Everyone is on vacation while we reached -0.5 Log from the S.reeds trendline
It's already 30 weeks after last ATH (last one ,,consolidation period'' took 27 weeks)
If market would repeat itself identically we would need one more high volume sell-of to trigger run-up, if I made right assumptions?
Shameless repost of my new research, originally in the Trendline thread:
I just updated my personal sheet tracking these things. The parameters of that one:
- flat price 0.005 assumed until Mt.Gox opens
- for 7/2010-2012, Mt.Gox prices used
- for 2013, three exchanges
- for 2014, Bitstamp only
- daily VWAP
- first day 2009-1-3, the first day of Bitcoin; last day 2014-7-9, the 2014th day of Bitcoin
The exponential trendline for this time:
USD/BTC = exp(-2.869800 + 0.003012 * D), D being the number of days
R^2 = 0.934183
The trendline is at $1583.
I put this info in Excel just to take a look at what the trendline gives for some future dates... lets just say next year looks amazing.
2016 just looks like a dream world... but the fact that it could be reality blows my mind. I wish I had known about Bitcoin earlier, but damn am I happy I found it when I did.