after the first crash steadied itself the price flatlined at $15 for a good while from the $32 high, that's about 45% off the high, now we are in almost the same situation, high of $266 and holding around $128-$132, which is just under 50% again. So the market is not really surprising me. It does seem though that either we'll slowly crawl upwards and bubble 3 will start or it will crumble, it's so hard to tell, no matter what bulls or bears say. After the first crash we managed to pull out of it and bitcoin survived to go on and and hit 8.3x the old ATH, and we're in the same situation again, if Bitcoin grows as the VC people in Silicon Valley want then we could easily see bubble 3 with much higher highs than $266, but at the same time there is potential for bitcoin to crumble. Interesting times really, and no one really knows what's going to happen because it's major future events that will dictate where we go and it obviously depends on the next stage of bitcoins evolution, either it flourishes and becomes widely accepted creating bubble 3 or it gets hammered down on by regulators and governments and people just cash out what they can and walk away.
There are definitely similarities to 2011, especially looking at the charts. Also in the level of FUD spreading: is "the Government will go after BTC" the new "exchange was hacked and everybody lost everything"?
I just missing those bitter posts about Bitcoin being a Ponzi and Satoshi its very own Maddoff (but of course those posts peaked on November, just approaching the very $2 bottom).
To the contrary, just after April 10th 2013 we had lots of good news and positive media coverage - which didn't have at all in 2011.
I guess we are approaching the moment in which we will see clearly if the April 10th crash was a bubble pop or a correction. If we break $125, I expect to creep down slowly.
No way so deep as in 2011, but deeper than most permabulls expect.
