All the way to test the ATH before 2017 ?
I really doubt that price can test new ATH before 2017 may be by end or in mid of 2017 price will be $1000+ or even may get new ATH price.
I tend to agree. Yet we might get some acceleration to well above $800 and then a pull back before ATHs to keep us on that slower trajectory.
Note we still haven't broken out above $750 yet on all exchanges.
One thing to keep in mind is that as mining is becoming more and more centralized/monopolized, then profits for miners are increasing (if for one reason because less marginal miners) thus have less need to sell (and they can't sell all, just the small portion to pay costs!). So it is in their interest to grow the perceived "wealth effect" exchange value of the economy, so they can extract more profits from mining.
Also they have more and more power to manipulate the price at will to profit on repeated bouts of shorting slamdowns.
Ultimately this centralization is going to kill Bitcoin, but for now it represents a stability of trend until that point that it is unsustainable.
I wildly speculate a chance that Bitcoin dies or is restructured by TPTB in the 2018 or so monetary reset (exact ETA is not precisely knowable), because if the elite shut down the financial system for many months, then miners can't exchange to fiat to pay their electricity bills. TPTB then have them by the proverbial balls.
Is Bitcoin doomed then by 2018 or so ?
next stop should be 789 (last bfx high) then moon
