Let's assume (for the third or fourth time, I know) that
this is the last time we see quad-digits. Dangerous, I know, but I get impatient.
Since my last update, this means
Da Bears only managed to erode into a single doubling floor, extending the $5k to $10k floor by 21 more days, for a total of 121 days since we last saw $5k.
For reference, the Mt Gox correction eroded three presumed doubling floors ($640, $320, $160), taking over three years to reestablish these support levels.
Projecting from trend, I'm thinking another 90 days until we establish $20k as a new floor, maybe around mid-May.
$10k marks the 12th Bitcoin doubling floor since $2.50 in 2012.
The shortest doubling floor was 39 days from $20 to $40.
The longest doubling floor was 546 days from $80 to $160 post-Mt Gox.
As a HODLer, I prefer charting floors vs all-time highs. ATHs are too transient and susceptible to FUD, making them more suitable for
rektees traders.
Go Bitcoin Go!