Really? I blamed the perfect storm.
me too.
block reward halving (price approximately doubles from $6 - $12),
bitcoin userbase growing (thanks to announcements like wordpress, etc) ($12 - ATH)
people speculating on the above, (ATH - $100),
reddit announces accepting bitcoin for reddit gold ($100 - $150)
people speculating on the above ($100 - bubble and crash)
oh, and don't forget the magnitude of the
deflation effect, which has been incentivizing a serious market correction ever since we first pushed past the peak of the pirate bubble.
i'll see you guys in single digits
jk, maybe $10, but still... sucks for all you 'trend followers'. 14 straight weeks of green candles = completely unprecedented overextension of the price.
im not 'just saying this' either. not only did i project this as a likely outcome of runaway deflation in the thread linked above posted on 10 Feb (that was the whole point of that thread, and i got sooooo much hate), but I've been a proud bear since around that time ($13) and i have no regrets that i didn't mess around with this completely irresponsible exuberance.