I looked through many speculative markets dot.com bubble , penny stock bubble on sgx ...always see the same thing.
Bubble rises 3x or 10x to a peak then comes down speculators will go in to bargain hunt resulting in a second peak. When it comes off the 2nd peak many speculators think it will come back again just like the first time so they hang on.
It then drops and drops while investors hope for comeback. When it breaks a key level above which most speculators got in, they will start panicking and rush out.
We are at that level now. I believe bitcoin will accelerate down just as it accelerate up 2 yrs ago.
People will want to preserve whatever they have before the losses mount.
Some stubborn ones will never exit and will hold the bag.
Bitcoin is like a religion and is.faith based bubble. Once the belief is broken like one of the crytos last week it is gone. People should seriously learn from what has happen rather than just stubbornly cling on.
However some people need to lose all their money for them to understand the risk they have taken. They cannot understand something will happen until they see it happen.
![[Image: XLJRIcU.jpg]](https://i.imgur.com/XLJRIcU.jpg)
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.