Bitcoin parabolic

Discussion in 'Digital Currencies' started by tolly_67, Sep 2, 2017.

  1. tolly_67

    tolly_67 Well-Known Member

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    Super wow......
    My question is for those who aren't as lazy as me and are willing to investigate......Can you name a single commodity, share, ostrich etc that went parabolic and remained high? I can think of many that didn't.
    This is not a critical post about bitcoin. It is just that the parabolic rise in price has in the past been a harbinger of the end of the cycle.
     
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  2. hyphenated

    hyphenated Active Member

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    Parabolas can turn into S curves, as a limit is reached and the results approach it. The limit can be resources, population, you name it. One classic way of labelling the three phases is ferment, take-off and maturity - we are in take-off. At the maturity phase something else is likely to kick-in, either re-energising the process, or killing it off and substituting for it.

    Oh yeah - thickness of mechanical watches, price/performance of CPUs, et cetera.
     
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  3. whay

    whay Well-Known Member

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  4. southerncross

    southerncross Well-Known Member Silver Stacker

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    My question is, what will replace it ? Daffodils did not cut it in the flower range back then, but here we have a whole spectrum of replacements that are without doubt new improved forms of the original.

    If Keith Richards is BTC and there is only so much the drug addled body can withstand over time, life support will only last so long once the inevitable end of life cascade happens. Who or what is next ?
     
  5. raven

    raven Well-Known Member Silver Stacker

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    Looks as if bitcoin is not a currency any more !
    Do currencies swing this much ?
    :)
     
  6. southerncross

    southerncross Well-Known Member Silver Stacker

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    Yep just take a look at the Bolivar or the Zimbabwe Dollar for example. Both are or rather were
    Gov't Backed currency's.
     
  7. raven

    raven Well-Known Member Silver Stacker

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    More like a "stock" I reckon !
     
  8. tolly_67

    tolly_67 Well-Known Member

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    This really calls into question the suitability of bitcoin as a means of exchange. If I sell my car in exchange for 1 bitcoin, I could either be very happy or very sad within a short period of time. 5 grand turns into 7 or 3 grand.
     
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  9. tolly_67

    tolly_67 Well-Known Member

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    It has the hallmarks of the initial precipitous drop after the peak. Wait for the inevitable rapid rise which fails to reach the high, followed by the final collapse. Just like gold in 1980.
     
    leo25 likes this.
  10. neonuke

    neonuke Well-Known Member Silver Stacker

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    Except no one is trying to corner the bitcoin market like the Hunt brothers tried
     
  11. tolly_67

    tolly_67 Well-Known Member

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    Hunt was silver not gold.
     

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