I think it fits perfectly. I admit I took inspiration from others here.
I omitted the Smart Money, Institutional Investors and Public sections because I think it was just the first phase of the 3-phase cycle. We've only completed the Smart Money investors cycle/section and we're entering the Institutional Investors cycle/section.
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According to my other idea, everything is working out nicely...
Historically we've always had a retracement after a run to the top, it's easy to see the exhaustion of the market after every run, yet some people still think that the correction was supposed to happen with a sudden crash. The truth is there's not enough momentum to push it further this time around. People got so used to Bitcoin racing that they are counting on a constant run without any breaks.
AdrianZen
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@AdrianZieniewicz, We may get a double top at best and this is when I finally made exit.
Folder5
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@AdrianZieniewicz, CME announced date, this market moves with news and greed. We will most likely see more upside.
AdrianZen
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@rolandcura, True but the futures are derivatives and anyone with enough cash can manipulate this market.
However seeing the price still grow I'm rubbing my eyes and can't believe ;].
UnknownUnicorn1334902
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Media attention is something new! I think we may be see some new parabolic moves after correction :P
Flyingru
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lol, nice ))
darobsta
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Hi, Does this fit in log scale? I am thinking it wouldn't for this time period. Probably would for the rise from 8k! And would fit better on a larger time frame. I might just be hoping that your Despair doesn't take us back to 4k! :-/
I think we're still in Awareness Phase, just transitioning into Mania Phase perhaps as Mainstream Media attention is still relatively new. I am predicting that Enthusiasm will get us to 40-80k in 2018. Greed and Delusion may get us from 100-250k by mid 2019. Then a rapid burst to New Paradigm at 400-500k before the big sell off. Actually, if we continue 2017's % gains, that could all happen in 2018.
AdrianZen
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@darobsta, All the bubble charts I've seen were done in a linear scale. I understand that Bitcoin is climbing fast and putting it on a log scale makes it look less crazy and we can even make our way out of this territory and keep exponential growth but....