Bitcoin shatters all moderate price predictions on tradingview
So I saw a lot of predictions claiming 3500, 3700 or 4000 as the top.
Either those people are trolls, or they fail to realize that bitcoin growth spurts are NON-LINEAR !
Meaning that after each havling, a hyper-exponential growth sets in, leading to a succession of insane rallies.
People then search for reasons, conspiracy theories come up daily in bitcoin land, whereas the reason why bitcoin
is seeing such huge price increases is so simple: IT IS STILL THE HALVING EFFECT !
Growing worldwide demand + half the supply of before July 2016 => Price explosion
And this comes hyper-exponentially.
So I am not really surprised by these figures, and I think it will top around 20K in february 2018.
Sure I am also guessing. We won´t get a 118-fold increase like in 2013, bitcoin had a much lower marketcap back then.
So conservatively speakling, I took "only" a 37-fold increase, about 1/3 of the 2013 increase.
The tops are getting further and further apart, from 500 to 780 is not even a factor of 2, same from 780 to 1320.
But then from 1320 to 3000, about 2,5 fold! This means that the tops are getting further apart, meaning that the next top
will certainly not be "only" 5K.
How this will play out, nobody knows, but one thing is certain: Bitcoin will again surprise many people :)
Either those people are trolls, or they fail to realize that bitcoin growth spurts are NON-LINEAR !
Meaning that after each havling, a hyper-exponential growth sets in, leading to a succession of insane rallies.
People then search for reasons, conspiracy theories come up daily in bitcoin land, whereas the reason why bitcoin
is seeing such huge price increases is so simple: IT IS STILL THE HALVING EFFECT !
Growing worldwide demand + half the supply of before July 2016 => Price explosion
And this comes hyper-exponentially.
So I am not really surprised by these figures, and I think it will top around 20K in february 2018.
Sure I am also guessing. We won´t get a 118-fold increase like in 2013, bitcoin had a much lower marketcap back then.
So conservatively speakling, I took "only" a 37-fold increase, about 1/3 of the 2013 increase.
The tops are getting further and further apart, from 500 to 780 is not even a factor of 2, same from 780 to 1320.
But then from 1320 to 3000, about 2,5 fold! This means that the tops are getting further apart, meaning that the next top
will certainly not be "only" 5K.
How this will play out, nobody knows, but one thing is certain: Bitcoin will again surprise many people :)
After this correction, I would say that the bullish picture is intact. It briefly touched the MA20 at 2980, but did not go lower, which is bullish IMHO.
That is the picture I see at the moment:
ibb.co/jUiaUQ