Topic: Putting the first Bitcoin bubble into context - page 2. (Read 3287 times)
I'm not sure what the point of this thread is. The first bubble was people like me that went wtf is Bitcoin? I gonna get me some! A few saavy speculators played pump-n-dump to take advantage of us. Little do they know that the last laugh is on them, because I now know what Bitcoin is and the speculators that thought it was a fad are now saying wtf. There will be more bubbles, but they will always find a higher floor.
I agree that price movements currently are no where near a "bubble". Looks like a solid base and we will back and fill from here slowly and rise slowly as we approach block reward halving and possibly network hashrate increase.
I was wondering, do people realize just how crazy and obvious the first Bitcoin bubble was?
Take a look at this:
Watch the close price! In a matter of just 8 days we went from 8.741 to 29.6, which means the closing price more than tripled in just over a week. Well if this is a baseline, clearly we haven't again experienced something like it even with the recent price jump.
Don't misunderstand me, we still might be speeding a little bit right now but in the context of the first bubble I don't think we should worry all that much just yet.
What do you think using the first bubble as a baseline for this kind of thought?
Take a look at this:
Code:
Timestamp Open High Low Close Volume (BTC) Volume (Currency) Weighted Price
2011-05-31 00:00:00 8.8 9.4998 8.1 8.741 45794.43 406882.27 8.88
2011-06-01 00:00:00 8.741 9.6987 8.3 9.57 43479.96 400564.35 9.21
2011-06-02 00:00:00 9.57 10.888 9.5 10.6 41047.27 415112.72 10.11
2011-06-03 00:00:00 10.6 14.499 10.5752 14.29 72980.24 954513.54 13.08
2011-06-04 00:00:00 14.29 18.89 14.04 18.89 44475.34 729670.85 16.41
2011-06-05 00:00:00 18.89 18.998 16.2 16.7 24278.97 420612.47 17.32
2011-06-06 00:00:00 16.7 19.23 16.4513 18.5499 55092.47 1016927.39 18.46
2011-06-07 00:00:00 18.5499 24.32 18.26 23.9234 53715.04 1068903.32 19.9
2011-06-08 00:00:00 23.9234 31.9099 22.2135 29.6 104925.16 2858820.38 27.25
2011-06-09 00:00:00 29.6 31.5 26.151 28.919 62933.66 1861589.64 29.58
2011-06-10 00:00:00 28.919 29.399 20.01 23.9497 92208.2 2274786.4 24.67
2011-06-11 00:00:00 23.9497 23.99 13 14.6511 121869.97 2146587.96 17.61
2011-06-12 00:00:00 14.6511 24.99 10.25 18.5464 151194.16 2451134.56 16.21
2011-06-13 00:00:00 18.5464 24.5 16 19.84 73421.79 1476239.59 20.11
2011-06-14 00:00:00 19.84 20.5 18.001 19.28 36155.99 696003.98 19.25
2011-06-15 00:00:00 19.28 20 19.022 19.49 27711.9 545336.14 19.68
2011-06-16 00:00:00 19.49 19.89 17 17 49202.14 927743.42 18.86
2011-06-17 00:00:00 17 18.34 13 15.681 108623.77 1684353.23 15.51
2011-06-18 00:00:00 15.681 16.9499 15.052 16.89 35536.55 569949.34 16.04
2011-06-19 00:00:00 16.89 18.8766 16.85 17.51 30176.74 536267.38 17.77
Quote
EDIT: hack happened on the 19th of June, after the last entry above
Watch the close price! In a matter of just 8 days we went from 8.741 to 29.6, which means the closing price more than tripled in just over a week. Well if this is a baseline, clearly we haven't again experienced something like it even with the recent price jump.
Don't misunderstand me, we still might be speeding a little bit right now but in the context of the first bubble I don't think we should worry all that much just yet.
What do you think using the first bubble as a baseline for this kind of thought?
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