I agree.
31 was the first sellof
2 was the bear trap
something between 78 and infinity will be new paradigm
and finally
despair will go below 1.
Topic: Bubble? Growth? One goat's thoughts - page 3. (Read 4908 times)
From two months ago, in a thread about bubbles:
I'm thinking somewhere between "greed" and "delusion"....
In the end, it seems clear that this read was incorrect; at the time, the price of one bitcoin was something like $20.
However,
(please don't laugh!)
fool that I am, I suspect that the chart has finally begun to apply.
Recently, people have pointed out that there are many, many new accounts being created at the major exchanges. Bitstamp account IDs have tripled in the past month. Mt. Gox made a post discussing their increased volume. And with the Cyprus haircuts (or scalpings, if you prefer), many major news organizations are reporting on Bitcoin as a currency of flight for panicked Europeans.
That's "Media Attention" - the beginning of the public investment (mania) phase of a bubble.
Does this mean I predict a price crash tomorrow? Of course not! After all, even if my read is correct (a long shot, to be sure), it only puts the bubble at preliminary levels, far below the peak. If the chart holds, we'll see prices in the hundreds before the spaceship comes crashing down, and the crash isn't even guaranteed to break through $10/coin.
But I feel as though the conditions that create a textbook bubble have finally begun to emerge.
Just one foolish forum member's thoughts. Take them however you will.
I'm thinking somewhere between "greed" and "delusion"....
However,
(please don't laugh!)
fool that I am, I suspect that the chart has finally begun to apply.
Recently, people have pointed out that there are many, many new accounts being created at the major exchanges. Bitstamp account IDs have tripled in the past month. Mt. Gox made a post discussing their increased volume. And with the Cyprus haircuts (or scalpings, if you prefer), many major news organizations are reporting on Bitcoin as a currency of flight for panicked Europeans.
That's "Media Attention" - the beginning of the public investment (mania) phase of a bubble.
Does this mean I predict a price crash tomorrow? Of course not! After all, even if my read is correct (a long shot, to be sure), it only puts the bubble at preliminary levels, far below the peak. If the chart holds, we'll see prices in the hundreds before the spaceship comes crashing down, and the crash isn't even guaranteed to break through $10/coin.
But I feel as though the conditions that create a textbook bubble have finally begun to emerge.
Just one foolish forum member's thoughts. Take them however you will.
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