The top?

Thanks to AF Bitcoins for the post…

AF Bitcoins

Heres the latest 2 month chart.

Image

Price has dropped by a huge amount in a very short space of time. As in my bull market tops post this seems to fit the criteria of a sharp spike down rather well. Might this be a dead cat bounce in progress now? If that is the top then we can expect a long slow decline in price after the dead cat bounce has finished. I’d have a rough guess maybe bottoming somewhere about $50 quite some time from now. Don’t think we’ll see single digits again though.

Heres a view of the 2011 top for camparison purposes

Image

Back in 2011, the price dropped from 30 down to 10. A similar drop in magnitude to last nights drop (roughly 3 x drop).

So was that the top? Although I said no in my last post, in the heat of the moment late last…

View original post 155 more words

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