What news preceded the crash at 266?
Kind of comparing apples to oranges.
At that stage, there weren't thousands of people who knew nothing about Bitcoin, currently invested.
People who run for the hills based on random bad press, because they comprehend nothing about Bitcoin itself.
My statement that crashes only happen with bad press, only applies to the current bitcoin scene.
Back at 266 it was a whole different culture.
But apparently something did happen to cause the crash.
(hard fork and gox problems? - im quoting people).
Since then however, its been 100% bad press that has caused panic sells.
With one caveat: Those who sell at arbitrary high limits.
I predicted we'd have a much bigger crash after hitting $1,000 because so many ... many people would cash out at that point.
Its just a nice, round number. No other logic involved. "Scared" to continue holding.
So yes there are those who cause crashes because they reached their number.
But we've been at 1,000 for awhile now. No more big crashes without bad press.
We will see though.
