At first I thought he was crazy assuming BTC could hit 500K by 2020, let alone stake his member on it. Then he doubled down and called for a MILLION by 2020.
Recent movement of 50% gains in a week from 10K to over 15K seems like a curve of unsustainability. BUT if you look at the logarithmic scale chart and go back to 2012 you see a trend line formed way back in the 2012 to 2013 era shows we are just now coming back to that trend line that seemed like a pie in the sky moonshot way back when Tone Vays first drew it. My understanding is he never predicted that it would follow that line or that he would expect it to, yet here it is. ed supp If after being two years above the line and now three years below it we are just now going to enter a period of 2-3 years above theline then 1 Million BTC is certainly possible in 2020.
Again, this is DEFINITELY NOT a prediction nor to be construed as trading advice. Anything can happen at these levels, we never test support at $5,000 and $7500, two very significant ceilings of resistance, so always a possibility we are going back to those levels. But with continued mass adoption and about 1% of the population even knowing about this coin there is massive amounts of money yet to come into the market.
What about a revisit to 1350 level? It also never got retested right?
StuddMuffin
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@erikjanssen, We haven't retested anything.
CryptoJihadi
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@erikjanssen, Tone has brought that up numerous times. I have mentioned to him, but never received a reply, that BTC did test it three times on a 4 hour chart back in May 24/25 dates. Hit $1300, $1200 and $1100 on three different candles. It's was only on Bittrex that it did that, so not sure if that counts. But it was a dive after hitting about $2500 so a significant test.
Regardless if that qualifies or not, Tone feels a lot better about it now that we've gone well above $5,000, and corrected twice. Now we never tested the $5,000 level since after hitting $7800 we only went down to $5400, which was a strange level to test. So who knows if we have to go back to that level.