Econintersect: How much did the S&P 500 fall in the crash that bottomed 09 March 2009? 57%! How long did it take? 16 months.
How much did the Nasdaq Composite fall in the dot.com crash? 75%! How long did it take? 27 Months.
How much did the Dow Jones Industrial Average fall in the stock crash of 1929? 89%! How long did it take? 33 months.
How much did the bitcoin fall in the crash of April 2013? 80%! How long did it take? 2 days!!! Now that is a real crash. But there has also been quite a bounce. Click on graphic image for a full picture.
In the 40 hours since bitcoin hit a low trade of $54.25 in the noon hour Friday 12 April 2013 the price has risen as high as $105 in the current hour (4 am hour 14 April). That is a gain of 94% in 40 hours. These are numbers worthy of a Lazarus. Here is the latest chart as this is written from Bitcoin Bull Bear. Click on the chart to see the latest live chart.
This chart has some encouraging indicators for bulls. The four hours with the largest trading volumes were all green (up), although the most recent was a spinning top, just barely bullish. The price has returned to the vicinity of the previous minimum around $100. To remain bullish there must be follow-through to close above $120. If the price turns down before then a pattern of lower highs and lower lows would be started, which is bearish.
But, if you don’t like the chart and the rest of April is like the first part, just wait a few hours – the entire picture can change.
