Domchi
Long

Let's draw a line on a log scale graph

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
841 9 5
I've been intrigued by the Reddit post about the average 0.59% daily increase in price on log scale ( http://www.reddit.com/r/Bitcoin/comments/1q59k1/bitcoin_4yr_log_chart_and_future_trend_courtesty/ ), and tried to recreate it on TradingView chart. The price increase obviously can't continue following this graph forever, but I'm wondering how long it will. I also notice one other interesting thing here: BTC             price is above baseline only for the last two weeks. The Chinese bubble might still have quite a way to go to earn being called a bubble on a log scale.
Great chart!
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I was looking for the same thing but based on a youtube post."Why bitcoins growth is normal'
http://www.youtube.com/watch?v=qHUPPYzzZrI
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oops. that is -best data sets yet.
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Hey guys - here is the best chart of this type I have seen with the best sets yet. If you can figure out how to build it into TV, that would be cool.. http://iv.pl/images/82211820657513718314.png
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Domchi PRO AWatchingA
Hey, this is pretty good. A tiny bit steeper than my chart though, but mine is based on the one on Reddit with R^2=0.84, while yours is R^2=0.9147.
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Nice chart, thanks. Did you draw the line yourself or is it an actual average?
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I drew it as accurate as I could get it to connect dollar values and price trend, but it's not calculated average. It's pretty close to the line the guy from Reddit drew, and I think he did draw it based on calculated average at least for the trending period he mentions.
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PW Domchi
I see, thanks Domchi. Yes quite possible we have a a lot more headroom in this latest move above the trendline.
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This is how I see it. But I would think it unlikely we will ever again have the kind of massive bubble we saw in 2011 until the "final" BTC blow-off 304 years out.
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