Spekulatius

Degrees of Craziness III

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
489 2 1
So this is an update to my earlier idea:
Degrees of Crazyness Part I


I have chosen the Log scale again because exponential bubbles are easier to observe in this type of scale.

I positioned the trend lines again zooming in on the charts into 2hr             intervals, except for the older bubbles, because Tradinview does not load so far back, I had to increase grain to 4hr and 6 hr             charts respectively.
The degrees have slightly changed in comparison to the earlier log scale chart I published, because for one tradingview streches or compresses the scales, depending on your zoom level and secondly the latest trendline somewhat changed because newer price action lowered the steep slope of the last chart a bit (2-3 ° degrees).

You can now compare the current rate of price increase with older bubbles or bubble like events like the rebound from 2$ to 7$ or the Pirate Bubble from August 2012. With exception of the Pirate Bubble, which was cut short by news of Pirateat40's closing of his BTCST, for those, that can remember, all bubbles burst around the 80° mark in this chart. Therefore there is some margin for further accelleration towards death zone. How high we go on the last phase of this rocket's flight is the most unpredictable factor here. So far we still fly up on the first phase of accelleration of 65.3°.

Note: The total values in this charts are NOT comparable across charts because they change with a different zoom level and scale calibration. Only degrees IN THE SAME CHART can be compared!

-EDIT-
The final 18hours of the latest Bubble have seen another increase in angle up to 82.3°! from 212$ upwards, after the break above a bearish wedge formation. Comparison to prior bubbles shows an additional thrust upwards each time a bearish wedge (one that points upwards) or a triangle is surmounted. This example further cements the "Speed Limit" of around 80° for bubbles in this particular chart. So far every bubble has collapsed once it went above this critical threshold.
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