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Viewed on a log scale, it's clear that $650 is too high. But, it's not quite as outlandish as the linear plot implies. http://i.imgur.com/GOYWUMo.png http://i
by corysama 13y ago
Viewed on a log scale, it's clear that $650 is too high. But, it's not quite as outlandish as the linear plot implies. http://i.imgur.com/GOYWUMo.png http://i.imgur.com/GOYWUMo.png According to that armchair-financier line fitting, the trend is for the price to still be below $300. What's more interesting is the long term trend of 10X price increase every 12.5 months for the past 3+ years running. Disclaimer: past performance is not an indicator of anything.
- deleted 13y ago[deleted]
- ISL 13y agoIt's clear that such a slope is unsustainable in the long term. If bitcoin continues its growth, with a $5B market cap now, and a ~$100T world GDP, it's clear that there's, at most, another four orders of magnitude to go. And, given that perhaps a few thousand collectors are each willing to pay a few dollars to own most of the world's BTC, there's perhaps six orders of magnitude of room for the price to fall.
- a3voices 13y agoI agree it's unsustainable forever, but I see it as analogous to Facebook when its market cap. was only $6 billion or so.
- corysama 13y agoAgreed. Even if it doesn't die, it's going to S-curve at some point. The range between $1000-$10,000 is going to be interesting times. At that point, a lot of the early hobbyists are going to be holding minor life-changing amounts of potential money ($10Ks-$100Ks). Even with the forecast of continued exponential growth, it's will be the smart move for a lot of people to "take some off the table" and cash out a significant portion of whatever they've been hoarding.