BTC back to long slow downward trend?

[Nagle]

The last year of Bitcoin. Daily median price, so some of the brief spikes during slow trading periods don't show.

It's been consistently downhill since June, with about ±$50 variation around the straight-line trend.

[srgkrgkj]

The last year of Bitcoin. Daily median price, so some of the brief spikes during slow trading periods don't show.

It's been consistently downhill since June, with about ±$50 variation around the straight-line trend.

overstated much >?

[Bit_Happy]

Really fast drop == Long-term winners are the ones who are buying now.

[interbtc]

One of the key mistakes investors make is not setting a time period that we would expect our investment to gain.

[stonerider]

The last year of Bitcoin. Daily median price, so some of the brief spikes during slow trading periods don't show.

It's been consistently downhill since June, with about ±$50 variation around the straight-line trend.

overstated much >?

How's it an overstatement? Why do you say it's an overstatement to say the btc has been consistently downhill since June of 2014?

[pat1900]

...
It's been consistently downhill ...

This is excellent news. Consistently downhill, just like Pfizer Inc., 2002 to 2009:

[Nerazzura]

Moreover, since the main organizer's website Bitcoin, Mtgox, reportedly lost hundreds of thousands of Bitcoin in early 2014 as a result of hacking, the fate of Bitcoin in the virtual world and the real increasingly poor and unclear. 

[azguard]

Really fast drop == Long-term winners are the ones who are buying now.

true price is currently so low that in any big price jump can be huge amount of income

[mmortal03]

The last year of Bitcoin. Daily median price, so some of the brief spikes during slow trading periods don't show.

It's been consistently downhill since June, with about ±$50 variation around the straight-line trend.

overstated much >?

Lol, he was saying that the chart displays the past year (e.g. the previous year, the last year) of the price, not that this is the last year of bitcoin (e.g. that it's going to die).

[leex1528]

It has been down since it was December of 2013.  Consistently going down with a few bumps up is still a huge downward trend.  Down over $1000 dollars is a big deal.

[Amph]

last high price was apparently the usual dead cat bounce, market manipulation as its finest

[johnyj]

Mainly because 2 factors:

1. The end of QE. In fact the price of almost any commody has been in a long downward trend since the QE slowed down and eventually stopped during 2014




2. The mining cost is still lower than coin's exchange rate during most of 2014


For no.1, FED still keep their previous projection of raising the interest on later part this year. But I think if USD liquidity become a much severe problem sooner than they can imagine, eventually they have to start QE again

For no.2, now the cost is already higher than exchange rate at some place, so some of the miner will just shutdown rig and buy bitcoins instead, that will give some support in the near future

[jaredboice]

The last year of Bitcoin. Daily median price, so some of the brief spikes during slow trading periods don't show.

It's been consistently downhill since June, with about ±$50 variation around the straight-line trend.

overstated much >?

How's it an overstatement? Why do you say it's an overstatement to say the btc has been consistently downhill since June of 2014?

you could also look at it like this: BTC is in a consistent uptrend since 2009
(Still up over 8 Million Percent since the first transaction for a 10,000 BTC Pizza)

[leex1528]

The last year of Bitcoin. Daily median price, so some of the brief spikes during slow trading periods don't show.

It's been consistently downhill since June, with about ±$50 variation around the straight-line trend.

overstated much >?

How's it an overstatement? Why do you say it's an overstatement to say the btc has been consistently downhill since June of 2014?

you could also look at it like this: BTC is in a consistent uptrend since 2009
(Still up over 8 Million Percent since the first transaction for a 10,000 BTC Pizza)

Yes, you could also say that when BTC is worth 2 dollars 2 years from now.  Its silly to say that its going up because it obviously is not.

[jaredboice]

The last year of Bitcoin. Daily median price, so some of the brief spikes during slow trading periods don't show.

It's been consistently downhill since June, with about ±$50 variation around the straight-line trend.

overstated much >?

How's it an overstatement? Why do you say it's an overstatement to say the btc has been consistently downhill since June of 2014?

you could also look at it like this: BTC is in a consistent uptrend since 2009
(Still up over 8 Million Percent since the first transaction for a 10,000 BTC Pizza)

Yes, you could also say that when BTC is worth 2 dollars 2 years from now.  Its silly to say that its going up because it obviously is not.

Um no you couldn't say that because at $2, BTC would only be up something like 100,000% since inception.  Far cry from 8,000,000%.

[jaredboice]

that chart doesn't even go back to 2009  

Oh, and it's logarithmic.  A linear chart wouldn't even show you everything.  The previous rallies would look like BUMPS! 

[stonerider]

As far as I am concerned, btc price has seen nothing but declines. I bought in last summer, september of 2014. Since then, btc price as lost about 50% of its value. I suspect a good percentage of users are in my shoes or worse.

[leex1528]

Anyone who says that BTC is on an upward spiral is completely on crack and should be ignored on any advice they give.  Like I said, BTC has been in a downward spiral since December of 2013 or maybe even earlier.