For those interested, I tried to portray a little of BTC's history in a chart. Make it a little more than just lines. It is the main reason why I am bullish and why I do not think we repeat 2014 or go back down below 6.5 again. Everything is possible of course. Not all patterns repeat, especially not those caused by 'black swan events' like the first bankruptcy of - at the time - the biggest 'exchange'. The world has changed dramatically since then. No main stream adoption yet, but getting there. Market cap has exploded, alts have created a new market, we have futures, etc.
Anyone thinking they can compare today to 2014 is a blabbering idiot, in my opinion. Also, don't expect 2017 to repeat itself by the way. Not guaranteed to happen either. We can go down but not for the reasons stated. To go down to those levels, something serious needs to happen. Interestingly, if you look at 2014, we see bearish divergence even before the MtG news broke explaining the 80% retrace. Mt Gox went bankrupt for a reason and the - at the time - overheated market might have contributed.
Anyway; for entertainment, not for analysis.
Have a great day.
