KellyBacile

Weekly Bitcoin chart: a long way to go

BITSTAMP:BTCUSD   比特币/美元
517 0 6
Most analyses that I've seen lately have been fairly short term and optimistic. I have focused on the opposite. For years, Bitcoin             has been caught in an ever growing cycle of bull and bear markets, bubbles and consolidations, peaks and troughs. Extrapolating this pattern hints at the longer term future of the coin. I believe that Bitcoin             will bounce at 1750. I do not know whether it will continue through its all-time high of ~3000, or fall even lower. If it runs higher, I expect it to stop at an even number, probably 4000 or 5000. It is difficult to know when and where Bitcoin             will be when the next bubble arrives, because the last three runs have not scaled the same. I estimate that it will reach 9000-12000 during the early 2020's. All of this is a long way off, and my estimates may be very far off, but I strongly believe that it will continue the pattern that it has followed for years.
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