Quote from: AJS_ on April 13, 2013, 11:10:34 AM

Well IMO we are either at beartrap or despair, but as others have said this graph can be really applied to many things and its relevance to BTC has to be questioned. The main problem being we haven't been through all of the background phases of the chart i.e investments, public etc. Which if you go by my guess' means that we are at beartrap, but the pattern of the line looks awfully similar to what we have witnessed meaning we could be at despair. Who the fuck knows where we are jumping from 90-100, but if you take either of those predictions then at least the only way is up eh.

If you are going with this chart, I wouldn't pay too much attention to the stuff in the background. That may be typical for a stock bubble but isn't necessarily a requirement for things to behave like that. You also have to take into account the tendency of the human mind to find patterns whether they're there or not. There were several bear traps, of various sizes, on the way up and the price was definitely not a nice smooth line. For me, I started getting concerned when we started climbing above exponential growth. My only two regrets are that I didn't cash-out my original stake at the top and now, that I put a few btc on bitcoin-24 which I managed to parlay a little higher but now is apparently gone (I'm assuming forever)