Discussion in 'Crypto Currency & Mining' started by morguk, Dec 28, 2016.
More nice increases.
Some big moves especially for SV
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.
Went from 50 day to 200 day and bit of a sell off that point. Still above weekly average so I'd guess its fine till it loses that
Oh. Oh dear.
Seems just like yesterday
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.
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.
It’s over 9000!
Aaaand it's gone.
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.
She is on a run at the moment
Floating alone nicely. Patience, as always. The holder is rewarded
It's going to be interesting to see what happens to Bitcoin if this coronavirus turns ugly.
Yeah Im not sure why some influencers think it may go up, I would have thought it would only go down.
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.
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.
0.55 is a terrible correlation
It's positive correlation though, not negative as is often assumed to be the case.
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.
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