It's funny to see the reaction of people, staring in total disbelief at the prices. Why?
Because they do not think in exponential terms. The human brain is just used to think in linear terms, exponential rises take a lot getting used to.
But bitcoin? It was rising exponentially for a while, and now it entered over-exponential territory.
This means that in the logarithmic chart we don't have a line any more, but a parabola.
That is why the time for a doubling of the price will get shorter and shorter.
I drew the logarithmic trend channel and these are the possible reversal zones:
1.st at around 25K
2nd at around 75K
3rd at around 145K
If the full move is done, we could see, and I now it sounds insane, 145K until the end of march 2018.
I think 25K is the most realistic scenario, with about 60% probability. Timeframe: December-January
75K with 30% (timeframe: end of february), and 145K with 10%. It's just an estimate, but it's good to know these important resistance lines.
Because they do not think in exponential terms. The human brain is just used to think in linear terms, exponential rises take a lot getting used to.
But bitcoin? It was rising exponentially for a while, and now it entered over-exponential territory.
This means that in the logarithmic chart we don't have a line any more, but a parabola.
That is why the time for a doubling of the price will get shorter and shorter.
I drew the logarithmic trend channel and these are the possible reversal zones:
1.st at around 25K
2nd at around 75K
3rd at around 145K
If the full move is done, we could see, and I now it sounds insane, 145K until the end of march 2018.
I think 25K is the most realistic scenario, with about 60% probability. Timeframe: December-January
75K with 30% (timeframe: end of february), and 145K with 10%. It's just an estimate, but it's good to know these important resistance lines.