Good morning! A brief thought for today:
Look at the number of posts, not the price
It's interesting how the "bitcoin is dead" crowd is appearing out of the woodwork, just like they did the last time in 2012. Amidst all the angst, one might think that there was a shred of truth to it. The people selling everything and getting out certainly feel that way. They're looking at the wrong metrics.
Of course, one could just look at the number of posts on all the bitcoin forums, which will quickly demonstrate that there are more posts than there have ever been before. The previous bull markets didn't come close to the post volume there is nowadays.
People who are panic selling because "bitcoins are dead" might want to consider: is there any other technology in the world that is "dying," but where the number of people complaining about its death is growing by the day?
Brief thoughts - Tuesday, September 30, 2014
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Purpose
This forum is a place to discuss bitcoins, altcoins, cryptocurrencies, and random thoughts about life.
Topics
Topics may include bitcoin prices, outlooks on altcoins, cryptocurrency development, economics, and more. Feel free to share outlooks on other things as long as the major focus is on cryptocurrencies.
In-depth topics only
Replies to posts may be of any size, but new topics must contain original research and be at least two paragraphs in length. While references to external articles are allowed within topics, simply posting a link without discussing its importance or debating its truth is disallowed. Consider this place a huge blog where anyone can post.
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Steve Sokolowski
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- Joined: Wed Aug 27, 2014 3:27 pm
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Re: Brief thoughts - Tuesday, September 30, 2014
It certainly does feel like one way or another, we're coming to a head...
Someone else on r/bitcoinmarkets pointed out that October is historically a very bad month for bitcoin's price, and possibly just commodities in general. Frankly I think there is some external influence pushing the price down artificially, there's no other explanation for the constant downward price in spite of all the consistently good news.
Someone else on r/bitcoinmarkets pointed out that October is historically a very bad month for bitcoin's price, and possibly just commodities in general. Frankly I think there is some external influence pushing the price down artificially, there's no other explanation for the constant downward price in spite of all the consistently good news.