2011 BTC on MTGox went from about $0.75 to $31.85, then dumped to $2. That's a pop of a bubble in price
2013 BTC on MTGox went from about $13 to $265, then dumped to $49. That's a pop of a bubble in price
Bitcoin can go to zero as well, if it fails to become the dominating standard of crypto-payment that many foresee.
I, for one, anticipate that the deflationary bias that made this extreme rise in value possible in the first place will also be what kills bitcoin. It will never come to work as a stable unit of exchange with that design. The crypto-coin principle will be here to stay though, no doubt about it.
I agree with most bearish technical analysis going on. But my guts tell me there could be something different going on here again, as it did in 2013.