Early this year, I took a deep breath and uttered what I thought was a laughable price target on Bitcoin, which was based on its Fibonacci extension. The target was above $73,000 and, hard as it may be to believe, we’re getting awfully close, with “only” about 15% to go.
Here is a closer view, showing the recent breakout and the target price:
I always thought this thing started off at one penny per coin, which would be insane enough, but that isn’t true. Turns out this thing kicked off its life at $0.0008, which absolutely boggles the mind. I think nothing on Earth better represents how we have collectively gone Looney Tunes.
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