klondike_bar
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ASIC Wannabe


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June 09, 2015, 02:54:57 PM


I think i just found a bull's cryptonite.

That graph. Whenever i post that 2012-2015 graph, i just make 'em puke. They are going berserk on me shortly after. The truth...

They can't handle the truth.

I got involved in 2012 and was around for the entire bubble. Your assumption that that bitcoin will reduce to pre-bubble levels is silly.

first, why do you take $100 as the starting point? There was clearly a bubble a year earlier that went from ~$25 to $260 to $80, before another bubble formed.
secondly - if you think $100 was a correct price, how can you look at the mainstream acceptance of bitcoin today and not recognize it to be at least 2x that of what it was then?

theres a lot of resistance sub-$220, and limited upwards resistance if a bull market emerges (small plateaus around $300,$400,$600 are the only major resistance levels on a longterm chart). If the price breaks abouve $260 it could very easily go to $300 and test resistance and a trendline. Breaking that, it would be a bull market