Quick and dirty TA: ETHUSD log chart lifetime extrapolated.
Quick and dirty TA analysis of ETHUSD lifetime:
This chart makes a quick and dirty job of extrapolating current ETH:USD price behavior on a logarithmic lifetime scale starting from the bull run in Jan 2016. It assumes continued exponential growth in cryptocurrency as established by previous general crypto market trends (see various multiple top 10-20 cryptocurrency patterns + global cryptomarket cap).
It shows that assuming ETH:USD growth remains in the current marked channels we should see significant growth before the end of the year in ETH price with a $1000/ETH target by November 2017. Absolutely no promises but it's back-tested and gives a good mid-term picture on a background of significant volatility.
There are multiple reasons to be bullish on ETH provided questions about scalability are solved; developments appear to be underway and the widespread international corporate and government adoption of Ethereum under the EEA banner provides the fuel in terms of financial incentive/backing and developer draw to overcome the challenges ahead. ETH remains significantly ahead of competitor smart contract chains (in terms of adoption, acceptance, development pace and price discovery).
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Credit to u/antiprosynthesis for pointing out the trend for me in the first place (he spotted it as it began back in Jan 2017).
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