You can't have all dump and no pump. Ponzi schemes won't continue to work if it is all dump all the time. The guys who took all that money from innocent people need to use a tiny fraction of their real money to start another rally or else they will not be able to do this to people again for another year.

It looks like the stolen bitcons have disrupted opportunity to artificially generate a double bottom confirmation at around $450. Who knows were the first bottom is now? And then it will need a rally above it for some time before it can bounce off that bottom twice. The people who took money from everybody last year can then use a tiny fraction of it to run the price up to $450 and that will be a double bottom confirmation to send it back up near $700 again.

If it is $200 and I don't want to buy it, I certainly won't want to buy it at $650. I don't think that high will last very long when it is hit again because everybody knows there will be another slaughter to follow. I think the bubble has at least one more pump left in it because there are alot of angry people who are broke now and need to sell because they can't afford to buy more again. When it happens, the next wave of new bitcoiners will lose their real money as the last wave cashes out to recover what they can.

I think one more rally to $450 can be made to happen but it will be thin and that is when the bubble will pop.