Recognition of self similarity is useful in the practice crypto trade.
Don’t be fooled by the alarmist journalists, or the supposed economists who cannot even read a log plot: http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-1
As a reminder; here’s the pretty log linear price 🙂
If bitcoin price movements are fractals, and fractals don’t have ends, but the bitcoin boom MUST end, well, hmm. Bitcoin ceases to be a fractal some day. Conclusion: bitcoin needs to make some radical moves to circumvent its mathematically certain death. I still give it a fighting chance 😉
I must thank brilliant Forex trader and financial analyst Ed Matts [I sincerely recommend signing up for twitter just for this man: @EdMatts] for his refreshing take on currency pairs, stocks, and other markets for the inspiration of this image. He is also a big part of the reason I have been able to stay one step ahead of bitcoin so far. Thanks Ed!