This is a monthly log chart.
This idea is valid if and only if these conditions are satisfied:
1. BTC exists in 2021
2. The psychology of the investors and traders in the BTC market remains relatively the same since the previous all-time high at $1,175 (12/2013)
3. BTC continues to grow in an exponential (or parabolic) fashion
4. BTC mining farms are operational in 2021
5. The BTC network has the capacity to handle large volume at high prices
6. BTC continues to function as a store of value (similar to gold)
7. Global mass adoption takes place
8. The current crash lasts as long as the Mt. Gox crash and has the same severity with respect to decline in value
This post is highly speculative and is posted for observation only.
I personally think we won't break below $6,434 (price is supported from multiple vantage points) but anything is possible.
This idea is valid if and only if these conditions are satisfied:
1. BTC exists in 2021
2. The psychology of the investors and traders in the BTC market remains relatively the same since the previous all-time high at $1,175 (12/2013)
3. BTC continues to grow in an exponential (or parabolic) fashion
4. BTC mining farms are operational in 2021
5. The BTC network has the capacity to handle large volume at high prices
6. BTC continues to function as a store of value (similar to gold)
7. Global mass adoption takes place
8. The current crash lasts as long as the Mt. Gox crash and has the same severity with respect to decline in value
This post is highly speculative and is posted for observation only.
I personally think we won't break below $6,434 (price is supported from multiple vantage points) but anything is possible.