Tag Archives: Bubble

Bitcoin Crashes From $900 To $450 In Two Days

After hitting a high of $900 on sunday night bitcoin has now fallen to a price of $450. A 50% drop from the top so far. Some people have been writing that bitcoin can go as far as $10,000 or even $1 million.

Below is a chart of the last three days where you can clearly see the crash to $450. (Chart: clarkmoody)

Bitcoin price chart 900 top to low 450

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This Chart Of Bitcoins Looks A Lot Like An Average Bubble

I love reading about bubbles. It’s the psychological aspect of it that I like the most. Greed and human beings.

The price of Bitcoins has gone parabolic in the last few days. The price went up 152% this month alone! The value of all Bitcoins outstanding is now $ 1 billion.

Some say that the way the Cyprus bailout handles depositors and the capital controls forced on savers is the cause for this rise in the last month.

Too much people are flocking into Bitcoins out of fear for another Cyprus style bailout and it is starting to make the Bitcoins chart look like an average bubble. Compare these two charts.

Bitcoin price in USD at Mt.Gox:

Bitcoins mt gox

How an average bubble forms:

average bubble chart

My take is that we are pretty much near the end of the parabolic rise. But ofcourse these things can continue longer than most can imagine..