2011 we had a double bottom 4 weeks apart.

I don't believe we can be such epic anymore, due to the emergence of professional investors. But you never know..

Imagine it - after this bloodbath, we rise to $600, and then decline to $330 in MAY, even lower than today. Surely Bitcoin is doomed!

(Last time it was not, rather we saw a rise from $2 to $266 without significant declines, this time it would translate $330->$44,000 by the end of 2015).

Bitcoin price behaves in log-scale, which means that for every 1-point move down, you lose only 90% of your money, but every 1-point move up, you gain 900%. Therefore, it is rational to be long if you can derive more benefit from multiplying your wealth than you suffer from losing the invested part of it.