{"id":395224,"date":"2019-09-05T18:00:57","date_gmt":"2019-09-05T18:00:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=395224"},"modified":"2019-09-05T14:46:20","modified_gmt":"2019-09-05T14:46:20","slug":"power-law-tracking-bitcoins-growth-to-100k-and-beyond","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/power-law-tracking-bitcoins-growth-to-100k-and-beyond\/","title":{"rendered":"Power Law: Tracking Bitcoin\u2019s Growth to $100K and Beyond"},"content":{"rendered":"

According to polls<\/a>, predictions<\/a>, and commonly seen comments from the cryptocurrency community, most are certain that one day Bitcoin<\/a> will reach prices of $100K to as much as one million USD. For most, it\u2019s not a matter of if, but when.<\/span><\/p>\n

A new study using a long-term power-law corridor of growth may help provide clues to when Bitcoin price will reach such incredible values or at the very least lock down timeframes when these values are most likely to be reached.<\/span><\/p>\n

Bitcoin Power Law Growth Corridor Predicts When Bitcoin Will Reach $100K, $1M<\/h2>\n

Technical analysis often relies on charting channels by drawing a top and bottom parallel trend line that the asset follows. Occasionally, only the bottom trendline is used to show an asset\u2019s long-term potential.<\/span><\/p>\n

A more advanced method of doing this, is through \u201cBitcoin\u2019s natural long-term power-law corridor of growth<\/a>,\u201d according to \u201centrepreneur, engineer, and Bitcoin optimist\u201d Harold Christopher Burger.<\/span><\/p>\n

Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term\u00a0<\/a><\/strong><\/em><\/p>\n

Power law is defined as \u201ca functional relationship between two quantities, where a relative change in one quantity results in a proportional relative change in the other quantity, independent of the initial size of those quantities.\u201d<\/span><\/p>\n

Using such a model, Burger has created a long-term growth corridor consisting of a red upper band, and a green lower-band. Bitcoin price fell into the green band after support at $6K broke down, but is currently back above the green band.<\/span><\/p>\n

\"\"<\/p>\n

According to Burger, the model can give a sense of the minimum Bitcoin price<\/a> will be at any given time. The theory based on the model suggests that Bitcoin price will not reach $100K before 2021, but also that the crypto asset will not fall lower than that after 2028. This means that the minimum price floor in Bitcoin in less than ten years will be $100K, and could easily go much higher as that would be the lowest point of the growth corridor.<\/span><\/p>\n

Even more exciting is the fact that the model would suggest that Bitcoin price will not reach $1M per BTC until the earliest 2028, however, after 2037, the crypto asset will never again fall lower than $1M.<\/span><\/p>\n

Related Reading | Livermore Accumulation Cylinder Suggests Bitcoin To Set New ATH Next Rally\u00a0<\/a><\/strong><\/em><\/p>\n

Burger asserts that the long-term power law grows corridor cannot predict the timing of tops or bottoms, or even when bull markets might begin or end, however using the simple variables of time and price, the model could potentially accurately predict Bitcoin price minimums and maximums.<\/span><\/p>\n

At $1M per BTC<\/a>, most of the world\u2019s wealth and value would need to be stored in Bitcoin\u2019s network. But as another crypto analyst says<\/a>, the current price action in the crypto market is a \u201cstore of value in the making,\u201d and many believe that Bitcoin will eventually become the global currency for the internet. All of this would need to come to fruition for bitcoin to ever reach such valuations, however, if the model is accurate, it surely will in due time.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

According to polls, predictions, and commonly seen comments from the cryptocurrency community, most are certain that one day Bitcoin will reach prices of $100K to as much as one million USD. For most, it\u2019s not a matter of if, but when. A new study using a long-term power-law corridor of growth may help provide clues to when Bitcoin price will reach such incredible values or at the very least lock down timeframes when these values are most likely to be reached. Bitcoin Power Law Growth Corridor Predicts When Bitcoin Will Reach $100K, $1M Technical analysis often relies on charting channels by drawing a top and bottom parallel trend line that the asset follows. Occasionally, only the bottom trendline is used to show an asset\u2019s long-term potential. A more advanced method of doing this, is through \u201cBitcoin\u2019s natural long-term power-law corridor of growth,\u201d according to \u201centrepreneur, engineer, and Bitcoin optimist\u201d Harold Christopher Burger. Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term\u00a0 Power law is defined as \u201ca functional relationship between two quantities, where a relative change in one quantity results in a proportional relative change in the other quantity, independent of the initial size of those quantities.\u201d Using such a model, Burger has created a long-term growth corridor consisting of a red upper band, and a green lower-band. Bitcoin price fell into the green band after support at $6K broke down, but is currently back above the green band. According to Burger, the model can give a sense of the minimum Bitcoin price will be at any given time. The theory based on the model suggests that Bitcoin price will not reach $100K before 2021, but also that the crypto asset will not fall lower than that after 2028. This means that the minimum price floor in Bitcoin in less than ten years will be $100K, and could easily go much higher as that would be the lowest point of the growth corridor. Even more exciting is the fact that the model would suggest that Bitcoin price will not reach $1M per BTC until the earliest 2028, however, after 2037, the crypto asset will never again fall lower than $1M. Related Reading | Livermore Accumulation Cylinder Suggests Bitcoin To Set New ATH Next Rally\u00a0 Burger asserts that the long-term power law grows corridor cannot predict the timing of tops or bottoms, or even when bull markets might begin or end, however using the simple variables of time and price, the model could potentially accurately predict Bitcoin price minimums and maximums. At $1M per BTC, most of the world\u2019s wealth and value would need to be stored in Bitcoin\u2019s network. But as another crypto analyst says, the current price action in the crypto market is a \u201cstore of value in the making,\u201d and many believe that Bitcoin will eventually become the global currency for the internet. All of this would need to come to fruition for bitcoin to ever reach such valuations, however, if the model is accurate, it surely will in due time.<\/p>\n","protected":false},"author":517,"featured_media":395225,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,6664,54044,54045],"class_list":["post-395224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-crypto","tag-harold-christopher-burger","tag-power-law"],"acf":[],"yoast_head":"\nPower Law: Tracking Bitcoin\u2019s Growth to $100K and Beyond<\/title>\n<meta name=\"description\" content=\"According to polls, predictions, and commonly seen comments from the cryptocurrency community, most are certain that one day Bitcoin will reach prices of\" 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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