This Bitcoin Price Prediction Chart Shows Parabolic Gains

Anyone who follows Bitcoin knows how it has a history of dramatic price swings.

But that history, when translated to a logarithmic Bitcoin price prediction chart, shows that over the long term, the price of Bitcoin has followed a distinct pattern as it has moved higher.

And that suggests several more steep jumps lie ahead for the preeminent cryptocurrency that will push BTC not only past its all-time high of just under $20,000, but far beyond it, past $50,000 in the near term and ultimately to $250,000 or even $1 million.

Prateek Goorha, an interdisciplinary social scientist with an interest in the economics of innovation and creativity, has written two blog posts analyzing the phenomenon, which he calls the "parabolic supertrend" in Bitcoin.

The basic idea is that each major Bitcoin price jump has come as the result of three distinct phases.