3 ms·

Yes, past performance is not a predictor of the future, but how does one reconcile with this: https://i.imgur.com/96bngmB.png https://i.imgur.com/96bngmB.png

Yes, past performance is not a predictor of the future, but how does one reconcile with this: https://i.imgur.com/96bngmB.png https://i.imgur.com/96bngmB.png (If seeing on mobile, use "desktop mode" to see the HQ image) - It goes up. - Falls. - Recovers to last high. - Then moves up again. - Repeat. Yes, period of recovery varies. Yes, every cycle percentage highs are getting less and less. But one thing is constant: once the price recovers to the last high, a bull market starts.

simias 6y ago
It works every single time until it stops working. Playing the numerology game with charts and trends is astrology for people investing in the stock market. The only question you should be asking yourself is: is Bitcoin actually valuable or is it a pure speculative bubble that's bound to burst sooner or later.
- ativzzz 6y ago
  > The only question you should be asking yourself is: is Bitcoin actually valuable or is it a pure speculative bubble that's bound to burst sooner or later. You could say the same thing about the US stock market
  - simias 6y ago
    I can say the same think about any stock ever. That's the point.
  - dodobirdlord 6y ago
    Sure, you can ask that question about literally anything. In the case of the US stock market though the answer is obviously yes, so what's the point?
- qot 6y ago
  You can say that about gold. The metallurgical / industrial value is no where near $1,800/oz. It's a speculative bubble that's bound to burst sooner or later. Maybe after another 5000 years.
adflux 6y ago
https://en.m.wikipedia.org/wiki/Tulip_mania https://en.m.wikipedia.org/wiki/Tulip_mania
- mszcz 6y ago
  Ugh. Tulips weren’t scarce, easily transferable, divisible and didn’t last. The comparison has no place in a discussion. As for the bubble argument - there have been bubbles in other asset classes and no one calls them out as worth nothing because of overly aggressive speculation.
- webinvest 6y ago
  That's different. I can grow tulips in my backyard or greenhouse but I can't grow gold, bitcoin, or certain stocks.

simias 6y ago

It works every single time until it stops working. Playing the numerology game with charts and trends is astrology for people investing in the stock market. The only question you should be asking yourself is: is Bitcoin actually valuable or is it a pure speculative bubble that's bound to burst sooner or later.

ativzzz 6y ago
> The only question you should be asking yourself is: is Bitcoin actually valuable or is it a pure speculative bubble that's bound to burst sooner or later. You could say the same thing about the US stock market
- simias 6y ago
  I can say the same think about any stock ever. That's the point.
- dodobirdlord 6y ago
  Sure, you can ask that question about literally anything. In the case of the US stock market though the answer is obviously yes, so what's the point?
qot 6y ago
You can say that about gold. The metallurgical / industrial value is no where near $1,800/oz. It's a speculative bubble that's bound to burst sooner or later. Maybe after another 5000 years.

adflux 6y ago

https://en.m.wikipedia.org/wiki/Tulip_mania https://en.m.wikipedia.org/wiki/Tulip_mania

mszcz 6y ago
Ugh. Tulips weren’t scarce, easily transferable, divisible and didn’t last. The comparison has no place in a discussion. As for the bubble argument - there have been bubbles in other asset classes and no one calls them out as worth nothing because of overly aggressive speculation.
webinvest 6y ago
That's different. I can grow tulips in my backyard or greenhouse but I can't grow gold, bitcoin, or certain stocks.