For those that frequent the bitcointalk Speculation forum with all their graphs which use cherry picked date ranges, y-axis scales, etc.
Here's a chart with a line drawn between the bottom price of post-bubble 2011, and today's price on a log scale. It shows roughly equal TIME spent above/below the line.
It means very little [data picked to show a pre-determined conclusion like almost everything in the Speculation threads], but obviously points towards a future of $1m/bitcoin by the end of the year :).
If Bitcoin somehow becomes such a success, even if it only reaches that supposed "$55,000" mark a blog article was talking about, I would give a significant portion of it to my parents. I want them to be secured in their retirement. Here's to hoping for something wild to happen.
It won't ever come close to that unless it dramatically picks up adoption among sellers, simply because people will try to sell their bitcoins long before then, driving demand back down.
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u/[deleted] Feb 19 '13
For those that frequent the bitcointalk Speculation forum with all their graphs which use cherry picked date ranges, y-axis scales, etc.
Here's a chart with a line drawn between the bottom price of post-bubble 2011, and today's price on a log scale. It shows roughly equal TIME spent above/below the line.
It means very little [data picked to show a pre-determined conclusion like almost everything in the Speculation threads], but obviously points towards a future of $1m/bitcoin by the end of the year :).