BTC Log scale - 5k doesn't look to far away
Seems to be a general trend based off the log scale.
We are currently above the trend, but that doesn't mean we can't keep going to hit the 5k mark. In comparison to the previous breakout from 2013-2014, BTC price is barley over the trend channel.
Today the trend line is at $1,300. But I think it is extremely unlikely to hit this level. If there is a drop in price, it will probably take some time to come back to the trend, and for any additional time, the log trend will have a higher price level. By Jan 1st 2018, the price of the log trend will have risen to about $1,800 - 1,850.
We are currently above the trend, but that doesn't mean we can't keep going to hit the 5k mark. In comparison to the previous breakout from 2013-2014, BTC price is barley over the trend channel.
Today the trend line is at $1,300. But I think it is extremely unlikely to hit this level. If there is a drop in price, it will probably take some time to come back to the trend, and for any additional time, the log trend will have a higher price level. By Jan 1st 2018, the price of the log trend will have risen to about $1,800 - 1,850.
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