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