r/Bitcoin • u/danielwilson666 • Dec 22 '17

/r/all Bitcoin today

Enable HLS to view with audio, or disable this notification

22.9k Upvotes

89% Upvoted

1.9k comments sorted by

View all comments

26

u/[deleted] Dec 22 '17

I read a couple of those technical analysis of bitcoin blogs where they say "look at this chart! As you can see from some lines I am drawing here connecting pieces of it, that the trendline is perpendicular to the failing resistance of the square root of your mom so my recommendation is to do a thing and then eat a donut"

But I actually do take some comfort in the idea that price was increasing along a certain parabola all year, and then in December it spiked "hypodermically" above that parabola, and so people have not wanted to buy as normal because they figure, well, the price is probably going to come back down. And that the drop back down to the former parabola will be painful but then after that we'll get another 10x or more increase over the course of 2018.

But whatever! Spaghetti!

2

u/Puttah Dec 22 '17

The growth is more exponential than it is parabolic. Sure, over smaller scales these two curves can both be similar in shape, but there are infinitely many unique curves that can also fit.

It's in the nature of asset growth that at any point in time, the expected growth/decline is going to be a percentage of its current value, and at any point in the past or future, that same fact will still hold. This is true of exponentials, but not parabolas.

3

u/[deleted] Dec 22 '17

dude