The Bitcoin Rocket Has Launched

This post is for all the great Bitcoin Hodlers out there. Those who bought low and told their friends and colleagues to do the same, and maybe, just maybe got laughed at for buying something as useless as Bitcoin. “It’s a bubble!”, “It has no intrinsic value!”, “It’s dead!” and what not. We have heard it all. People doubted our sanity, wrote blog posts and news articles about how dead Bitcoin was.
It always came back. And I tell you what: it always will. Hodl is a substantial part of Bitcoin; it’s coded right into the protocol: there will ever only be 21 million BTC, and the reward per block is reduced every four years (next Halving will probably occur at some point in 2020 when Germany will become European Soccer Chanpion 😉 ). Price is already beyond good and evil, but it shows no signs of deceleration, let alone an end of the rally. To me, it looks like the really insane part is yet to come.

Now let’s have a look at the chart:

The current Bitcoin Bull Run in its stages: stage 5 entered.

The current Bitcoin Bull Run in its stages: stage 5 entered.

 

 

 

The bull run has passed four stages, so far, with each subsequent phase covering a larger part on the price axis than the previous one. Let me sum it up:

Phase 1:

Start: 2017-01-11: 889,41 USD
End: 2017-03-24: 920,00 USD
High: 2017-03-10: 1350,00 USD
Price range: 460,59 USD

Phase 2:

Start: 2017-03-24: 920,00 USD
End: 2017-07-16: 1830,00 USD
High: 2017-06-12: 2980 USD
Price range: 2060 USD

Phase 3:

Start: 2017-07-16: 1830,00 USD
End: 2017-09-14: 3210,00 USD
High: 2017-09-01: 4979,90 USD
Price range: 3149,90 USD

Phase 4:

Start: 2017-09-14: 3210,00 USD
End: 2017-11-12: 6218,00 USD
High: 2017-11-08: 7888,00 USD
Price range: 4678 USD

What’s visible on this chart is that the recent phases get somewhat shorter than the earlier ones, indicating the creation of an exponential curve on the long time chart. My guess is that we might get a new year’s dump (or somewhere around that time).
We’re on a good way of going parabolic, but my guess is that we’re not there, yet. If fundamentals won’t really change until the next correction (you cannot imagine how much I hope that it will again be a Roger Ver induced one. The last two corrections he and his BCH fellas caused were nice washouts you could safely buy back… I mean, honestly: Bitcoin Cash will replace Bitcoin – seriously? Naah), I will do the same I did during the past corrections: I will buy them back and… hodl.

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