From FT Alphaville:
Cult Markets: When the bubble bursts
This is Jean-Paul Rodrigue’s stages of a bubble chart:
This is a chart of the price of Bitcoin from the BoE:
See any resemblance?
If you do, you might also note that we *could* be approaching the critical fear-through-capitulation stage.
Today’s low so far on the Bitstamp exchange is $399 and $383 on BTC-e exchange (changing quickly!). Here’s a snapshot of the BTC-e action via BitcoinWisdom:
We’re going to stick our neck out at this stage and call this the end of Bitcoin. The reason being, the positive-feedback loop forces which drove Bitcoin to $1124.76 have now become the same very same which will drive it down to the bottom....MORE, including links to the various posts in the Bitcoin Mania series
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