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*** Official Bitcoin Price Discussion Thread ***

Discussion in 'Crypto Currency & Mining' started by morguk, Dec 28, 2016.

  1. 413x

    Capodecina

    Joined: Jan 13, 2010

    Posts: 18,250

    Location: Cardiff

    More nice increases.
    Some big moves especially for SV
     
  2. silversurfer

    Capodecina

    Joined: Jul 13, 2004

    Posts: 18,929

    Location: Stanley Hotel, Colorado

    SV moved on court case news apparently.

    We already past the July negative trend seems like to me though its strands more then one definite absolute trend I guess. Past 50 day, 50 week, only 200 day above which is where some profit taking could be but overall its quite bullish since flat lining over previous weeks.
     
  3. silversurfer

    Capodecina

    Joined: Jul 13, 2004

    Posts: 18,929

    Location: Stanley Hotel, Colorado

  4. SlyReaper

    Soldato

    Joined: Apr 26, 2008

    Posts: 6,437

    Location: Bristol, Old Blighty

    That article...

    Oh. Oh dear.
     
  5. illuz

    Mobster

    Joined: Apr 27, 2012

    Posts: 3,298

    Seems just like yesterday
     
  6. illuz

    Mobster

    Joined: Apr 27, 2012

    Posts: 3,298

    Re-test of the breakout is going fine. I think we're looking superb at the moment. A few more weeks and we'll know whether it's ON! https://www.thehalvening.com/ shows that we have less than 8.5% of blocks left to find before the reward halves again, exciting times. Patience rewards the holder, sit back and relax.
     
  7. SlyReaper

    Soldato

    Joined: Apr 26, 2008

    Posts: 6,437

    Location: Bristol, Old Blighty

    Supported by the 200 day EMA, and on its way back up again. Cool.

    I still think TA is nonsense, at least as far as predictive power, but it's still nice to see.
     
  8. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 39,928

    Location: Aberdeenshire

    It’s over 9000!
     
  9. SlyReaper

    Soldato

    Joined: Apr 26, 2008

    Posts: 6,437

    Location: Bristol, Old Blighty

    Aaaand it's gone.
     
  10. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 39,928

    Location: Aberdeenshire

    Jinxed it :o
     
  11. SlyReaper

    Soldato

    Joined: Apr 26, 2008

    Posts: 6,437

    Location: Bristol, Old Blighty

    Aaaand it's back.

    Edit: nope, gone again

    If I didn't know any better, I'd think there was something special about the $9000 level.
     
  12. EssexBoy

    Wise Guy

    Joined: Jun 13, 2013

    Posts: 1,251

    Location: Essex/East London

    She is on a run at the moment
     
  13. illuz

    Mobster

    Joined: Apr 27, 2012

    Posts: 3,298

    Floating alone nicely. Patience, as always. The holder is rewarded :)
     
  14. Trusty

    Capodecina

    Joined: Mar 12, 2006

    Posts: 11,394

    Location: On A Rocket

    It's going to be interesting to see what happens to Bitcoin if this coronavirus turns ugly.
     
  15. Th0nt

    Soldato

    Joined: Jul 21, 2005

    Posts: 6,980

    Location: N.Ireland

    Yeah Im not sure why some influencers think it may go up, I would have thought it would only go down.
     
  16. SlyReaper

    Soldato

    Joined: Apr 26, 2008

    Posts: 6,437

    Location: Bristol, Old Blighty

    People get sick -> people don't go to work -> company makes less profit -> stocks go down in value.

    Some of the money being pulled out of stocks may go into cryptocurrency investment, because cryptocurrency values are uncorrelated to stocks. It only takes a tiny fraction of the money in stocks to go into Bitcoin to noticeably influence the price.
     
  17. Bigpops

    Mobster

    Joined: Oct 18, 2002

    Posts: 4,195

    Location: Sheffield, UK

    There's one problem with that statement. Cryto prices more correlated with stocks than not.

    Currently it's about 0.55 on the correlation coefficient between BLX (bitcoin liquid index) and SPY (S&P 500 ETF). 1 being 100% corelated,
    There have only ever been 18 months total where they were negatively correlated.
     
  18. 413x

    Capodecina

    Joined: Jan 13, 2010

    Posts: 18,250

    Location: Cardiff

    0.55 is a terrible correlation
     
  19. Bigpops

    Mobster

    Joined: Oct 18, 2002

    Posts: 4,195

    Location: Sheffield, UK

    It's positive correlation though, not negative as is often assumed to be the case.
     
  20. Th0nt

    Soldato

    Joined: Jul 21, 2005

    Posts: 6,980

    Location: N.Ireland

    Its an assumption though isnt it? A rather woolly one. If you had an event in past ten years that reflected ahh this was the <x> incident, and as you can see stock prices plummeted and BTC went up, then you could base some weight to it.

    All I seen in the past few years is the stocks/economy falling then so does BTC.