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Bitcoin is a fraud, nothing more than a ponzi scheme. I do feel sorry for those people buying at today's prices. I remember studying the tulip crash in the 1600's. I predict Bitcoin will crash in 2018. When it crashes you get nothing, not even a beautiful tulip. Here's a list of market crashes:
Nor is Bitcoin - your analysis offers no insight either.
All bubbles burst in the steady state. They end badly but only for the people who're caught holding the parcel when the music stops. In the run up to the burst, many times more number of people make lots of money as the bubble grows in the transient state that lasts several years. Not surprisingly, burst of past bubbles has never stopped future bubbles from forming. The list at the end of your post is adequate testimony.
I think the question is - did you predict it to rise this much? :)
Retired IBMer and Banking Executive
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