The Line of Death

[teukon]

Your attention please.

Bitcoin is about to die again.  Please return to your seats and fasten your seat-belts.  We are descending steeply today so please ensure that your bitcoins are securely stowed.

Thank you.


Chart from bitcoinaverage.com.

[podyx]

That line looks to be about $230

I don't think we'll go that low

[Keyara]

Wishful thinking from the graph. I also wish making money is that easy.

[Buffer Overflow]

Bitcoin is about to die again.

Again? Have I missed something?

[Wilhelm]

Look me can draw a line!! 

[riiiiising]

oh look, another fallling sock puppet. who is your paymaster and what is their agenda for spreading FUD to crash the price?

bitcoin is going nowhere but up, for the following reasons:

old:
bitcoin will lift the unbanked of the third world from poverty
allows for remittance for poor immigrant workers with no middle man
consumers can rest easy knowing their money is safe from hackers, unlike credit card users at target, home depot, etc

new:
next halving will cause more demand for limited supply
billions of dollars of VC being invested every month
stock market plunging, world wide economic collapse seems imminent. people of the world will use bitcoin as a hedge.



we are now at the "hope" stage, moon ship will come soon.

[teukon]

Bitcoin is about to die again.

Again? Have I missed something?

This was mainly a reference to the latter months of 2011 when a number of articles proclaimed the Bitcoin experiment dead.  I believe a repeat performance is very much on the cards.

[wet_blanket]

oh look, another fallling sock puppet. who is your paymaster and what is their agenda for spreading FUD to crash the price?

bitcoin is going nowhere but up, for the following reasons:

old:
bitcoin will lift the unbanked of the third world from poverty
allows for remittance for poor immigrant workers with no middle man
consumers can rest easy knowing their money is safe from hackers, unlike credit card users at target, home depot, etc

new:
next halving will cause more demand for limited supply
billions of dollars of VC being invested every month
stock market plunging, world wide economic collapse seems imminent. people of the world will use bitcoin as a hedge.

http://www.czechpoint101.com/newsletter/wp-content/uploads/2010/09/Market_Sentiment_Cycles.jpg

we are now at the "hope" stage, moon ship will come soon.

We're still in denial, as clearly demonstrated by the bulls expecting another rally to come. I don't think we'll hit the hope stage until we're back to summer 2013 levels, which is the true value of bitcoin right now.

[spazzdla]

oh look, another fallling sock puppet. who is your paymaster and what is their agenda for spreading FUD to crash the price?

bitcoin is going nowhere but up, for the following reasons:

old:
bitcoin will lift the unbanked of the third world from poverty
allows for remittance for poor immigrant workers with no middle man
consumers can rest easy knowing their money is safe from hackers, unlike credit card users at target, home depot, etc

new:
next halving will cause more demand for limited supply
billions of dollars of VC being invested every month
stock market plunging, world wide economic collapse seems imminent. people of the world will use bitcoin as a hedge.



we are now at the "hope" stage, moon ship will come soon.

I like this guy.  Think we are that far along in the stages..?  Dunno.. not yet I think.

[Raize]

Chart from bitcoinaverage.com.

The thing I never like about these charts is they rarely go all the way back to 2010, when it first even had a price.

[piramida]

I like this guy.  Think we are that far along in the stages..?  Dunno.. not yet I think.

Don't know about we, but I'm stuck in the optimism mode since early 2013 had a bit of euphoria in november, true, but now back to optimism

[teukon]

The thing I never like about these charts is they rarely go all the way back to 2010, when it first even had a price.

Apologies.  I intentionally cropped some of the left-most data off because there was so little volume I considered the data almost valueless noise (much like the mining difficulty data of 2009).  I've left some of the early data on to show that this line is not a hard rule (of course) and, indeed, the price drops far below the line in the early days.

I think I have some bitcoinmarket.com trade data hanging around somewhere which would take us to early 2010.  I haven't got it to hand but vaguely recall there being price action between 0.003 USD/BTC and 0.0086 USD/BTC in its early months (leading up to early July 2010 which is when I stated trading).  If you're interested I'll try and dig it up.

[porcupine87]

So Bitcoin was dead in Jan 2011?

[GreenCoin22]

sorry, I look the title as The Line of Depth

[zimmah]

Your attention please.

Bitcoin is about to die again.  Please return to your seats and fasten your seat-belts.  We are descending steeply today so please ensure that your bitcoins are securely stowed.

Thank you.


Chart from bitcoinaverage.com.

Die again? When did it die before?

Also, that chart is totaly not relevant

[xmasdobo]

So Bitcoin was dead in Jan 2011?

Somewhat yeah it was, it went out of the general public, then it came back with a huge peak. I think we are going to have a big long time of sustained low price on the 200-300's before the next ATH.

[intighet]

Your attention please.

Bitcoin is about to die again.  Please return to your seats and fasten your seat-belts.  We are descending steeply today so please ensure that your bitcoins are securely stowed.

Thank you.


Chart from bitcoinaverage.com.

The fractal pattern of bulges and sell-offs will probably continue moving the price mostly sideways on that scale for the next few months until we collide with this support. That is when the real test will occur.

[brg444]

Your attention please.

Bitcoin is about to die again.  Please return to your seats and fasten your seat-belts.  We are descending steeply today so please ensure that your bitcoins are securely stowed.

Thank you.


Chart from bitcoinaverage.com.

The fractal pattern of bulges and sell-offs will probably continue moving the price mostly sideways on that scale for the next few months until we collide with this support. That is when the real test will occur.

or we could very well shoot up without touching that line, as we did last year

[SkyValeey]

Below line will be very interesting time 
we need more entertainment with Btc :-)

[ElectricMucus]

https://bitcointalk.org/index.php?topic=181440.0