I see people posting charts showing BTC following a horizontal parabolic trend (the curved green line) where the price of Bitcoin reaches a stable valuation several years in the future. I present here an alternate view showing a general growth trend (purple channel) that extends back to the beginning of BTC on Bitstamp and represents 150% growth year-after-year on average. There are moments of exuberance/hype (green channel) where the price skyrockets only to be followed by a crash that brings us back into the channel or below it (red channel). I've based this general growth channel on the steady 2-year growth from early 2015 to mid 2017. Now we are back in the channel, although note that we are on the high side of it. I couldn't tell you whether we go up, down or sideways from here but I think it's important to have an idea of the general growth trend of BTC while we are still in an early adoption period. What happens next depends on whether BTC actually has technical utility such that it reaches widespread adoption and whether investors see it as a store of value, has growth prospects or is just a pipe dream. From my perspective, I see a lot of talented and enthusiastic people putting their time and money on the line to develop the cryptocurrency infrastructure and drive the success and adoption of the world's most significant digital currencies. I include Ethereum and other important altcoins in this mix. There are sure to be more attempts at government regulation as well as more interest from institutional investors and retail trading operations. There are pros and cons of both probabilities. Personally, I'm excited about what is on the horizon and I'm excited to be a part of it.
Simple and effective charting, where exactly do you think price is heading to now?
quickshoe
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@DACapitalTrading, I couldn't tell you where we'll be at the end of the day today or tomorrow but I'm pretty sure that we'll see a new ATH by the end of the year. I also expect that we'll have another period of hype and exuberance within the next 3 years. We're currently testing the local high so we might see a move to the upside very soon. Or we could trade sideways for the near future, perhaps even testing the bottom of the channel.
quickshoe
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@DACapitalTrading, And now with this recent move with a higher high, I think we're going to see more upside.