since I am a german I read also german chartanalytics.
gomode-trader.de is very good on stocks,currencies etcetera and they made an analysis of the Bitcoin -Price just at 11.18.2013:
http://www.godmode-trader.de/nachricht/bitcoins-zukunftswaehrung-oder-jahrhundertblase,a3294895.htmlEs findet also eine Rallybeschleunigung statt, welche den Preis der Bitcoins noch bis an die potenzielle Trendkanaloberkante bei ca. 2.400 - 2.600 $ ansteigen lassen könnte. Von dort aus wäre dann wieder eine Korrekturphase starten, welche im bullischsten Falle in nur wenigen Monate auf hohem Niveau vollzogen wird. Anschließend wäre eine weitere Rallybeschleunigung möglich. Kursgewinne bis 15.000 oder 100.000 $ klingen zum jetzigen Zeitpunkt utopisch, wären aber aus charttechnischer Sicht problemlos möglich und wären vom Umfang her nicht viel mehr als die erste Rallyphase von 2010 bis Mitte 2011.
For non german Readers I try to translate the most important conclusion (see quotation) from the Analysis.
A Rally acceleration is going on which could push up the Price up to the potential trendchannel top at about 2.400 to 2.600 Dollar.
From there could start a correction which might be finished in the bullish Version in a few month at an high Level.
After that another Rally acceleration is possible.
Prices up to 15.000 or 100.00 Dollar seem to be utopic at this time but from the chart-analytic Point of view they are possible without any Problems.
The amount would be not more than the first Rally from 2010 to mid 2011.
Sorry for my poor english.
If you look at the Chart you will see a very short time to reach the potential highs. Only about 3-6 or 8 months.
Very bullish.
Remember I said goodmode-trader.de is very good.
Let`s hope for us all.
Which poor english? The only mistake you made that I could find is "Version in a few month at an high Level.". It should be "a high level". Your english is better than most british/american people I speak. (p.s. i'm dutch).
That said my optimistic analysis is the following. (rough values)
Based om the recurring hypes and falls i've noticed the following. Every hype pushes the bitcoin to roughly double the previous hype and crashes to half that value. For example the last hype went to €270/$360 and this time to €650/$900) crashing back to about €330/$440. Plotting this into the future the next hype/bubble will go to €1300 (approx. $1800) and crash to €650/$900. Giving it 2 hypes per year we can hit the €10000/$14000 in two years.
Usability of bitcoin is increasing day by day reducing the risk of a crash to zero.
I do believe we will get near an equilibrium someday, my belief is it will be at the same level as a kilogram of bullion gold. Let's say €32000/$43000. I don't think $100000 will happen within 5 years.
