Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
derpinheimer
on 19/03/2015, 20:03:15 UTC
Quote from: sleger on March 19, 2015, 07:56:24 PM
Quote from: derpinheimer on March 19, 2015, 07:50:13 PM
Quote from: sleger on March 19, 2015, 07:34:08 PM
Quote from: Wandererfromthenorth on March 19, 2015, 07:18:18 PM

1: bid sum is an excellent predictor of BTC prices. History shows that the two are very well correlated. If it's price that contributes to a rise in bid sum or the other way around is irrelevant.


What you wrote contradicts itself :
you said it is a predictor and then you say you don't know which one leads the other. Correlation is not prediction.
It predicts NOW, not the future.

Now it is your turn to contradict yourself :
predicts & NOW
I didn't think I'd really have to expand on that. If the bidsum is still hitting new lows, then the price will, too. If we suddenly saw a spike in bidsum, then you'd expect a price rise. Not really contradictory, it just can't predict a month from now, because bidsum can fly up and down.
Quote from: Afrikoin on March 19, 2015, 08:02:43 PM

No...