to put 950 and 10560 on the same line in a channel is way too stretchy....(the assumption is a continuous parabola), and also the CME introduction will open the door to massive shorting power from the "big boys" that may want "in"... I dont see how people cheer the CME event as bullish event... the only "good" thing about it is that it a) legitimizes the coin and b) it may provide some stability so MAYBE, MAYBE can be the start of GRADUALLY adapting it for mainstream financial transactions...
cursor stelakis
@stelakis, parabola? no, exponential. yes. it being exponential is the reason you can take the logarithm of the series and get a roughly linear view. and it being exponential isn't really all that special. all it really means is that it has a roughly constant rate of growth over time. that's all irrelevant, though. just an aside. and i don't really have any opinion on whether futures are positive or negative. i linked some literature that explores the effect of derivatives on the price of it's underlying, but the conclusion isn't really very... conclusive. like you mentioned, derivatives do attract those who can manipulate the price of the underlying, but that only implies it will affect the price, not whether it will bring it up or down. if i were to guess i'd say both; i.e it would increase volatility. i have no real idea, of course.
I don't know what to think about this projection really, I mean exept for the "futures going live" :)
cursor Monstar
@Monstar, it's just an interesting intersection-point between the top of the channel and the CME Futures going live. If it's going to act as a ceiling to hold price down or if it's a ceiling to be broken in a true paradigm-shift depends a lot on what you think about derivatives and their effects on their underlying. Derivatives do have a tendency to attract speculators who are in a position to manipulate the price of the underlying asset, so there's that.
Monstar cursor
@cursor, I see, thank you.
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