Bitcoin Forum

The last bubble:

http://i42.tinypic.com/nqy7up.png

We missed the big spike, but does this look familiar?

http://i39.tinypic.com/2q152z7.png



So...what happened after that last time we were here?







http://i40.tinypic.com/6xzyno.png

+1 for objectivity

Indeed!

And I hope this is the case, although BTCUSD is Schroedinger's cat. It is never where most of us predict it to be.

there is alot of talks about in 4 months big money from Wall Street coming in. If thats true it would solidify this even more.

I think we can leave China behind now...

If the price drops again that would be great. The whole point is to get as many bitcoins as possible.

After the last drop I gained a bunch from people who do not want to take part in the new economy.

Don't you think that we are in a very different context now?

I'm just saying you can't be 100% sure of things based on patterns like this.

T.Stuart, same question for you, don't you think that we are in a different context now? (it's also Christmas!  :))
In April, sure, there was some press coverage but literally now you can read about cryptos everywhere! many more services, much more capital, china replaced mtgox position (temporarily looking at the last fud-news), governments around the world trying to regulate cryptos etc.  A bad news from a major country can still change everything, for this reason we might even be still in the middle of bigger bubble, you just can't say it

I agree that no-one can be sure. Investors need a stomach of steel on this one! But things have changed very much this year.

I think it is very likely that if Bitcoin is not wiped out or very seriously compromised then the next couple of years at least are very bullish. The media spotlight can give the illusion that most people know about Bitcoin. This might lead one to believe that many people have already decided whether or not they want in. I really believe that most people do not know Bitcoin (beyond perhaps reading a headline) and have not decided whether or not they want in. When they do come around to deciding, the main question will be "Will Bitcoin disappear or keep going?" I just can't see how it is going to disappear anytime soon, and with every new tech investment, with every new hedge fund endorsement, with every new decision to classify Bitcoin as an asset, people will find it more and more difficult to imagine Bitcoin disappearing.

Which means that with things as they are right now, the door to many milllions of people is swinging open for the first time ever. That's also the reason why the "China" news is not so bad - because there are so many potential new adopters everywhere (including China even if it is banned!).

This is a great thread to keep things in perspective. Many of us were around in 2011 and remember our investments going to a fraction of what they were. However, the market cap back then was much, much smaller. We now have the Chinese investing as well.

It was much easier for the price to fall back in 2011 since there wasn't near as much money in the market then. People only had a couple thousand dollars invested. Now, there is much more money per person and those people aren't going to all take out their money at once.

 Now, there is much more money per person and those people aren't going to all take out their money at once.
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There are many more people. That's what will keep things going up for a while and also smooth things out at the same time.

To the OP ... Im hoping it will be like that after this bubble, but for some reason .. I think it will be more like the first bubble pop ... much more steady decline, to stay low for a while ... then everyone will get interested in it again at some point =)

What happened to the people who bought at $30 in 2011 and held for 2 years?

I like how people try to compare human emotions to chart patterns making it seem like there is a set cycle that repeats itself.

I'm sure the news from China was planned exactly to come out at the right time to make the chart resemble the one from April.

Everyone was fighting to become the one to pop the bubble in the media. If it was not China it would people saying "I'm sure the news of Bernanke calling Bitcoin a bubble was planned exactly to come out at the right time to make the chart resemble the one from April."

People knew the price would drop, everyone was sitting next to the sell key trying to time the top. China was used as a catalyst this time. Last time it was because MtGox was lagged.

And the China news is not really that big of a deal, if that were mentioned in the middle of the summer when prices were stable, nobody would have really cared at all.

Half of the crap being posted is false panic to prey on people's emotions with such an emotional price hike.

https://i.imgur.com/y9yEIS1l.png

Why did you make it look like the bottom was ~100?

Still trying to recover my friends account from Gox which was apparently deleted and then someone took his user name.  He bought at 31.  After battling gox support and finally finding his account number in the list of hacked accounts.  We are now waiting and watching them lose value as Gox support can't seem to fulfill a username reset request.  It's been well over a month.  So ya, that's what's happened to one. 

Amen......and then.....they had their shit together for every bubble since!

Live, learn, PROFIT.