[
] A week from now things are going to look very dismal (if you can't see it already) for prospects of going over $200 for a very, very long time. It would now take over $6m to get back to the all time high, which is about as much as left the bids side over the past 48 hours. Some of that $6m was just cashed out and won't be coming back. Another good chunk of it was already spent in the bouncing around of the past 12 hours. New all time highs are completely out of the question.
I agree. Even the possibility of a brief bull trap spike above the highest value is now unlikely and is becoming even less likely by the minute.
What do you think about the volume? When the bubble burst, the total volume that changed hands was roughly half a million bitcoins. I have not checked the volume since then, but the question comes to mind, where are the other bitcoins?
I guess that a good fraction of the rest will move when the slighly less dumb newbie speculators recognize that the price keeps going down and sell their stash to the even dumber ones, and perhaps that is already the explanation. But I'd still be interested in your opinion.