Many TA traders are sticking to the Supermoon theory using log charts and trends.
One such chart is from the very popular masterluc presented here:
At this time, I disagree this is possible for BTC. As price advances the impact $1,000 makes on the chart lessens. Law of diminishing returns. Mass adoption would be the key to moving BTC when it's priced over 10k and while adoption is still very low BTC couldn't handle mass adoption in it's current state if it did arrive. The network would stall, fees would rise and the incentive to hold an asset which is struggling to function would disappear.
The more likely scenario is a return to sanity and months of price discovery. BTC must fix it's own self inflicted damages to scale and survive.
Near term bullish target: 8650. That's the best it will do before end of 2018.
One such chart is from the very popular masterluc presented here:
At this time, I disagree this is possible for BTC. As price advances the impact $1,000 makes on the chart lessens. Law of diminishing returns. Mass adoption would be the key to moving BTC when it's priced over 10k and while adoption is still very low BTC couldn't handle mass adoption in it's current state if it did arrive. The network would stall, fees would rise and the incentive to hold an asset which is struggling to function would disappear.
The more likely scenario is a return to sanity and months of price discovery. BTC must fix it's own self inflicted damages to scale and survive.
Near term bullish target: 8650. That's the best it will do before end of 2018.