Many time past since then. And log scaled trends grew a lot.
You can see some historical trends here. The lowest defines "Normal growth" and price is currently inside it. The upper ones defines "mid and super grow". Once price enters them it will start drammatical growth due deflational Bitcoin nature.
Corelations I see between 2013 and current bubbles marked by circles. So taking into account that correlations I announce drammatical price rise from approximately $40,000 USD in quick and pessimistic version to more than $100,000 USD and prolonged optimistic version.
Deadline for this action is till 2019.
Although sentiment is low in crypto world right now (search Thomas Lee's bitcoin misery index), the only people who are really hurting are the late comers that bought in any time less than 4 short months ago. Take a moment and really think about how not long ago that was. Those are the people who are freaking out.
The ebb and flow we are witnessing is absolutely healthy for the market and does a great job at flushing out those greedy, get-rich-quick types that didn't take the time to learn the nuts and bolts of how blockchain/bitcoin works and why it is absolutely revolutionary and deserving of the logarithmic axis this chart was set to.
Bitcoin is cancer to the legacy banking and value storage system. Cancers start with a single cell and grow exponentially, sapping all energy from their host until it collapses, slowly at first and then all at once. Sometimes shots of chemotherapy, radiation or frank overgrowth (the most recent manic-bubble) can lead to sharp pullbacks only to set the stage for consolidation, strengthening of underlying architecture and then more spectacular future growth. Each new person that cognitively buys in to the idea of bitcoin and cryptocurrency then becomes its biggest advocate and "infects/transforms" several more individuals, the foundation of exponential growth.
There are many positives on the horizon: lightning network is now available for use on the mainnet, coinbase and other exchanges are courting big money in the form of custodial services for institutional investors, US regulators (Giancarlo et al) have taken a non-aggressive stance towards bitcoin, and most people around the world have now at least heard about what bitcoin is, even if they were given an inaccurate representation. The pieces are in place for another spike.
There will surely be another huge drawdown when the next mania cycle ends. No one, although MasterLuc has done an astounding job so far, can predict exactly when that will be, you should plan to start selling small bits on the next ride up once we achieve new all time highs as a way to accumulate more bitcoin when it settles back down to just above the previous mania's all time high. Look at it as reserving more of your piece of real estate on the immutable, scarce ledger that might be used for a ever growing proportion of first, global wealth storage and eventually, economic transaction and means of exchange (i.e., reserve currency status).
I did a rough google translation of what he's written over the past couple of weeks, in posts and comments, and it appears he feels this latest pullback is normal and that it will continue to inch up and be choppy for probably months, but he's sticking with his forecast of a consolidation around $15-$20K and then a moon shot this fall up into the $40-$100k range he's listed here.
He or anyone else is free to correct me if I got the translation wrong.
I found his tweet, just look up Masterluc. But I am not sure he is real Masterluc. Do you have any info?
Proceed with caution.