Looks more and more like a 2011 repeat

[manfred]

Latest update on progress
The 100 roughly lines up with 15 and 200 with 30 gives it a 6.66 to 1 ratio

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[Dumbastronaut]

Latest update on progress

It's been said but i'll say it again. Excellent job on these charts

[tokeweed]

Bubbles, bubbles never change.

this

[torbank]

Striking similarity.

I wonder if this time is different?

[bitcon]

we're in a superbubble. (not a regular bubble.)

[Spaceman_Spiff]

we're in a superbubble. (not a regular bubble.)

In what way is it different from a regular bubble?  Do you mean that we are still in a long-term bull-market?

[Crypt_Current]

we're in a superbubble. (not a regular bubble.)

In what way is it different from a regular bubble?  Do you mean that we are still in a long-term bull-market?

Yes.  This is a heretofore unprecedented commodity -- itself representing the invention of a whole new class of commodity -- why would anyone expect it to behave like any other existing financial instrument?

[Spaceman_Spiff]

we're in a superbubble. (not a regular bubble.)

In what way is it different from a regular bubble?  Do you mean that we are still in a long-term bull-market?

Yes.  This is a heretofore unprecedented commodity -- itself representing the invention of a whole new class of commodity -- why would anyone expect it to behave like any other existing financial instrument?

Agreed that it is a new commodity, I also think we are in a LT bull.
Behaving like any other existing financial instrument --> because of human nature, and its way of doing price discovery.

[kokojie]

all bubbles/pump&dump look alike

[silverfuture]

we're in a superbubble. (not a regular bubble.)

In what way is it different from a regular bubble?  Do you mean that we are still in a long-term bull-market?

Yes.  This is a heretofore unprecedented commodity -- itself representing the invention of a whole new class of commodity -- why would anyone expect it to behave like any other existing financial instrument?

Because Bitcoin is different, but human action isn't?

[247saver]

We were making higher lows.

Now it's getting very close though...

[Manna]

In Price, I see no bubble , look at the log-chart
When it comes to the volume,  I would say its a bubble, so what ?

[Spaceman_Spiff]

In Price, I see no bubble , look at the log-chart
When it comes to the volume,  I would say its a bubble, so what ?

Would you call 2011 a bubble?
PS: your volume isn't charted log scale.

[Manna]

In Price, I see no bubble , look at the log-chart
When it comes to the volume,  I would say its a bubble, so what ?

Would you call 2011 a bubble?
PS: your volume isn't charted log scale.

Yes, because we were at an early stage and fundamentals were not as good as today, there are much better (1000%) than 2011. I call a bubble when the price is unrealistic atm and for mid-term, because of thin good fundamentals and lots of rumors. Only my opion.

[Luciddd]

Bubbles always pop the same. 

[samson]

Because Bitcoin is different, but human action isn't?

I think this could be the reason.

It will continue to deflate until people think it's bottomed out.

$100 is not a good price.

$20 would be a good price based on the $15 price in January - anything after mid January and a good chunk before it is pure speculation.

[4mherewego]

http://www.youtube.com/watch?v=bw9CALKOvAI

[johnyj]

From the time line, two price spike matches perfectly with QE2 (November 2010 - June 2011) and QE3 (September 2012 - now), so when QE3 ends, it will be the time for bitcoin exchange rate to sink again. Historically, bubble always popped when central bank start to tighten the money supply, but this time the housing bubble has kidnaped the whole economy, they have to keep printing money to keep it alive, let's see what FED is going to say tonight

But just like theory of relativity, if you regard bitcoin as a base unit of value, then it means when central bank start to print more money, the USD's value dropped, at mean time, the value of all the goods/services that is valued by USD also dropped, since their exchange rate are all pegged to USD for some strange reason (consensus?)

[Odalv]

In Price, I see no bubble , look at the log-chart
When it comes to the volume,  I would say its a bubble, so what ?

to me it looks like november 2010

[manfred]

November 2010, yep those where the golden times a Bitcoin costs less than 2 cents. The purchase of a singe pizza doubling the price and Satoshi personally still active on this site.  Would't it sometime be nice to turn back time.