Bitcoin Price Pressure

Re:Bitcoin Price Pressure by obilgic on Wednesday April 30, 2014 @04:27PM (#7676168)

This chart isn't even logarithmic.

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Re:Bitcoin Price Pressure by ars on Wednesday April 30, 2014 @06:33PM (#7676924)

Agreed.

Any time you see a financial graph that isn't logarithmic you can immediately ignore it as garbage.

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Re:Bitcoin Price Pressure by sillysaurus3 on Wednesday April 30, 2014 @06:46PM (#7676992)

I don't understand. It's BitcoinWisdom's default chart, and BitcoinWisdom is used by many traders in the Bitcoin community. What relevance does logarithmic scaling have here?

I wasn't saying the price was going to continue to linearly trend to zero. That would be impossible. I was saying I was an idiot for gambling that it wouldn't trend from $1100 to $400.

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Re:Bitcoin Price Pressure by ars on Wednesday April 30, 2014 @06:57PM (#7677053)

I know it's the default.

Compare: http://bitcoincharts.com/charts/bitstampUSD#rg360zczsg2013-0...

What looks like a huge fall to you in the old graph is actually revealed as a rather small fall compared to its history. Your point in the text on the graph is still correct, but it's not quite as bad as it looks there.

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Re:Bitcoin Price Pressure by pbreit on Wednesday April 30, 2014 @09:18PM (#7677610)

Log charts are extremely rare (ex, not the default at Yahoo Finance, Google Finance or Bloomberg) so that comment seems pretty hyperbolic.

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