Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Not really, we will go to ATH (around $1200) with no real resistance and then we go exponential for a relatively short time before the crash - like it always happened. I've witnessed this shit three times already 
Probably the big rally will not be as exponential and short-lived as in Dec 2013, Apr. 2013 and June 2011 (when price started doubling every week) because the coin is getting mature and the market getting bigger, much more money is needed for the price to double - but its still a very small market which is very prone to big rallies and big crashes.
The question is: is the market mature and big enough to sustain not only rapid pumping but longer periods with bitcoin price over$800?Probably the big rally will not be as exponential and short-lived as in Dec 2013, Apr. 2013 and June 2011 (when price started doubling every week) because the coin is getting mature and the market getting bigger, much more money is needed for the price to double - but its still a very small market which is very prone to big rallies and big crashes.
I don't think we are ready yet, not in 2016.
Why not, if I may ask.
Agree, why not?
This is the kind of assertion that deserves an explanation?
If you look at Bitcoin's price history, you will see that the late 2013 rise to the ATH from the $100s to $1200, took place over about 7 weeks.
The November 2015 rise from $240 to $502 took place over 4-5 weeks
The May 2016 rise from $450 to $778 took place over 4 weeks.
This current rise from $550 to $780 took place over 17 weeks (about 4 months)
But if you zoom out further, you will see the current rise from $450 to $780 took place over 7 months and the rise from $240 to $780 played out over 15 months.
In other words, we have gotten to our current price with a whole hell-of-a lot more price support over a longer period of time, which would substantiate greater possibilities that the price could be supported in the current range or even a higher range and even that we may have a considerable spike upwards before coming back down into a kind of "sustainable" range that may well rest above our current price point.