Is Bitcoin Long-term Growth Sustainable at Current Trend?
Bitcoin is following a very long term trend that would place the price by June 2018 as high as $60,000 USD, and as low as $9,000 USD.
The low end of this trend seems very sustainable, and in my opinion would be extremely conservative, even deliberate and sloppy FUD to suggest Bitcoin would drop that low in 6 months time.
But on the high end of the current long term trend, It is not so easy to say that Bitcoin can sustain that kind of growth forever. The chart I use has "Log" checked on, because it shows proportional growth. It makes predicting trends easier, and using Logarithm allows me to show you things better.
Look at this chart below and see what I mean by long term trend with the black dashed lines. I am assuming that the price of Bitcoin will not break that upper trend line, and even still it seems crazy that Bitcoin could even hold the high side of that trend for the long term. If Bitcoin were to break the upper black dashed line, my head would spin. But in the short term I just don't know. There is so much confirmation bias in these kind of emotional markets, that people look for data that projects where they want to see the price going, not were it should go. At the end of the day, the price goes where the whales want it to, and if their lips are sealed then the rest of us are just guessing by using trends, math and historical data.
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The Human comes to life encased in a shell of protection, but to grow we must crack and then finally break that shell, having faith that as we grow we will not need the protection we once felt safe inside.
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