This was a fascinating chart and I checked out the numbers for
BTC since 1/2011. Was shocked to see that this trend has continued for quite a while:
Google Spreadsheet with Monthly Lows Summary DataInteresting findings:
- 23 of 29 months since the beginning of 2011 have seen an increase in the monthly low price
- We are in the 16th consecutive month of an increased monthly low price.
- The average change from one monthly low price in this time period: +35.70%
Nice spreadsheet -even assuming the increase per month settles at only 10%/month, that would still see the price of BTC rise to around 160 USD in 6 months from now...
Thanks! I was surprised by a lot of the information. Seeing the percentage changes was pretty staggering.
Out of curiosity, I also took the average
decrease during the 4 consecutive months from 8/11 - 11/11 (-32%) and applied it to our current low of 88, just to test out a few months, and it showed a drop from:
June - 88
July - 60
August - 41
September - 28
October - 19
Honestly I don't see it dropping below 50 on even the worst of slides, but if we do experience a similar set of consecutive lows for the next 4 months it would put us at $18/
BTC - which is still even with February's low of this year!