I'm not the first one to do a Bitcoin logarithmic chart, but I still do it because I want people to see the bigger picture. Now, we know for a fact that the 2013 bubble was due to an insane amount of market manipulation with two Mt. Gox willy bots. These two bots purchased over 650,000 Bitcoins during this period.
www.theguardian.com/...-last-days-of-mt-gox
If all you had to go on was this chart and no dates, anybody with half a brain could guess when this market manipulation was going on. It breaks the overall log trend. So if we were to appeal to history only to analyze potential moves for Bitcoin in the future, one could say that we've reached the top side of the channel, and now we need to have a healthy retrace near the bottom of the channel before the next move up.
In other words, forget the fundamentals for a moment. It is not out of the question to see a dip to $1300 levels, retest the only ATH that has yet to be retested in a few years, and continue our bull market from there. The only other time an ATH hasn't been retested was August 2012, around the time the bot manipulation began.
Again, many better Bitcoin log charts have been posted here, but I think the more, the better so more people can get exposure to Bitcoin's long term price history.
www.theguardian.com/...-last-days-of-mt-gox
If all you had to go on was this chart and no dates, anybody with half a brain could guess when this market manipulation was going on. It breaks the overall log trend. So if we were to appeal to history only to analyze potential moves for Bitcoin in the future, one could say that we've reached the top side of the channel, and now we need to have a healthy retrace near the bottom of the channel before the next move up.
In other words, forget the fundamentals for a moment. It is not out of the question to see a dip to $1300 levels, retest the only ATH that has yet to be retested in a few years, and continue our bull market from there. The only other time an ATH hasn't been retested was August 2012, around the time the bot manipulation began.
Again, many better Bitcoin log charts have been posted here, but I think the more, the better so more people can get exposure to Bitcoin's long term price history.
코멘트:
Looks like we're going to major bubble levels again. $20,000 is very possible, 60,000 may be nearing the top if it walks in step with history.