Anyone knows about that new china taobao crypto ban? Could it be the cause?
no.
guys... this is what happens when we go parabolic above a trendline after a bubble. the same thing happened in April-May.
i hope all of the newer traders who were confused as to why i was unsettled by this weekends rally, and the multiple warnings of "we'll pay for this later" understand now.
+1
haha you're obviously not a merchant trying to actually use bitcoin as a currency, or anything like that
like i said, sometimes i believe the crap about speculators being good for a market, but then again this bullshit happens with frightening regularity...
I've been wondering about this. It's not the conventional wisdom, but (absent constantly-updating LED price stickers or some unsettling thing like that) is it not possible, if you are a merchant, or a user, trading for goods that are fairly normal (bread, eggs, milk, detergent, etc.) to just kinda price things at the trendline, and not give a shit about the instantaneous cost? Basically, price things in BTC, along a trend. So, for me, with my analysis, despite all this, let's say we plot with a trend using a weighting system that accounts for good and bad news, weekend movements, etc. for maybe a 9-day weighting period. So, maybe the present FMV of 1.0 BTC is just $900. So, price everything accordingly and don't care about the movement. Even in USD, gasoline fluctates about almost as much as BTC does. You just don't have people waiting to buy gas for the right rate, or rates flipping around on the signs several times per second. I feel like it is possible.
