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5158243 No.5158243 [Reply] [Original]

Log scale. Back in 2014 bitcoin fell through this support and suffered huge losses. Thoughts?

>> No.5158278

I'm a brainlet, explain log scale

>> No.5158293
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5158293

Meh!

>> No.5158364

>>5158243
If it breaks resistance it could 20x like it did in 2013.

>> No.5158389

>>5158364
correct, but if we dont...

>> No.5158427

Hmm... it looks like it could fall to either $7000, or potentially as low as $3500 soon... which matches my guesses for bottoms scarily well (I guessed $4000 for the hard collapse bottom).

I think we're going to see a pretty massive correction, followed by a period of stable slow growth, followed by a rally to $100k. That chart seems to suggest a similar trajectory I think.

>> No.5158525

>>5158278
It gives a better measure of magnitude than linear. So, you would be looking at it as it goes from 2 to 4, 4 to 8, 8 to 16 etc. This differs from linear where you go 1,2,3,4 etc. It makes sense given that an increase in price from 1 to 10 is not the same as 10 to 20(10x gains vs 2x), even if both are just jumping by ten.

>> No.5158576

>>5158427

BTC will never be those prices again, anon. Remember there are only 13.1 million Bitcoin to ever be made. Lowest we will ever see it again will maybe be 18.5K, if you're extremely lucky.

>> No.5158595

>>5158243
I think your line is high and that we are slightly high right now but that it won't matter because log scale. so expect slower than log near term before returning to double town. Wall street hasn't experienced difficulty increases over the long haul, they're in for a surprise.

>> No.5158660

>>5158525

Thanks bro, I went to math class high most of the time in my teens. Explains a lot.

>> No.5158686

CRUCIAL

>> No.5158698

>>5158576
you are utterly clueless

>> No.5158719

>being this much of a TA fag

>> No.5158720

>>5158243
Looks like you just drew an exponential average that naturally bitcoin fell below when it lost 2/3 of its value. You also used the current price as the endpoint for the straight line so this would look different tomorrow. I am completely unconvinced this means anything.

>> No.5158741

b-but during that time market and infrastructure was really young

>> No.5158787

>>5158243
Are there any TA fags here? Is this it's Third Wave?

>> No.5158847

>>5158243
I'm confused. It's already below the line now, how would it fall through

>> No.5158905

>>5158720
uh no, my line follows the uptrend in 2012/13, and intersects the huge drop in early 2015 where bitcoin lost almost half its value because it fell through the support. It is a coincidence it intersects the current price.

>> No.5158938

>>5158847
if its doesn't pass through then bitcoin will correct hard.

>> No.5158945

>>5158698
Ok faggot, how much btc you hold? I'm tired of you no coiners always assuming you just KNOW when its gonna crash, meanwhile here we are approaching twenty fucking thousand.

>> No.5158959

>>5158905
So it's a support line that bitcoin actually hasn't followed for 4-5 years? That's even more retarded.

>> No.5159021

I made the line more accurate, 22k appears to be the key resistance

>> No.5159037

>>5158945
Exponential growth assumes adoption. Adoption no longer happening, it's coasting on momentum. Meanwhile BCH is gaining more adoption every day.

>> No.5159083

>>5158959
just stop, you are clueluess.
>>5158945
I hold bitcoin faggot. I guarantee something big will happen when bitcoin reaches 22-23k.

>> No.5159096

>>5158595
Higher difficulty makes mining more expensive, but is that doesn't make bitcoin more valuable.

>> No.5159209

>>5158243
>>5158389
>>5158427
>>5158525
>>5158595
>>5158698
>>5158719
>>5158720
>>5158741
>>5158905
>>5158945
>>5159021
>>5159037
>>5159083
>>5159096
fudging fuders. you are so mad you dont have bitcoin. /r/bitcoin would of banned you all while i get a lambo and you get shoes if your are lucky

>> No.5159246

stop trying to analyze bitcoin pricing

IT DOESNT WORK

>> No.5159396

>>5159209

Go back to plebbit you mouthbreathing mong. You just bought BTC this year and think you're a goddamn genius because you finally FOMOd in don't you?

You're who we're dumping the bags on. You only win at this game if you take profits.

>> No.5159495

>>5159209
Good argument bro. Steam wasn't the first to drop BTC as a payment method, and they won't be the last.

>muh store of value
Its value was derived from being a quick, cheap payment method. People buy it now only because they think it'll go up in price, not because people are using it. Literal ponzi scheme at this point.