Adrian McMenamin

When will the Bitcoin burst happen?

This chart is interesting:

Bitcoin price March 2013Over 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.

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