Crypto Currency Thread
Discussion
Thesprucegoose said:
That makes zero sense, it is clearly corralated and you cannot say it is short term, until it uncorrelates....
I absolutely can 
A short term connection does not indicate a meaningful correlation. Instead of cherry picking to suit your narrative, try zooming out. Show me the correlation on a high time frame (hint: that's months, years not minutes, hours).Behemoth said:
I absolutely can A short term connection does not indicate a meaningful correlation. Instead of cherry picking to suit your narrative, try zooming out. Show me the correlation on a high time frame (hint: that's months, years not minutes, hours).
We are talking about current situation, If 'whales' have to liquidate due to the stock market, then it is clearly correlated.. A short term connection does not indicate a meaningful correlation. Instead of cherry picking to suit your narrative, try zooming out. Show me the correlation on a high time frame (hint: that's months, years not minutes, hours).How can anyone see it for anything thing else.
Your viewpoint is short term. It always has been on this thread.
There are times when bitcoin has tracked gold for a few hours. Other times it's moved in the opposite direction. Same with stocks, sometimes bitcoin follows, sometimes it goes in the opposite direction. But zoom out and there is no discernible pattern in connection to other assets. It's uncorrelated.
You focus on the short term. My horizon is long term. That's our difference. A connection for a few hours or days is no evidence of meaningful correlation.
There are times when bitcoin has tracked gold for a few hours. Other times it's moved in the opposite direction. Same with stocks, sometimes bitcoin follows, sometimes it goes in the opposite direction. But zoom out and there is no discernible pattern in connection to other assets. It's uncorrelated.
You focus on the short term. My horizon is long term. That's our difference. A connection for a few hours or days is no evidence of meaningful correlation.
Behemoth said:
Your viewpoint is short term. It always has been on this thread.
You would say that as any negative about BTC would be viewed as 'short term'. I'm pretty open, I don't think i'm as entrenched in my outlook as you are, my views have changed over time, whereas yours have always been the same. But it is not about my views it is about what is happened now, BTC tracked with oil, then with the stockmarket, correlation is there to see, is it short term?, we will have to check back in a few months on that.
Edited by Thesprucegoose on Thursday 12th March 13:52
Behemoth said:
Your viewpoint is short term. It always has been on this thread.
You would say that as any negative about BTC would be viewed as 'short term'. I'm pretty open, I don't think i'm as entrenched in my outlook as you are, my views have changed over time, whereas yours have always been the same. But it is not about my views it is about what is happened now, BTC tracked with oil, then with the stockmarket, correlation is there to see, is it short term?, we will have to check back in a few months on that.
I'm sure the market will go down further, i bought in, chainlink and eth.
Edited by Thesprucegoose on Thursday 12th March 14:07
Thesprucegoose said:
I don't think i'm as entrenched in my outlook as you are, my views have changed over time, whereas yours have always been the same.
At the beginning of this thread, summer 2017, I held a variety of tokens. My views certainly changed. I quickly consolidated on bitcoin as the only real asset of long term worth in this environment. That's both from a technical and a fundamental monetary aspect.I don't waste time chasing this week's 10x pump and dump flavour of the month trades. I abandoned eth long ago. An apocalyptic upgrade path + a move fast & break it dev attitude totally unsuited to finance makes for a terrible long term proposition.
rufusgti said:
p1stonhead said:
Who could’ve guessed that when the s
t hits the fan, no one gives a crap about some code somewhere.
Bitcoin was designed to be a haven in exactly this situation, and it’s all bullst.
Ouch, how much did you lose buddy??t hits the fan, no one gives a crap about some code somewhere. Bitcoin was designed to be a haven in exactly this situation, and it’s all bulls
t. So i do think most alts will die.
However looking at bitcoin, if you look at the 200MA line on a WEEKLY chart it has ALWAYS bounced off it, the current 200ma is 5500, and bitcoin has just bounced off it, overall over the past 10 years btc has always increased in value with bull markets and bear in between.
If it goes below then ill retract what i said.
However looking at bitcoin, if you look at the 200MA line on a WEEKLY chart it has ALWAYS bounced off it, the current 200ma is 5500, and bitcoin has just bounced off it, overall over the past 10 years btc has always increased in value with bull markets and bear in between.
If it goes below then ill retract what i said.
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