Given the log growth curve, it was inevitable that the multi-year trendline stretching back to 2012 had to at some point be broken. Now that it has been convincingly crossed, the log curve itself starts to look like a structure of support... as opposed to merely being a mean line with which to average out prices.
It became clear, earlier in the course of the correction, that the price had to come back to the long term trend. The 'reverse parabola' had been serving that function well since March, and yet for one reason or another, this model severely and suddenly broke down to today's level. Yet still, price looks to be coming back to the curve... now sooner rather than later.
With the log growth curve in mind, and considering that the 'reverse parabola' was in the process of bringing the price back to it, the break of that reverse parabola should not in any way be thought catastrophic. The break we have seen was only an event on the medium term time-frame, and it is the longer term time frame, to which the log growth curve belongs , that is the true object of concern for the investor. Only if the log growth curve broke, would the investor in Bitcoin begin to question their investment. And the investor hedges anyway.
It became clear, earlier in the course of the correction, that the price had to come back to the long term trend. The 'reverse parabola' had been serving that function well since March, and yet for one reason or another, this model severely and suddenly broke down to today's level. Yet still, price looks to be coming back to the curve... now sooner rather than later.
With the log growth curve in mind, and considering that the 'reverse parabola' was in the process of bringing the price back to it, the break of that reverse parabola should not in any way be thought catastrophic. The break we have seen was only an event on the medium term time-frame, and it is the longer term time frame, to which the log growth curve belongs , that is the true object of concern for the investor. Only if the log growth curve broke, would the investor in Bitcoin begin to question their investment. And the investor hedges anyway.