The bitcoin singularity approaches

With the data feed from Bitstamp as dead as a dead parrot here are my latest charts reimagined using btc-e data. Still of course using the awesome TradingView website to generate these charts.
In a way I’ve found it quite refreshing starting from scratch again and here is my initial findings. All the data points to a bitcoin singularity approaching towards the end of April this year. At which time the consequences are still unknown. Some computer scientists think the network will grind to a halt and time will dilate according to Einstiens theory of special relativity, meanwhile other boffins think the hash rate could thrash to infinity. Financial eexperts on wall street and grey haired keepers of the hallowed central banking printing presses are even now puzzling over the likely outcome of this amazing event. If this ends up being contagious to other markets then we may see the S&P plummet to levels last seen in 1929, meanwhile gold will probably take a slight dip on the news.

Here is the evidence for this startling event shown on btc-e with 1 day candles and log price scale in US dollars.

The bitcoin singularity

Looking at a similar chart on linear scale leads to very similar inevitable singluarity although hinting it may even appear sooner than the log chart suggests.

Good luck out there.

Advertisements

9 thoughts on “The bitcoin singularity approaches

  1. Singularity? Dude just let price action dictate the price and then we can decide what to do after. Like your site by the way. Cheers

  2. In the bitcoin singularity chart, what are the prices that the 2 downtrend lines correspond to if price were to bounce next week? It’s hard to tell because of the log scale. I’m looking to unload some coins on the bounce if it reaches $360 next week.

    1. Edit. oops looked at wrong chart initially:

      On log chart the lower is $340 and the upper is at $375.

      On linear chart lower is at about $310, if it got through that upper line would be about $340

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s