Degrees of Crazyness Part II

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
530 3 1
So this is the linear chart to part one of this series. If you havent had a look at the logarithmic chart go here and come back for comparison, I also state how I made this chart:

Now have you noticed how in this chart the values of degrees are higher? The bottom trend from early January is even shallower then the steady uptrend since July this year! I guess its because of some relationship between logarithmic and linear scale that produces these distortions. Let me know what you make of it!

@Sr. Botones and increase in BTC users: How many more Bitcoiners do you think we have accumulated since the last bubble? The steepness of the current slope compares very well with the one of the last bubble from 150-190$, even the price range is similar, as is the volume if you remind yourself that Gox now has 1/3 of the total market share it had back then for USD (which is used for this chart). The volumes across exchanges also match up. Whether we actually have more BTC users now then back then doesnt matter, what it comes down to is the volume that is spent on BTC (it could be one guy spending millions or 1 million Chinese each spending a dollar). This leads to the conclusion that this bubble will burst in the near term, just like the prior one with similar conditions.
You are not taking into account the increase of th number of bitcoiners, specifically asians. An increase of the 30% of the total number of bitcoiners due to the mining difficult and the more risky invest that it represent to them. This price is not bubbled because this increase in value is due to the need for free trade in Asian market. From my point, both curves are not comparable. Bitcoin infrastructure is more capable and more prepare to resopnd properly to the demand. More exchange diversification and more money was invested after the previous crash to avoid similar situations

Before the end of this month, we could reach without any difficulty the $230 and maintaining the uptrend

Cheers ;)
This is the bitcoin. This is not a normal market. Current lead developer said: "I predict there will be between one and five Bitcoin bubbles (price will double or more and then crash back down below the starting price) in the next four years" on July 09, 2010. Well - only a little more than half a year left and we have seen two bubbles this far. Maybe it is time for another one. Don't trust your normal market skills - bitcoin is crazy and the fact that the price should go down might in fact make it go into crazy-mode. This said there will of course be a correction - it just doesn't have to come just yet. Also this bubble mode is even further inflating because a lot of the weak holders got out at the silkroad bust nearly a month ago. This is crazy times
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