History repeates 2011 right now?

[Hyena]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

[RyNinDaCleM]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

[keystroke]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

It could be true. But if it takes us to such stratospheric highs then who cares?

[Hyena]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time).  

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

Good point, that would mean 35$ is the bottom that is yet to come

edit:
but we must also consider the number of coins stolen. 18k vs how many were stolen from gox 2011?

[RyNinDaCleM]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time).  

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

Good point, that would mean 35$ is the bottom that is yet to come

edit:
but we must also consider the number of coins stolen. 18k vs how many were stolen from gox 2011?

Ok, I'll concede and say 2 more months of bear market is *possible*

It could be true. But if it takes us to such stratospheric highs then who cares?

I would be ok with that! I...I like money

[Warren Buffert]

More sound analysis from the bulltards like usual:

[bigtimespaghetti]

Interesting, but I'm not entirely convinced of the correlation. BTC was in a very different position in so many ways back in 2011.

[sgbett]

Interesting, but I think the most important factor everyone is overlooking is

WINGLEWII!!!

 

[sgbett]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

Bitcoinica collapse was down near $2 wasn't it ?

[Dilla]

If we go by proportions we still need to go down to about $68, then bounce up to $7885

[RyNinDaCleM]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time).  

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

Bitcoinica collapse was down near $2 wasn't it ?

It was after the bottom. I want to say February or March 2012. If you remember the meelba short, that was after the $7.22 top in January. It was after that

[celebreze32]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

Bitcoinica collapse was down near $2 wasn't it ?

It was after the bottom. I want to say February or March 2012

Which got hacked first, Bitcoinica or Mt Gox?

[Bobsurplus]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

Right on brother! To the moon we go.. People have really short memories in the bitcoin world it seems. I missed the 2-35-2 rise and crash.. I was around from 10-260-50.... then from 50-1200-250... I dont forget....
Its just the vicious cycle that btc's in for the foreseeable future. Until its truly taken over the world. Then these swings will be behind us. But that's still at least 5-10 years away, maybe more.


#MoonBound

[sgbett]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

Right on brother! To the moon we go.. People have really short memories in the bitcoin world it seems. I missed the 2-35-2 rise and crash.. I was around from 10-260-50.... then from 50-1200-250... I dont forget....
Its just the vicious cycle that btc's in for the foreseeable future. Until its truly taken over the world. Then these swings will be behind us. But that's still at least 5-10 years away, maybe more.


#MoonBound

#occamsrazorpost

[Bobsurplus]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time). 

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

Right on brother! To the moon we go.. People have really short memories in the bitcoin world it seems. I missed the 2-35-2 rise and crash.. I was around from 10-260-50.... then from 50-1200-250... I dont forget....
Its just the vicious cycle that btc's in for the foreseeable future. Until its truly taken over the world. Then these swings will be behind us. But that's still at least 5-10 years away, maybe more.


#MoonBound

#occamsrazorpost

Do I win because I have fewer assumptions??   

[sgbett]

Maybe we all win

[esse83]

The 2011 bubble ended with a Mt. Gox hack which brought bitcoin down to 2$.
Now, Bitstamp got hacked after a long bear market following the last bubble.

If 2011 bottom formed from 35$ to 2$ to 230$ and the history really is more or less repeating itself then
2014 bottom would be 1200$ to 250$ to 28750$ (assuming 250$ was the bottom this time).  

Considering that the Winglewii EDF impending upon us, 5 digits seem realistic. If I remember correctly someone predicted 40k $ per BTC a fair price in the world where EDG has manifested.

The Gox hack was at about $17 and had 5 more months of decline after that. So if we extrapolate that to now, then we have about 3 more years of bear market

Good point, that would mean 35$ is the bottom that is yet to come

edit:
but we must also consider the number of coins stolen. 18k vs how many were stolen from gox 2011?

Gox lost about BTC2k in the 2011 hack, well according to Mark Karpeles that is

[Bobsurplus]

Maybe we all win

I can get with that... Good luck to all of us then!

#ToTheMoon

[GÜNther.Danish]

it shold be repeated 2013. from $500 to $200 to $100 to $60 to $30 to $10.. 

[bclcjunkie]

it's foolish to gauge bitcoin prices on historic recurrence as what makes history repeat are the human factors which are predictable and repetitive such as speculative activity, greed and etc. However for all those factors to work you also need conducive environment which is what we lack at the moment:
- As far as i recall back then bitcoin supply was easily mopped up due to its low exchange rate thereby it was easy to pump based on how easy it was to create artificial shortage. In these times we now have opposite of that:, there're miners who provide ample supply, payment processors that U turn and dump again, there's still excess of 700000-800000 coins (MtGOX,SR coins and now Bitstamp) floating around that will have to be liquidated/dumped/bought somehow

- Back then Fed was pumping billions of dollars thereby flooding markets with cheap money. I mean any tom, dick and harry could borrow at ridiculously low rates and invest in something to make money. Some of that excess money found their way to exotic investments such as bitcoin, so it's no brainer to see how the hot money pumped bitcoin to 200+ range. The same folks that knew how to profit from penny stocks applied the same techniques to bitcoin. On the contrary i see bloodbath in economy, fed scaling down on cheap money and etc... Now blockchain potential and price speculation are 2 different things though, speculative activity doesn't affect blockchain legitimacy.

- Mining was decentralized  and a hobby until ASICs came to the scene turning the industry into lemonade factory, we now have even more ASIC manufacturers and mining operations that have no interest in bitcoin's future but rather scam, mine the heck out of it and dump it.

i can only think of a few things at the moment but i can assure you, times have changed a lot lately and for history to repeat for bitcoin something unusual and on a big scale has to happen. Black swan events are so rare that we may not even get one.. The only optimistic opportunity is blockchain finds its real usage and takes mass adoption to unpredictable levels thereby creating real demand for coins.