This chart is interesting:
Over the last five days we can see that the Bitcoin price has risen by 25% but that volumes have remain low except when prices fell.
Having very recently read Galbraith’s The Great Crash 1929 – an essential classic – my gut feeling is that indicates the crash is pretty close. There plainly are a lot of people who will want to get out when they think the time is right and so they will stampede one another when a sell-off begins in earnest.
My instinct, for what it’s worth (I don’t trade in Bitcoin, I don’t intend to and I am nobody’s financial adviser), would be to sell now: don’t wait for the moment the market goes into a tailspin.
- Waiting for the Bitcoin bubble to burst (cartesianproduct.wordpress.com)
- Something Is Definitely Happening In The Bitcoin World (statspotting.com)
- Bitcoin ‘Glitch’ Sparks 23% Flash Crash (zerohedge.com)