I see a resemblence in the last peaks with steep declines, bouncing at around 50-ish at the weekly.
The decline we are now in looks like last two.
Going back to 400 by jan/feb 2014, with an intermediate bounce to ~800.
Next bullrun april 2014 $2250? India pushing :)
Than with the in sight and all the participators all around the world (especially upcoming economics) trying for another uber strong bullrun to 4k - 5k by October 2014.
Only IF demand stays. Break out of the expected Q1 2015.
I expect a new digital currency will be created by institutions (regulated) at around 2014/2015. The Bitcoin has been its succesfull predescessor making the road clear for another era and it will fall bigtime.
First published idea.
Made this chart at 17 dec 2013. Right now, it almost plays out perfectly.
$350-413 at about the 17th of February I said in December.
Its a simple chart, but with complex Elliot and other indicators I come to about the same conclusions.
I am actually amazed myself, almost calling the right day... What a luck!