You are working with a limited view of Bitcoin price history if you think there have only been two prior bubbles or peaks. There have been something like 6 Bit

You are working with a limited view of Bitcoin price history if you think there have only been two prior bubbles or peaks. There have been something like 6 Bitcoin 'bubbles' and busts since 2011. The very first major bubble is attributed to Senator Chuck Schumer in June 2011 advertising to the world that you could buy drugs with Bitcoin on silk road. That took the price from $1 to $32 before crashing. http://www.reuters.com/article/2011/06/08/us-financial-bitcoins-idUSTRE7573T320110608#y6ffPlSzVU9XKRxc.97 http://www.reuters.com/article/2011/06/08/us-financial-bitco... http://www.forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/ http://www.forbes.com/sites/timothylee/2013/04/11/an-illustr...