There's No Way BTC Keeps This Up : e^x
I own BTC. I like BTC. I want the price to go to the moon as much as the rest of us. But looking at the past couple of weeks, looking at today, I can't help but feel this is probably bad. One friend speculated it could be hedge fund pump'n'dump, and whether that's the case, I have no idea.
What I do know is that the line of best fit is ex, and that's not normal. If that graph keeps going the way it's going, either BTC's market cap will surpass the GDP of Earth by the end of the week, or else it'll have to head backwards in time and make a circle. Frankly, I don't like our chances on either.
The only possible prediction, then, is that we'll see a bit of a correction. It could be just a bit nasty, or it could be very very nasty indeed. Who's to say?
But that's alright. We've been through some nasty corrections before, so we'll hodl our imaginary coins, fasten our safety harnesses, head over the next hump on the euthanasia coaster like good little cryptofaces.
This is a chart you don't see enough. This is where the magic happens.
In 16 days, when the hash-monkeys get slapped with a difficulty hike up Mt. Everest, and we all go for a ride, I think we can count on that bounce to help us out of whatever madness is going on by then.
If we make it through 16 days, we'll be clear of the worst of it.
Good luck, my little steemie neighbors.
I am inclined to agree with you healthy corrections are essential for bitcoin to strive and not be perceived as a bubble .I think January through March we see a 20- 40 % correction which is extremely healthy for crypto currencies as a whole .