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prOboomer t1_j3fi7fv wrote

looks like a bottom to me

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Classic_Row6562 t1_j3gq8r0 wrote

What is the meaning of the red line?

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axkee141 OP t1_j3gxr5y wrote

Oh oops, I kinda rushed this post as a response to negative feedback from a log graph that I posted last night. The red line is a line of best fit that goes through all the data that I forgot to delete before posting this one. It's the same line in each graph.

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axkee141 OP t1_j3fhwkt wrote

Source: https://coinmetrics.io/community-network-data/

From there I downloaded bitcoin from the asset dropdown and graphed it using LibreOffice Calc. I stuck with a linear graph because I recently found out log graphs are used to deceive people. These graphs show bitcoin's various bubbles and crashes on a linear scale so they needed to be graphed separately. I don't think it's as beautiful as one log graph, but hopefully it's easier to interpret

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ben_r_ t1_j3firom wrote

Man, hasn't moved much in the last few months.

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axkee141 OP t1_j3fjhue wrote

It did drop about 20 percent since early November, but 10-20% swings are just a normal Tuesday for bitcoin. The big 80% changes happen less frequently.

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jakubkonecki t1_j3h1u8z wrote

Please rename 'value' to 'price'.

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axkee141 OP t1_j3h2jtp wrote

I'm not well versed in finance so I treated those as synonyms when they aren't

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jakubkonecki t1_j3h2wqy wrote

And what is beautiful about your charts?

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axkee141 OP t1_j3h3uri wrote

Well I don't think these ones are particularly beautiful, it was a response to this post:

https://www.reddit.com/r/dataisbeautiful/comments/1064snb/oc_bitcoin_value_over_time_from_2010_to_2023/

Apparently people don't like that one either though so I guess beauty is subjective. I like seeing bubbles and crashes

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jakubkonecki t1_j3hbu47 wrote

If the charts are not particularly beautiful than this isn't the best sub for them.

If you like bubbles and crashes than they look much better without logarithmic scale. Log scale is usually used by proponents to 'hide' declines.

Maybe you should think about how to better present the changes in prices. Compare with other bubbles. Or compare with well know products that have stable prices to underline how ridiculously expensive they would be if they appreciated in the same way as BTC.

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axkee141 OP t1_j3helao wrote

I guess I'm still trying to wrap my head around log graphs being used to "hide" data since more of the data is able to be read than on a linear graph. I guess I need to take into account that even if more data is visible, it's in a less digestible form for people who aren't used to log scales. The data ends up being communicated poorly to a general audience

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agm7779 t1_j3wi8f1 wrote

u/axkee141 don't worry. Beauty is indeed subjective, and need not have 3d animations and a spectrum of colors to necessarily be considered beautiful. Sometimes the presentation of a trend alone achieves beauty. Keep being curious. u/jakubkonecki cry harder freak

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jakubkonecki t1_j3witrh wrote

I'll try harder - my criticism of the chart beauty is not about subjective notion of colours or fancy animations, but more objective one of small - bordering on illegible - labels.

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willehkins t1_j3kcukx wrote

With a virtual commodity like Bitcoin, the price is all there is to the value…

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debunk_this_12 t1_j3i1wxv wrote

Try a log returns on the day. r = ln(p_i - p_{i-1}). This is typically how time series are analyzed

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