Take the bottom price for the current price cycle, then multiply it by 500 to workout the top price in 2 cycles time, give or take a few percentage points.
Just a bit of fun but after putting the data into excel ans assuming liner growth of BTC we arrive at the below formula which implies that we will reach $100k / BTC in May of 2020.. right in time for the next halvening.
y = 1.5492e0.0031x
R² = 0.8083
Sounds crazy but it always does with bitcoin doesnt it.
Ive had the luxury of being away on vacation and having had time to think about this and concluded that this is hugely complex in its analysis. This analysis is with reference to my very long term trend analysis tagged.
I will state that im not a coder or BC expert but have a thorough understanding of economics so please excuse any BC misunderstanding in the...
(Updated For BraveNewCoin Liquid Index as requested to show this trend actually dates all the way back to 2011 and earlier!)
This chart illustrates long term extrapolation of the log chart trend for Bitcoin , with key Arc trends which could hold a clue to the near term future and longer term trend.
In Summary there has been 4 periods of 'mean' bullish growth /...
The bears could be expected to drag the price of Bitcoin back to the levels around $200 a coin once wave (V) ends, representing a 90% selloff from current levels. Impossible?
Can anyone who understands this better than I do please comment on my fib extension? I have no idea what I'm doing or what I'm supposed to see here :-)
2012 $1-$100
This was 2012 from $1-10, $10-50, $50-100. Then downtend.
2013 $100-$1000
This was 2013 downtrend from $100+ to $60. Then from $60-120, $120-200, $50-1100.
2016 $200-$10,000+?
This was the 2014 bear market from $1000+ to $200. Then from $200-1000, $1000-2000. Here's the picture now. We either go back into yellow channel or create steep red channel....
Bitcoin Liquid Index (BLX) calculates the average BTC/USD price in one unique chart. It contains a reliable fair price for Bitcoin based on the majority of trusted real world trading activity at the following exchanges: Bitfinex, Bitstamp, Gemini, BTCC, BTC-e, Coinbase, itBit, OKcoin International, Kraken, Coinsetter, and MtGox. (Ref.: bravenewcoin.com )
So,...
1) There is bearish RSI Divergence that seems ready to be broken. On a longer time perspective RSI is trending up (Red line)
2) Price closed above the channel but closed inside the pitchfork on this occassion www.tradingview.com
3) From the Dec-Jan High-Bottom, the Fib extension first hit 1.272 and pulled back to 0.382 and now we are spot on 1.618.
4) The 150 D...
