What we have now is the adjustment to the reality that the adoption curve is really log-logistic as I have shown, thus rpietila's claim from his linear adoption projection chart that the price should be $900+ is likely incorrect.
My best way to convince you this is so, is to note that there is no way the universe would remove all competition to make it so easy for lazy investors to become so insanely rich. To become very wealthy requires active knowledge in developing and managing. The universe doesn't hand great sustained wealth to people who make one lucky decision. Rather (even the greatest of all time such as Jesse Livermore) speculators always end up back at 0 eventually.
Bitcoin is not going to $0 and it is going higher eventually. But the rate of price appreciation will not be "to the moon" although another speculative frenzy might make you believe that one more time (to your great demise because next time it will really crash hard because adoption will have drastically slowed and there will be other vastly superior competitors taking over the ecosystem).
Btw, I have looked into the eye of the future of crypto-currency and I have seen that Bitcoin is going to be wiped out. I have seen some new designs in the past few days that blew my mind.
You are going to be hit with an onslaught of very serious altcoins and not just my designs.
My best way to convince you this is so, is to note that there is no way the universe would remove all competition to make it so easy for lazy investors to become so insanely rich. To become very wealthy requires active knowledge in developing and managing. The universe doesn't hand great sustained wealth to people who make one lucky decision. Rather (even the greatest of all time such as Jesse Livermore) speculators always end up back at 0 eventually.
Bitcoin is not going to $0 and it is going higher eventually. But the rate of price appreciation will not be "to the moon" although another speculative frenzy might make you believe that one more time (to your great demise because next time it will really crash hard because adoption will have drastically slowed and there will be other vastly superior competitors taking over the ecosystem).
Btw, I have looked into the eye of the future of crypto-currency and I have seen that Bitcoin is going to be wiped out. I have seen some new designs in the past few days that blew my mind.
You are going to be hit with an onslaught of very serious altcoins and not just my designs.
I agree with the fact that we are probably not going to continue following the exponential trendline that Risto is using as a basis for his TA. The question is : how long will we have to remain under the trendline for the recognition that, although is was a good model for the first phase of bitcoin rise, it is not for the next phase that is starting.
Anyway one has to recognise that the past exponential trend line MUST be broken sooner or later. The questions is only if it is broken this year (which I believe), the year after that, or the next. What would be the price of BTC in April 2017 if we would stay on the trend line ?
