Updated longterm BTC chart: The road to 1 million.
I am a BTC bull, but I see far too many overly optimistic price projections on tradingview.
They seem to draw an exponential channel, instead of the current one, that is curved.
While of course it can be that BTC goes out of the current channel, and bursts through the upper resistance, thus reverting back to its original exponential trend,
I like to be more conservative. Because as of now, there is still no reason to believe that BTC will do so, only because it has pumped now already 6 months earlier than 4 years ago.
This could just mean that we also reach the peak 6 months earlier.
The fundamental price drivers will remain the halvings and mainstream adoption.
We can also clearly see that the factors between the subsequent peaks is diminishing every time.
From x38 to x16 and now probably to around x6 and so on.
It cannot just continue to do the same increases again and again, then we would have prices of 100 million USD by 2025 or some insane stuff like that.
That is not very scientific but sensationalist, and we should remain realistic here, even if that means being more conservative. Conservative with 1.3 million in 2030 LOL.
Try telling that someone in the stockmarket hehehe!
Anyways, there is indeed the chance that BTC leaves this channel and creates a faster rising one, but the future datapoints are not here yet, so we must use
the past points for extrapolation.
But no matter what happens, I am convinced that BTC mainstream adoption WILL happen. It's not an "if" question, but a "when" question.
They seem to draw an exponential channel, instead of the current one, that is curved.
While of course it can be that BTC goes out of the current channel, and bursts through the upper resistance, thus reverting back to its original exponential trend,
I like to be more conservative. Because as of now, there is still no reason to believe that BTC will do so, only because it has pumped now already 6 months earlier than 4 years ago.
This could just mean that we also reach the peak 6 months earlier.
The fundamental price drivers will remain the halvings and mainstream adoption.
We can also clearly see that the factors between the subsequent peaks is diminishing every time.
From x38 to x16 and now probably to around x6 and so on.
It cannot just continue to do the same increases again and again, then we would have prices of 100 million USD by 2025 or some insane stuff like that.
That is not very scientific but sensationalist, and we should remain realistic here, even if that means being more conservative. Conservative with 1.3 million in 2030 LOL.
Try telling that someone in the stockmarket hehehe!
Anyways, there is indeed the chance that BTC leaves this channel and creates a faster rising one, but the future datapoints are not here yet, so we must use
the past points for extrapolation.
But no matter what happens, I am convinced that BTC mainstream adoption WILL happen. It's not an "if" question, but a "when" question.
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Update: I don't think that this longterm chart is valid any more.
Bitcoin should have hit at least 100k in the last cycle, it didn't, which imho implies that there is a new dynamic at work behind BTC's longterm growth.
Thus, I think we cannot take the longterm logarithmic growth model for granted any more. It might still happen, but the odds have become less likely.
Bitcoin should have hit at least 100k in the last cycle, it didn't, which imho implies that there is a new dynamic at work behind BTC's longterm growth.
Thus, I think we cannot take the longterm logarithmic growth model for granted any more. It might still happen, but the odds have become less likely.
But then again, it might also surprise us, and indeed reach ATH in July. It all depends now on the growth dynamics of the next months.