/biz/ - Business & Finance

What the fuck kind of chart is that?

We’re going to make it!

>>13854552
A squenched up chart just like my butt cheeks

>>13854538
We have no where near the volume of the 2017 run.

>>13854552
This is why non-brainlets use log charts

>>13854538

This is probably the biggest exit scam I've ever seen.

>>13854552
gold

expect volatility anon

the only question is if the pullbacks begin now to 6k or 4k?

These secondary "Echo" bubbles are quite prominent among all cryptos of a certain age on higher timeframes

>>13854538

>>13854538
it'll retrace soon, hard to tell to what price.
One thing's for sure though
It's almost alt season

>>13854567
we have more you absolute mongoloid

>>13854663
if volume is this high already doesn't that mean a good amount of normies are buying in? if theyre buying in now then they won't be buying in later when we need to push past 15k+

>>13854663
CMC has a lot of fake volume. Open market cap shows the real volume. It's pretty obvious even without this chart that crypto activity is very low compared to 2017.

>>13854538
>huge dump incoming
FUCK

>>13854708
Oops, wrong chart. Here's the correct one.

>>13854705
No it just means bots are going hard or exchanges are faking volume

>>13854663

desu tho this just reflects that exponential increase over time of the total number of bots and algos and wash trading the shit out of it on every platform, this is well known phenomena.

A real correlation between price and volume here puts btc above 30k

>>13854721
>>13854734
yes a lot of it is wash-trading but volume is volume, i also find it hard to believe that "corrected volume" is entirely accurate considering how low it is for the price increase; if no one has any BTC left to sell off at these prices we're in for a bigger bullrun than anyone expects
true non-wash volume is probably somewhere in between those two charts

>>13854721
noob

>>13854721
>>13854820
never mind, now that i see the 3/23* it makes more sense, all the volume from the 2017 run hasn't been removed, there's been no altering of the volumes until march of this year. Which means the corrected volume today is about equal to the "untrusted" volume of July 2017

I've tought but have not stated publicly that there is a "hand" behind the market, maybe many "hands". Algos, quants, of coruse, but also some deep liquidity. After all who can pay to colocate their servers at coinbase? Who the fuck needs a HFT besides deep liquidity?

In that case, this is a fundamentally different bullrun than earlier bullruns.

>>13854663
based and volumepilled

>>13854538

>it'll go up forever

In other words for them, the playing the bitcoin market is like running a auto dealership. The bitcoins are the cars on the lot. Today, they're X, hopefully tomorrow the market can support higher prices, but lower are okay, as long as their algo adjusts for price fluctuations.

Pic related.

Imagine the liquidity of this business model. No showroom, no inventory, just the opportunity to sell something for the price of a car. Hey, these people are walking on the lot offering to buy for $8800... Tomorrow maybe 10k, maybe 6k.

For them this isn't investment, its profit/loss, cash flow, the buying and selling algos fully substitute for a business model.

I don't trust it.

>>13854567
Holy fuck how can you even breath with your peanut brain

>>13854538
It ain't the big one until I can pay off my house with it.

>>13855176
If you've been in the crypto market in 2017, you would know that it was a lot more active then compared to now. 100% daily pumps were a common occurence. Now people are happy with 10% pumps.

Newcomers are afraid to buy, even with the parabolic growth like in OP's chart, for obvious reasons. Bitcoin has already gained a bad reputation. It's going to be hard for Bitcoin to recover to its ATH with the media being against it and bad word-of-mouths spreading like wildfire.

>>13854538
looks just fine on the log chart

>>13855329
ok mate you literally have no idea what you're talking about, im beginning to think you only heard about bitcoin this year
the media has been against bitcoin since day 1, nothing has changed on that front, and it didn't stop the bull run in 2017.
100% daily pumps were NOT a common occurrence, at least not ones with any volume over $50. They may have been more common than they are now but that's only because the market cap was lower and it was therefore easier to double the price.