It doesn't make much sense for the price to rise linearly. It's just as "hard" for a price to go from $1 to $2 as it is for it to go from $1000 to $2000--it's the same amount of growth. If you invest $100 when the price goes from $1 to $2, or if you invest $100 when the price goes from $1000 to $2000, you end up both times with $200.
But it did for several years whether or not it makes sense. The exponential growth I contend is based on the possibility of ATMs being installed without issues of currency exchange and regulation. The big start of the growth was widely reported people in Cyprus, Spain, Greece, Italy, and Argentina looking for a place to put money. I'm sure the gold burst pushed more in. All this equals a speculation bubble or in the words of Alan Greenspan irrational exhuberance. The point isn't that we will continue to see linear growth forever. The point is there has yet to be tangible evidence to me to see a value over $30 so far. If people move money elsewhere or panic sell I fail to see why $30 would be unreasonable. Although with the new speculators my value still remains at $30-$50 until I see something real happen. If someone has something tangible, I'm always here reading and absorbing it all in.
I'm not a bear saying it is going down soon to $30. Hell gold at $1800 I predicted would get to $1200. Look at how long that has taken. I'm thinking long term and realistically. Not trying to be some bearish Fud spreader here.