Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
And if you don't know that the 2011 bubble went below its previous starting point
The 2011 bubble's starting point was $0.06.
The bottom after the crash was $1.99
What is especially interesting is that if you draw a least-squares fit trendline in the logarithmic price chart here, you get the same (+/- 10%) slope as with the whole of Bitcoin's price appreciation over the 5 years of its existence. Also if you take only 2013 as your data, again, same thing.
Now be my guest and rush to buy bitcoins and not understand that this information is only available because I spent days modelling it.
Out of curiosity when you superimposed this rally on top of those two things what does it tell you the new bottom is, when it will be met and at rate the rally will begin?
I have not done anything resembling that kind of analysis for weeks, so sorry - no new information.
Last time when I was predicting bubbles based on previous bubbles, the intraday post-bubble bottom should be about 1.7-1.9x the intraday pre-bubble ATH. So considering that the pre-bubble ATH was 266, now we are looking to have a bottom in the 452-504 range. And that is intraday, so according to this we should buy quite aggressively starting from 550, because it takes time to buy 1000s of coins.
My two calls for the high point of the bubble ($2000+ and 10kCNY+) were off.