EDIT: Problem with price channel for some reason? will try to reupload :s
Price channel (with log price scale) proposed, Bubble breaks up and out, for 121 days (more or less a quarter). Stays in channel for 121 days again (bar silk road freak out, not really a valid data point) Breaks up and out again, will this be another 121 day period/bubble? Vertical lines every 1.5 Months Approx., Significant points on their times:
1st line : Bottom of channel
2nd line : Breakout
3rd line : Peak of April bubble
5th line : July minimum
6th line : Roughly when growth from july min stops (weak correlation)
7th line : When Bitcoin goes back on rise
For the short term, I think bubble will form, due to timings, media coverage ect... For long term, the constant growth shows no sign of stopping, especially due to the deflationary nature of Bitcoin. By march, I do not expect price to go below the channel, leaving a minimum of $500.
Price channel (with log price scale) proposed, Bubble breaks up and out, for 121 days (more or less a quarter). Stays in channel for 121 days again (bar silk road freak out, not really a valid data point) Breaks up and out again, will this be another 121 day period/bubble? Vertical lines every 1.5 Months Approx., Significant points on their times:
1st line : Bottom of channel
2nd line : Breakout
3rd line : Peak of April bubble
5th line : July minimum
6th line : Roughly when growth from july min stops (weak correlation)
7th line : When Bitcoin goes back on rise
For the short term, I think bubble will form, due to timings, media coverage ect... For long term, the constant growth shows no sign of stopping, especially due to the deflationary nature of Bitcoin. By march, I do not expect price to go below the channel, leaving a minimum of $500.