five months after it's in at $339...

OP was clearly attempting to state that the fall on August 15 would be the bottom of the current trend and we would start moving up again. Why can't he just admit that he's wrong by $100+ and move on?

This ^

Correct, Bitcoin was 590's early August then on the 15th (date this thread was created) Bitcoin crashed to 450ish.

Thus, this thread was born to stamp that as the bottom.

here is the OP quote

'The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.'

very stupid to extrapolate like that.

[yokosan]

This guy is so full of shit. You don't retroactively "call the bottom" five months after it's in at $339...

OP was clearly attempting to state that the fall on August 15 would be the bottom of the current trend and we would start moving up again. Why can't he just admit that he's wrong by $100+ and move on?

This ^

Correct, Bitcoin was 590's early August then on the 15th (date this thread was created) Bitcoin crashed to 450ish.

Thus, this thread was born to stamp that as the bottom.

here is the OP quote

'The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.'

very stupid to extrapolate like that.

We gon be rich.

[NotLambchop]

I believe that the next one might carry us north of $10,000. The longer time we spend here, the more explosive it gets. The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.

The bottom called is $340 from 4/11/14. Please read the entire OP before saying he's wrong. He may become wrong a few days from now, but as of this very moment we have not broke the bottom that he called.

Lol, OK.  He asks you to extrapolate from 4/11/14.  At no point does he call that date the bottom he's calling.  No more so than he explicitly calls $2 [from the same quote] the bottom.
Perhaps he meant $2?

As others have mentioned, rpietila asks you to think like this:  pick two points on the chart that I chose, and extrapolate from there.
That makes as much sense as me saying "Bitcoin exchange rate went down from $1153 to $339 in just a few months.  If we extrapolate from that, with the starting point of $400..."

So yeah

[molecular]

I believe that the next one might carry us north of $10,000. The longer time we spend here, the more explosive it gets. The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.

The bottom called is $340 from 4/11/14. Please read the entire OP before saying he's wrong. He may become wrong a few days from now, but as of this very moment we have not broke the bottom that he called.

Lol, OK.  He asks you to extrapolate from 4/11/14.  At no point does he call that date the bottom he's calling.  

It's very strongly implied.

If we're going to start splitting hairs, we could as well say that "rpietila calling the bottom" is not a statement of fact. Just like "Risto flying to Mars" is just a hypothetical.

So let's do away with the crap. The way I see it he called $340 the bottom. If it goes substantially below that for a non-negligible amount of time in most markets, his call was wrong. No big deal (unless you switched off your own brain and blindly followed what he said. In that case I can understand why some people here are angrily discussing this subject, although it's not merited). Risto also called 300,000 USD/BTC in 2013. He was wrong. We all had our fun, the price is payed. He's also been right many times and his thoughts are usually very valuable, sometimes intriguing and always interesting.

[NotLambchop]

I believe that the next one might carry us north of $10,000. The longer time we spend here, the more explosive it gets. The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.

The bottom called is $340 from 4/11/14. Please read the entire OP before saying he's wrong. He may become wrong a few days from now, but as of this very moment we have not broke the bottom that he called.

Lol, OK.  He asks you to extrapolate from 4/11/14.  At no point does he call that date the bottom he's calling.  

It's very strongly implied.

If we're going to start splitting hairs, we could as well say that "rpietila calling the bottom" is not a statement of fact. Just like "Risto flying to Mars" is just a hypothetical.

So let's do away with the crap. The way I see it he called $340 the bottom...

There is nothing nitpicking in what I said.
The quoted line gives us two bottoms, $2 and $340.  He asks you to do something patently insane:  To extrapolate from $340 (the low which happened three months before his post was made, AKA "current low") and to assume that price is going to behave as it did during $2 -> $266 climb.

You can chose to believe anything, that's how cold readings work

Edit:  The entire first post is nothing but similar nonsense.  The whole "can't be unlearned" tripe.

"And they told two friends, and they told two friends, and they told two friends."

[rebuilder]

.
There is nothing nitpicking in what I said.
The quoted line gives us two bottoms, $2 and $340.  He asks you to do something patently insane:  To extrapolate from $340 (the low which happened three months before his post was made, AKA "current low") and to assume that price is going to behave as it did during $2 -> $266 climb.

You can chose to believe anything, that's how cold readings work

What is being discussed here, now - whether rpietila's call was for a bottom at 340, or whether his implied prediction for future prices makes sense? You appear to be conflating the two.

[NotLambchop]

.
There is nothing nitpicking in what I said.
The quoted line gives us two bottoms, $2 and $340.  He asks you to do something patently insane:  To extrapolate from $340 (the low which happened three months before his post was made, AKA "current low") and to assume that price is going to behave as it did during $2 -> $266 climb.

You can chose to believe anything, that's how cold readings work

What is being discussed here, now - whether rpietila's call was for a bottom at 340, or whether his implied prediction for future prices makes sense? You appear to be conflating the two.

No.  I'm saying:

1.  He did not call 340.
2.  On top of not calling 340, he asked you to do something nonsensical, for extra lulz.

[RoadStress]

No.  I'm saying:

1.  He did not call 340.
2.  On top of not calling 340, he asked you to do something nonsensical, for extra lulz.

For me OP called the bottom at $340!