Did anyone look back at the 6/11 crash? I think these curves lag the crash considerably.
If I'm not mistaken the 6/11 crash occurred due to a hack, not falling interest
No. Wrong. The price had dropped to $17 before the Mt.Gox incident.
This, and the following 6 months of decline can hardly be called a crash.
Crashes don't take 6 months, Bear markets/corrections do. That was just a major wave-2, kind of like the major wave-4 decline that is inevitably to come.
Also, the use of client downloads as an indicator of adoption doesn't tell much when every new release is DL'd by the whole community. On top of that I have it on 4 different computers. On top of that, when a major flaw happens, requiring a patch/rewrite, then requiring us to DL the latest client or our blockchains will no longer be recognized by the network, that is a lot of downloads by the same people. I've personally DL'd 6 different client versions, on four different computers...So that's 24 DL's from one person. I'm sure others have done the same too.
And finally,Just like difficulty following price, so do new users. Where there is easy money to be made, there will be people there to sop it up. Don't think for a second that ALL these new users are here because they want to see Bitcoin succeed. They couldn't give a fuck less. They just want a get rich quick scheme that works, and they will leave just like many of the old users from the first "over-expansion" (
) did