Coinscrum
Coinscrum
Jul 23, 2017 · 2 min read

Hey. Well, we did hit the 3k mark quicker than expected but (and i did think about it) if I’d attempted to predict every sub-wave within the larger degree waves I’d have been writing the damn article for ever:)

Firstly, you have to allow for the fact that, in writing a 3 year analysis, I would be unlikely to predict every volatile twist and turn. Over such a timeframe I’d prefer to look at the price on (around) a 10–30 day average. If you look at it by plotting a 30 day moving average (to filter out the noise of sudden spikes and dips), we haven’t reached the $3k mark yet.

Given the remaining uncertainties around lock-ins for segwit plus the subsequent battle for the “2x” lock-in (due for Nov ’17) I’m happy to wait-and-see for now.

It is possible that we are actually in Wave 4 of the overall count right now and we’re just about to enter a final Wave 5 in the next drive up (perhaps nowhere near the $33k I predicted).

This is essentially what the Goldman Sachs’ analyst has been saying in his recently posted Elliott Wave articles.

This may be so but, in my opinion, it would mean that the wavelengths (time) are out of whack.

He may work for Goldman Sachs and I may just be little ol’ me but I’m sticking with my opinion for now!

My thoughts may prove to be spectacularly wrong in hindsight come 2020 but I’ll, nevertheless, wait until next year before giving a half-time commentary:)

Thanks for the feedback in the mean time….

    Coinscrum

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