Nearing Bottom

[nomoreheroes7]

Hope that bottom comes in sooner than later...things are looking downright brutal on BTC38.

[Markus]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

I don't care if there is no causation.

... as long as the correlation continues ... :)

[jsidhu]

You could find the same pattern by taking the Bitcoin curve only between June and August 2011, that's what fractal means.

Consequently the inference you are making about the lenght of the bear market is incorrect and we could be very far from the bottom. I only see wishful thinking.

Patterns repeat with disregard to timeframes... I know GANN used time to pick market turns, but has nothing to do with patterns.

In the end for a trader it provides a slight edge, and that edge is the difference if followed through with a strict system... however for holders its still always 50% 50%... its really just pumping the crowd.

[BldSwtTrs]

You could find the same pattern by taking the Bitcoin curve only between June and August 2011, that's what fractal means.

Consequently the inference you are making about the lenght of the bear market is incorrect and we could be very far from the bottom. I only see wishful thinking.

[Helikopterben]

Its psychology... patterns tend to repeat themselves.. this is a good find thanks. Human greed and emotions can be repeat in the same way.. price doesn't always reflect it.. usually rhymes though.

Exactly

[jsidhu]

Its psychology... patterns tend to repeat themselves.. this is a good find thanks. Human greed and emotions can be repeat in the same way.. price doesn't always reflect it.. usually rhymes though.

[Helikopterben]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

I didn't say one caused the other.  I said they are following similar patterns.

[arhag]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

Absolutely. Then again...

http://en.wikipedia.org/wiki/Self-fulfilling_prophecy

[xeroc]

http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation

[Helikopterben]

The top image is a price chart of bitcoin in 2011.  The bottom image is a current price chart of bitshares.



Bitcoin experienced a 5.5 month, 94% decline in the second half of 2011.  Bitshares has so far experienced similar, although a bit longer and not quite as deep.  Bitcoin then embarked on a bull market and I believe bitshares could experience the same as it has by far the best model of any other 2.0 project out there, at least as far as market pegged assets go, which has enormous potential.  We may see another dip or two to complete the bear, but it looks like the worst is over.  We shall see.