I did some basic research with quite interesting results:
> '79 - '80 - it took 2 years for a 460% rally from $190 to $875
> then 3 years ('80-'82) = 86% decline in value, which resulted in 24 years of $250 range.
> '79 - '80 - it took 2 years for a 460% rally from $190 to $875
> then 3 years ('80-'82) = 86% decline in value, which resulted in 24 years of $250 range.
The $250 range represents 36% of the whole $190 > $875 move which happened in only 2 years - '79-'80.
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Now from 2006 break of the $500 level, in 3 years we had 200% range extension
(500 ->1000 = 200% of the $250, 24-year range)
What is most probable to happen after we saw 100% appreciation in 3 years (500 > 1000 USD)?
In scope of these historical events it seems it might go up easily another 500 USD.
NOTE: However let's not forget that it took already 9 years (2001 > 2009) for a 400% rally from $250 to $1033.
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