Everyone is saying: "Look at the trends! Don't get stirred by emotions, it's all in the TRENDS, TRENDS TRENDS!". I think we all agree, we just disagree about the trends we should be looking at. Here are some of the trends I found. Hear me out and feel free to break it down and critique.
Take the 'my trend lines' the be the lines that go from lowest drop to lowest drop within a couple of month's frame, they can also be called 'low-to-low trendlines'. Since we cannot really trust the 'up-trend' (else called a bubble') I am here using the down-trend to see what people are valuing BIT to be in the minimum value scenario.
So, if you look at the changing low-to-low trendiness we see them increasing in time (from 1 to 5, and possibly 6). We have not yet seen this pattern go down, yet.
Many are speculating BTC to go down below 2K, if this turns out to be true than we can begin talking about 'downtrend' and dark times. However, until now the 'low-to-low' trendiness have been pointing upwards more and more, which makes sense if we think about the huge spike in demand. Therefore, following this trend, I would expect the new low to remain above the 3K.
One cannot just be looking at the graphs without an understanding of the laws of supply and demand! The graphs can't be going down just because it would look good on a chart. Look at the Trends, yes, but don't be fooled by those who claim to 'know' the trends.The graph is an abstraction in the end, and it only 'represents' the ups and downs connected to supply and demand , please don't forget that.
It is possible that we are in a downward ( bearish ) cycle, but this is not what the low-to-low trend lines are showing.
Please do share your thoughts and comments! They would be much appreciated. This is a thought, not even an opinion, so do go easy on me please. Also, do not base your trendes entirely on this thought alone, be careful and take it easy guys.
Take the 'my trend lines' the be the lines that go from lowest drop to lowest drop within a couple of month's frame, they can also be called 'low-to-low trendlines'. Since we cannot really trust the 'up-trend' (else called a bubble') I am here using the down-trend to see what people are valuing BIT to be in the minimum value scenario.
So, if you look at the changing low-to-low trendiness we see them increasing in time (from 1 to 5, and possibly 6). We have not yet seen this pattern go down, yet.
Many are speculating BTC to go down below 2K, if this turns out to be true than we can begin talking about 'downtrend' and dark times. However, until now the 'low-to-low' trendiness have been pointing upwards more and more, which makes sense if we think about the huge spike in demand. Therefore, following this trend, I would expect the new low to remain above the 3K.
One cannot just be looking at the graphs without an understanding of the laws of supply and demand! The graphs can't be going down just because it would look good on a chart. Look at the Trends, yes, but don't be fooled by those who claim to 'know' the trends.The graph is an abstraction in the end, and it only 'represents' the ups and downs connected to supply and demand , please don't forget that.
It is possible that we are in a downward ( bearish ) cycle, but this is not what the low-to-low trend lines are showing.
Please do share your thoughts and comments! They would be much appreciated. This is a thought, not even an opinion, so do go easy on me please. Also, do not base your trendes entirely on this thought alone, be careful and take it easy guys.