Basil S.Wed, Sep 15, 2021 5:35 PM
Meme Investing 103: THE BART PATTERN, OVER 9000
In the cruel world of meme investing, there’s only one rule: you should know your memes, and you’d better know them well. Previously, we’ve explored some of the most obscure crypto memes out there, including the Bogdanoff twins, “MONEY PRINTER GO BRRRR”, and the Crypto Wojack. This time, we will cover two well-known memes that refer to the cryptocurrency price fluctuations, namely the Bart Pattern and the beloved “OVER 9000” meme.
“IT’S OVER 9000!” is a catchphrase that originated from the Japanese anime television series Dragon Ball Z, specifically the 21st episode titled "The Return of Goku". In crypto, this meme is used either to accentuate that a certain currency has had a significant rise in value, or in a more literal sense, to bring to notice that the price of a currency has reached $9000.
The line belongs to Vegeta, the recurring character of the series whose ferocious face is typically featured on pics dedicated to the meme (like the one above). The number “9000” refers to the power level of the main protagonist of the series, Goku: as he prepares to battle Vegeta and his ally Nappa at the climax of the episode, Vegeta notes that Goku’s power level has exceeded 9000 and yells out the line that was destined to become legendary:
The scene was turned into a meme in 2006 when a 4chan user Kajetokun uploaded it on Youtube as an inside joke made for friends. Shortly thereafter, a friend of his shared the video on 4chan; surprisingly for Kajeto, his edit of the scene soon went viral, inspiring a number of remix videos on and demotivational posters on 4chan.
Having existed outside of the crypto community for over ten years, “OVER 9000” finally made its way in crypto in 2017: there was a time where it was literally impossible to escape this meme on Reddit. Between 2017 and 2020, Bitcoin price hit the $9000 mark more than five times, meaning that every once in a while various images featuring Vegeta would basically take over every subreddit dedicated to crypto.
How does this meme hold up today, given that the price of Bitcoin last surpassed $9000 as long ago as May 2020? Technically, it can still be applicable whenever a given altcoin hits the same price point, so at least to some degree, “OVER 9000” will always stay relevant in one way or another, even though its golden days are certainly over.
Fun fact: in the original Japanese anime series dub, the power level of Goku is actually read as "over 8000": for some reason, the folks that were involved with dubbing the episode English decided to alter the line. So why did they opt to change it? Did they feel that “8000” was not enough, or does this mistranslation somehow imply the supremacy of English culture over the Japanese? We’re left to wonder.
The Bart Pattern
When looking at the Bitcoin price chart, you can often notice a recurring pattern characterized by a sudden rise in the currency’s price followed by a sideways movement and a sudden drop. Sometime around 2018, crypto investors realized that this pattern resembles the head of Bart Simpson, the iconic character from the longest-running television series in existence. Thus, a meme was born.
Due to the low liquidity of cryptocurrencies, Bart patterns are quite common not only for Bitcoin but for crypto in general; some experts argue that its occurrence might be related to large crypto traders (whales) or institutional manipulations. According to TradingView:
It is possible that this pattern is sometimes created by institutional manipulation, as it is similar to the manipulation patterns pointed out by Richard Wyckoff in the stock market of the very early 1900s. The main thing to be cautious of is that the patterns are designed by manipulators to catch out retail traders, because in a low liquidity environment they have to shake retail traders out of their positions in order to fill the manipulators orders, as with limited liquidity a large order can't be made without pushing the price away from where the manipulator would like.
It’s worth pointing out that the ability to quickly recognize this pattern can hugely affect one’s short and mid-term trading positions — so if you happen to be an investor, it would certainly not be amiss to learn how to do that.
Now that you’ve learned so much about the intricacies of crypto memeology, it would be a good idea to go out there and try to decipher a couple of fresh memes on your own — after all, what’s the use in having all this knowledge if you don’t put it into practice? We’ll be back with new memes for you in no time, so stay tuned — and remember to know your memes!