It might not repeat, but it will rhyme...

It's not about new money. It's about what the current holders of the money think the value is. It doesn't take just new money to send it up, it takes the current holders to decide the value is too low I don't sell at this level.

The more it goes up the less likely current holders are to sell. Everyone watching Bitcoin knows its low. There's a few short sellers but they are getting less and less convinced as you can see by the slow down in downwards momentum. And in fact Friday there was a big short cover as you can see by the jump.

So now as we start hitting the levels going up more and more people are going to cover driving the price up and less and less will be selling, they'll be holding out for higher prices.

And we have the next leg up. And historically it will be maybe 1000%, maybe 2000% up. I think you'll find sellers thin on the ground once it's confirmed we've turned. I think that will be at $12 000