Last Year at this exact time almost NOBODY had heard of Bitcoin….within a few weeks EVERYBODY and his ASS was either IN or wished they were.

That was about to change in the most dramatic way. The mania lasted just over a month and by Christmas it was ALL OVER ! Buy the dip the Bitcoin Gurus all said…its going to $1 Million ! For sure !! The Gurus were Gurus for a month !

This chart is GBTC the ETF which is a proxy for Bitcoin.The real Bitcoin went from a few bucks to $20,000 in about a year. Some of the early folks ( we had a few here) will tell you they are happy with thier “Investment” because they are still up 100s of %…but NOBODY you know sold the top…as it lasted a nanosecond….just like in Gold 1980 and 2011.

It is a Classic.

Massive Parabolas ALWAYS end this way…and this will go on an on and on…for years ( maybe decades)

Look at Gold…The Parabola was in 2011 and we are still in a slow dribbling downtrend 7 years later and if 1980 is the model we have over a decade still to go.

Goldbugs could see this bitcoin result coming because we got caught up in one of these not once but twice and many are still in denial that they shoulda sold a long time ago… but Bitcomaniacs had to learn the hard way…which is the only way .

The “reason” du jour

https://arstechnica.com/tech-policy/2018/11/bitcoin-plunges-12-percent-reaching-lowest-value-in-a-year/