Master Don Juan
- Sep 22, 2006
- Reaction score
- New England
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bubbles do not have to go back to zero. This is 100% incorrect logic. Another case - AIG:Bubbles go back to zero. Where does this go back to zero? lol
Not bouncing. Down almost 12% from your random trend line.
It's exactly because the vast majority of people don't think rationally that charts are predictable - herd-like boom and bust behavior is predictable.Charts can't be used as a predictive tool for bitcoins.
It's because the vast majority of people buying/trading bitcoins don't think rationally.
If the vast majority of people trading are highly intellectual people - who thinks rationally then using charts as a predictive tool works.
The problem is that the vast majority of humanity don't belong to the subset known as intellectuals - who doesn't think rationally which charts cannot predict given its nature.
Another problem would be big hoarders of bitcoins, they would sometimes dump their holdings and that causes drop in prices, something no chart can predict.