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Author Topic: Bitcoincharts: Three months since we've had a red week.  (Read 4360 times)
elux
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August 02, 2012, 01:07:11 AM
 #1

Take a step back from the intraday noise and chaos for a moment. Notice, it's been a full three months since we've had a red week.



Live version: http://bitcoincharts.com/charts/mtgoxUSD#rg90zigWeeklyztgSzm1g10zm2g25zv

Green fields forever, or time to see some blood? Smiley
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Hexadecibel
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August 02, 2012, 01:49:49 AM
 #2

blood makes the green grass grow

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August 02, 2012, 02:13:59 AM
 #3

falling knife PLEASE  Grin

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August 02, 2012, 02:16:07 AM
 #4

Take a step back from the intraday noise and chaos for a moment. Notice, it's been a full three months since we've had a red week.


Good.

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ineededausername
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August 02, 2012, 02:51:29 AM
 #5

My vote is in for green fields forever! Smiley

...or at least until the reward drop.

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August 02, 2012, 04:22:15 PM
 #6

If we keep this pace, by November we will hit ye olde all time again. (too bad, ill sell before that Wink
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August 04, 2012, 01:49:29 AM
 #7

My vote is in for green fields forever! Smiley

...or at least until the reward drop.

I'm not an economist but wouldn't the inverse happen? If the reward halves the same compute resource is now only delivering 50% of it's original value and consequently the overall per BTC price worth would have increased?

When ASICs get here a heap of things will change but if enough miners jump on board with 1,000GH/sec rigs then it might just equalise out over time anyway (ie. the 50% cut in reward is countered by a 100% increase in mining power).

Stu
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August 04, 2012, 03:02:55 AM
 #8

Let this be our 11th week!


(BFL)^2 < 0
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August 04, 2012, 08:16:41 AM
 #9

Let this be our 11th week!



That green looks so pretty! And that chart looks exponential o.O
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August 04, 2012, 10:27:45 AM
 #10

It's likely a short term bubble.. this is suppose to happen, when the price pendulum swings it always overshoots, right now it's overshooting to the upside. Once people realize they've got enough BTC and start selling the pendulum will change course and swing back to the lower price direction and overshoot again as the bubble pops.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

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August 04, 2012, 11:15:02 AM
 #11

It's likely a short term bubble.. this is suppose to happen, when the price pendulum swings it always overshoots, right now it's overshooting to the upside. Once people realize they've got enough BTC and start selling the pendulum will change course and swing back to the lower price direction and overshoot again as the bubble pops.

Yes but the overshoot is going to exceed the previous highs by more than anyone can imagine before coming back to test 32.
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August 04, 2012, 12:04:43 PM
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That's entirely possible.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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August 04, 2012, 12:09:17 PM
 #13

It's likely a short term bubble.. this is suppose to happen, when the price pendulum swings it always overshoots, right now it's overshooting to the upside. Once people realize they've got enough BTC and start selling the pendulum will change course and swing back to the lower price direction and overshoot again as the bubble pops.

Yes but the overshoot is going to exceed the previous highs by more than anyone can imagine before coming back to test 32.

This makes me confident that we're already at or near the top.
ineededausername
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August 04, 2012, 01:29:18 PM
 #14

It's likely a short term bubble.. this is suppose to happen, when the price pendulum swings it always overshoots, right now it's overshooting to the upside. Once people realize they've got enough BTC and start selling the pendulum will change course and swing back to the lower price direction and overshoot again as the bubble pops.

Yes but the overshoot is going to exceed the previous highs by more than anyone can imagine before coming back to test 32.

This makes me confident that we're already at or near the top.

You were "confident" at $7.2, $8 and $9.  Your confidence has no credibility Smiley

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August 04, 2012, 01:34:53 PM
 #15

It's likely a short term bubble.. this is suppose to happen, when the price pendulum swings it always overshoots, right now it's overshooting to the upside. Once people realize they've got enough BTC and start selling the pendulum will change course and swing back to the lower price direction and overshoot again as the bubble pops.

Yes but the overshoot is going to exceed the previous highs by more than anyone can imagine before coming back to test 32.

This makes me confident that we're already at or near the top.

You were "confident" at $7.2, $8 and $9.  Your confidence has no credibility Smiley
He even promised that he will drop the bear, once we get over $8. So much about credibility Cheesy
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August 04, 2012, 02:01:25 PM
 #16

Will you drop the bear at $12 and don some horns?


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August 12, 2012, 12:46:38 AM
 #17



13th week  Shocked Grin

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August 12, 2012, 01:31:16 AM
 #18

correction coming soon?

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August 12, 2012, 01:36:34 AM
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correction coming soon?

Afraid of being left behind?
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August 12, 2012, 02:29:14 AM
 #20

It's likely a short term bubble.. this is suppose to happen, when the price pendulum swings it always overshoots, right now it's overshooting to the upside. Once people realize they've got enough BTC and start selling the pendulum will change course and swing back to the lower price direction and overshoot again as the bubble pops.

Yes but the overshoot is going to exceed the previous highs by more than anyone can imagine before coming back to test 32.

This makes me confident that we're already at or near the top.

You were "confident" at $7.2, $8 and $9.  Your confidence has no credibility Smiley


Wasn't proudhon supposed to take down the bear at $8+?

Looks like someone who can't keep his word to me.

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