I read several articles suggesting that Bitcoin price are following logarithm trends. Inspired by those articles I decided to look at bitcoin price chart at bitinfocharts.
I saw some interesting patterns and decided to share my observations with the community for their expert comments.
From the chart my observations from past trend are as follows:
- Downtrend magnitude can be 5-10 times
- Uptrend magnitude can be 100-500 times
- Downtrend period tends to double from one cycle to another i.e first time 6 months and second time 12 months
- Upward period tends to increase by 12 months from one cycle to another i.e first time 24 months and second time 36 months
Based on above observations following can be predicted:
- The ongoing downtrend can continue till Dec'19 and drop till 2000.
- Six months later (sometime in June'20) block reward will be halved which will reduce BTC supply. Therefore, traders/investors will start building their positions from Dec'19 onwards to benefit from potential price appreciation due to reduced supply
- So Dec'19 onward -the uptrend is exp
Keep steeming.
Game timeeeee!!
Great prediction and we hope so
Let’s see. Seems logical
Haha 200 000 that would awesome. 2000 I hope not 3000 ok for me.
Posted using Partiko Android
For 200K time frame is also pretty long i.e by end of 2023. Anyway this is how chart suggests.
nice post
Maybe to go down almost 3200. Hope within a short time increase Bitcoin price. Thanks for this good article.
anything is possible in financial world but chart readings are done to make some guestimates.
lets see.....butanyways thanks nice article.....
thank you. much appreciated.
Looks like wishful thinking!
Yes at times we are biased while interpreting data. So could be.
Great article. I can is STEEM going to 0.05 usd and eventually swinging to 10 usd.
very likely. And if our investment is already down to dirt then no point taking it out but to play the game.
Agreed.
You got a 48.44% upvote from @emperorofnaps courtesy of @prameshtyagi!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
You got a 34.67% upvote from @redlambo courtesy of @prameshtyagi! Make sure to use tag #redlambo to be considered for the curation post!
Great post!
Thanks for tasting the eden!
This post has received a $35.06 % upvote from @siditech thanks to: @prameshtyagi.
Here's a banana!
You have been defended with a 32.13% upvote!
I was summoned by @prameshtyagi.
This post has received a 34.2 % upvote from @boomerang.
Congratulations @prameshtyagi!
Your post was mentioned in the Steem Hit Parade in the following category:
Congratulations, your post received 36.77% up vote form @spydo courtesy of @prameshtyagi! I hope, my gratitude will help you getting more visibility.
You can also earn by making delegation. Click here to delegate to @spydo and earn 95% daily reward payout! Follow this link to know more about delegation benefits.
This post has received a 50.87% upvote from @lovejuice thanks to @prameshtyagi. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.
You got a 36.94% upvote from @upmewhale courtesy of @prameshtyagi!
Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!
You got a 40.00% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!
You got a 34.36% upvote from @oceanwhale courtesy of @prameshtyagi! Earn 100% earning payout by delegating SP to @oceanwhale. Visit www.OceanWhaleBot.com for details!