Gold has been, since ancient history, a special asset. Bitcoin is on its path to becoming a special asset. Some could successfully argue that Bitcoin shares many characteristics to gold. Wave III may be upon us. It could project to 126,876 using 11/2011 - 11/2013; 2.25 - 1163; 1.618 factor.
(1163-2.25)/2.25) = 51,588% *1.618 = 83,470%.
Use the low of II - 152 to set the projection.
152* 83,470% = 126,876
How does this projection compare to fundamental Bitcoin given gold characteristics and a current price factor:
167,000.00 tonnes = 35,274.00 oz/ton
oz gold: 5,890,758,000.00 price: 1123
1 bitcoins: 14,000,000.00 price: 296
Price factor: 3.794
Valuation: 5,890,758,000/14,000,000.00 = 420.77 - 421 oz gold to 1 btc
421 * 296 = 124,547.45
This number goes to 472,522 using a 1:1 price factor but that is a story for wave V.
(1163-2.25)/2.25) = 51,588% *1.618 = 83,470%.
Use the low of II - 152 to set the projection.
152* 83,470% = 126,876
How does this projection compare to fundamental Bitcoin given gold characteristics and a current price factor:
167,000.00 tonnes = 35,274.00 oz/ton
oz gold: 5,890,758,000.00 price: 1123
1 bitcoins: 14,000,000.00 price: 296
Price factor: 3.794
Valuation: 5,890,758,000/14,000,000.00 = 420.77 - 421 oz gold to 1 btc
421 * 296 = 124,547.45
This number goes to 472,522 using a 1:1 price factor but that is a story for wave V.