Most would agree that cryptocurrency is experiencing a significant correction, if not in the middle of a bear market. Zooming out, and taking the long view, what appreciation can we reasonably expect bitcoin to have?
The blue trend line is the most important part of this chart. It assumes an annual return of 250% based on the trend set from August 2015 to April 2017. After that, bitcoin began a new trend resulting in gains at a pace of 1000% annually until the end of 2017. In order to get back on track to the 250% return line, BTC prices will need to reach some painfully low levels. The most optimistic curve appears to me to be the least likely.
The blue trend line is the most important part of this chart. It assumes an annual return of 250% based on the trend set from August 2015 to April 2017. After that, bitcoin began a new trend resulting in gains at a pace of 1000% annually until the end of 2017. In order to get back on track to the 250% return line, BTC prices will need to reach some painfully low levels. The most optimistic curve appears to me to be the least likely.
Comment:
Wrong. It was the 2850 curve that ended up being closer to reality