Look at this going straight up in exponential fashion. Remember when this was happening with bitcoin and everyone was all giddy? Remember how fast and deep the reversal was? You are looking at the madness of crowds in action and my wave model says that this spike is most likely heading to a blow off top that will turn down just as hard as it turned up.
At this point my model sees 5 rail bumps forming an expanding wedge in 5 wave throwover. The implication is negative within a few weeks if not much sooner. Could something else possibly be at play here? Of course! Nobody knows the future with certainty. But I think there is a 70% chance that a major peak is very near.
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