I compiled the new trendline, the parameters of which are:

y = 0,003073x - 2,909514
R² = 0,922424

Here "x" is the number of days passed since and including 3.1.2009. "y" is the log of the prevailing usd/btc. I had to go to use Bitstamp solely for price data since 28.12.2013, because Mt.Gox was not reliable anymore due to its problems and also BTC China has its own problems.

The data is no longer monthly. Daily averages were used.

We are now at $577 in the trendline. Because the current price is higher, we are 0.138 units above the trend.

The trend will reach $800 in 9.3.2014 and $1,000,000 in 11.12.2016.

Thank you

Next question is - what will happen next?

A) Bounce from the trendline towards new highs
B) Something else (what?)

Thank you

Next question is - what will happen next?

A) Bounce from the trendline towards new highs
B) Something else (what?)

I've plotted the new trendline with typical daily price for Bitstamp and MtGox starting from 2012.

The graph has lines for 2, 3, ..., 9, 10, 20, ..., 90, 100, 200, ..., 900, 1000, 2000, ..., 9000, 10000.

Why do you need base 2?

I'm also a fan of base 2 log plots. I think it's the most practical for easily reading off precise amounts on a log plot.