Bitcoin Long Term Log Chart with Tech Adoption Cycles Overlaid
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This chart shows the long term logarithmic price action for Bitcoin vs. USD, with some carefully drawn long term support and resistance lines that have tracked the ebbs and flows of Bitcoin over time. It also indicates the dates of the halvings, which have historically correlated with rises and falls in Bitcoin price as the supply of new Bitcoin coming to existence. The chart then couples this information with the traditionally understood cycles of technical adoption, as I believe they relate to the waves of new people / users coming into the ecosystem. It can be used to help understand where bitcoin has gone and where it might go as the adoption rate continues to increase, but like everything else should be taken with a grain of salt as past performance and price cannot be guaranteed to coninue in the future, and rarely does for long... :)
Note
Chart also shows the 50 week moving average, which has also historically been a big indicator for big price movements when they are materially broken to the down or up side.
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