Besides the downtrend, it seems that the relationship between price and works very well here, and one can use this information to predict key areas on the chart. I can tell you that the next key interest area is the 150$, where the lows of the extreme range days are.
By looking strictly at the price action, it is pretty obvious to me that after periods of consolidation, starts moving.
I am not a trader, I have never traded it. However, if I had to trade it, I would go short and I would be very comfortable with my position.
Question: How much of the performance/rise of the S&P 500 these last 5-6 years could be construed as a result of "fundamentals"?
Answer: None. Despite the pumping from CNBC, the government and main stream media's claims of a "recovery", there is little factual evidence to support it.
Chinese exchanges to look at are BTC China, OKCoin and Huobi. With Tradingview you can even look at an volume average of all three by analyzing this:
Here is the result of the above price volume average:
If volume analysis works for you, that is great. I have determined it to be too unreliable and lagging and I rather focus on price alone to be ahead what could happen instead of being behind what already happened (volume spikes).
I think what you are expressing about the technology of Bitcoin versus the price is a common misconception. Usually I have seen it expressed by people who were sure the price was going higher. Bitcoin is a technology - much like a hard drive, computer chip, automobile, etc. The prices on all of these things has fallen over time. Do you think a car is less brilliant an invention as it becomes more affordable. A terabyte of hard drive spaced used to cost over $1,000,000 and now you can buy a terabyte hard drive for close to $50.00. Does that make the hard drive any less useful?
The technology of Bitcoin as ledger, quick and inexpensive means to move money, and programmable money is not less valuable to society just because the Bitcoin price dropped.
If you look back at speculative bubbles you will see that money pours into innovations such as the locomotive, automobile, etc. Vast fortunes were made and lost in those technologies. It is the speculation that funds the innovation and makes it possible for some of the companies and inventors to succeed while most will fail.
Much of the future value of Bitcoin will be in innovations that involve the protocol rather than speculation about the price of Bitcoin itself. I do believe, over time, as Bitcoin finishes the bottoming prices, that there will be a good opportunity to speculate and make a nice profit - not necessarily the kind of profit one would have made had they bought closer to the beginning, but still a good profit. However, one shouldn't confuse the utility of the Bitcoin protocol with the cost of Bitcoin on an exchange. They are not the same thing.
I didn't say you did or did not say Bitcoin was a good invention. I did say that a common mistake people make is assuming that the utility of the Bitcoin protocol is directly related to price - it is not. It's no more related to price than other technologies.
I dunno. Some headshops might go bust.
Can I have -5 for that mod so I beat rivet.popper? I haven't had a good minus number for ages :)