After november's parabolic price explosion and a bearish december full of corrections, we are now trending upwards again in a channel which we already know from october. Since the Silk Road dip 3 months ago price rose by ~+2%/day on average. During that same period, difficulty and hash rate of the network also grew by ~+2%/day. Provided fundamentals don't change, this medium term adoption speed of 2%/day could well be sustainable for a few more weeks/months.Of course, everyone is hoping for a correction back to the longer term trendline of ~+0.7% daily growth, but I wouldn't hold my breath for that.
I can see this make a new ATH within the next 2 weeks and remain mostly long, but I will keep 1/3rd in fiat to catch the occasional weekend sell off or the like. A daily close below that dashed 2% trendline might change my mind tho.
I can see this make a new ATH within the next 2 weeks and remain mostly long, but I will keep 1/3rd in fiat to catch the occasional weekend sell off or the like. A daily close below that dashed 2% trendline might change my mind tho.