I'm horrible at technical analysis but the fundamentals of bitcoin are something I'm very familiar with.
Like rats on a Caribbean Island Bitcoin will experience a hyperbolic s-curve that levels off once it:
1 reaches global forex market saturation (1-10%)
2 approaches 21M limit
Along the way global economic events will create massive bubbles as collapsing economies convert fiat into cryto (presumably BTC).
As the average price of BTC gets higher, and the collapsing economy's size get biggers, FOMO will make theses bubbles bigger and bigger as well (Red triangles). This is good news though, more opportunity for profit ;D
When the S-curve starts to level off we might see something like this https://elenastreuding.files.wordpress.com/2010/11/j-curve.gif
or this
https://www.google.com/search?q=population+s+curve&rlz=1C1AVNG_enUS676US676&espv=2&biw=1920&bih=1014&source=lnms&tbm=isch&sa=X&ved=0ahUKEwijrr_c6erRAhUOzGMKHYVTCsAQ_AUIBigB#imgrc=KOC5z9xscRo9WM%3A
Its gonna be a wild ride to the top and I hope everyone makes some good money; don't forget to take profit!
-Goonch
Further Reading: https://medium.com/@mcasey0827/speculative-bitcoin-adoption-price-theory-2eed48ecf7da#.slb4gv7uv
PS - I'm mostly ignoring the first major bubble because of MTGOX shenanigans
Like rats on a Caribbean Island Bitcoin will experience a hyperbolic s-curve that levels off once it:
1 reaches global forex market saturation (1-10%)
2 approaches 21M limit
Along the way global economic events will create massive bubbles as collapsing economies convert fiat into cryto (presumably BTC).
As the average price of BTC gets higher, and the collapsing economy's size get biggers, FOMO will make theses bubbles bigger and bigger as well (Red triangles). This is good news though, more opportunity for profit ;D
When the S-curve starts to level off we might see something like this https://elenastreuding.files.wordpress.com/2010/11/j-curve.gif
or this
https://www.google.com/search?q=population+s+curve&rlz=1C1AVNG_enUS676US676&espv=2&biw=1920&bih=1014&source=lnms&tbm=isch&sa=X&ved=0ahUKEwijrr_c6erRAhUOzGMKHYVTCsAQ_AUIBigB#imgrc=KOC5z9xscRo9WM%3A
Its gonna be a wild ride to the top and I hope everyone makes some good money; don't forget to take profit!
-Goonch
Further Reading: https://medium.com/@mcasey0827/speculative-bitcoin-adoption-price-theory-2eed48ecf7da#.slb4gv7uv
PS - I'm mostly ignoring the first major bubble because of MTGOX shenanigans
Komen:
Still in the "channel"
Komen:
Wow, nice call here, bounced right off the ceiling.
Komen:
Komen:
Komen:
Komen:
Getting close to the top here...
Komen:
Apparently I stumbled upon a lower trendline. Very cool to see how bitcoin has surpassed my expectations.