MT Gox had noting to do with that crash no
MT Gox gets far more credit that it deserves for that bear market. It was a technical consolidation, plain and simple because nothing does that many multiples of gain without a corresponding consolidation.
Look back in history at previous spikes - you'll see exactly the same thing.
If it retests $1850 at least once more you can start feeling bullish again. Even an 80% retrace wouldn't be unreasonable if this is the top which means that we're looking at around $900 for the retest before further long term growth.
Indeed. I was here around late 2013, early 2014, watching the situation develop. The parallelles between then and now are offsetting, including the rampant permabull behavior among users here. Again, just like back then, most people won't even see the major correction coming.
There are even plenty of older members here that claim Bitcoin is not in a bubble. For god sake people, it is! Bitcoin started to bubble as soon as the ICO thing got out of hand, whereas BTC was the entry coin to that circus. The same trouble around BTC applies as in late 2013, early 2014: still, nearly no one is using it. People love to refer to Japan, but there are a handful of nodes running there, that's it.
Maybe the bubble pops today, maybe a month or year from now, but probably from this day onwards in my view. People underestimate the regulatory aspect here continuously: China apparantly will ban free trade of BTC, but don't think that China could be the only nation to do so. Any asset that makes money laundering and financing of criminal activities easier and more difficult to trace, is the enemy of nation states. Whenever BTC grows too big, governments will simply start taking out the hubs where you can exchange it or use it to buy other goods.
