Nah we need news to move it like that.
no terrible news = no silk road type crash before the bubble
When I try to see the bull case, I get nervous looking at how much BFX longs there are, and how much BFX pushed this massive rise on Stamp (probably on margin). Those have to get closed sometime.
And where does one acquire information on the level of BFX longs?
There has already been a lot of profit taking on Bitfinex. Both the $680-$620 crashes were Bitfinex inspired with each of the red 4hr candles over the price slide being 15K BTC strong.
Their equivalents on Bitstamp were 11K, and then 9K, but then much of this volume could also include Bitfinex volume.
Longs rose from a bit over 20 million to over 22 million USD since that test of 615 level. So much leverage. If we bubble up, it's all good. If bulls keep getting rejected.....long squeeze.