Anyone looking at the price history of bitcoin will know that we were in fact in a major bubble for some time. Everything about the chart cries bubble - we went up too high too fast. That being said this past few months of price stabilization around the mid $400s proves that we are in line for slow stable growth. I'd say slow steady growth and close to 1k by the end of the year. Coindesk had a good technical analysis of bitcoin although I'm not a huge believer in technical analysis when it comes to btc - the market is too sporadic. http://www.coindesk.com/bitcoins-falling-volume-herald-bull-run/
How are you a senior member?
Have you ever, even once, in the history of bitcoin seen slow linear growth?
I sure haven't.
Bitcoin has only shown 4 types of movement and in a very predictable pattern:
1) double exponential growth (very short rises in price in which the price goes up by 1 or 2 orders of magnitude in a month or less)
2) fast decline right after the peak (only happens right after a peak and often also after a second smaller peak, last for a couple of hours mostly, sometimes days, but never much longer)
3) horizontal price movement (often several months of low volatility and not much action, this is the normal behavior of bitcoin in between waves of growth)
4) steady linear decline (this is often seen the first month or two after growth, and often a couple of weeks or months before the next growth. Type 3 and 4 often follow each other up in a sequence and both usually last for months.
We're seeing it right now....That predictable pattern is slowly changing.
eh no it's not, it's still the same pattern, what makes you believe it changed?
