Happy to be wrong! I still believe another crash is coming though, perhaps when the last of the GPU/FPGA miners are obliterated by obscene difficulty factors in the coming months.
My prediction, $220 USD on the 27th April, then crash. Hope I’m wrong! Sure looks like an interested party is pumping up the price again, massive trades started about 6pm AEST.
The following is an expansion (and update) to Mike Adam’s 6 step recipe to destroy Bitcoin.
Exactly what comes next I’m not entirely sure. But it sure looks like cattle being herded as traders are goaded to Mt.Gox. Bitcoin is in the process of being de-decentralized. This only ends one of two ways, with the total destruction of the Bitcoin economy, or regulated beyond all recognition.
Bitcoin crashes over 50% just one day after bold public prediction by Mike Adams of Natural News
April 11, 2013
In what has to be the most accurate currency crash prediction ever made, bitcoin crashed today from $266 to a low of $105 in a rapid “free fall” market crash pattern, erasing $1 billion in currency valuation in a matter of hours. I openly and publicly predicted all this would occur yesterday, in both a Natural News article as well as national radio via the Alex Jones Show broadcast aired on over 120 am stations.
But the real story here isn’t that I accurately made this dire prediction less than 24 hours before it took place; the real story is that this crash was almost certainly caused by a covert central bank “stress test” of the pliability of the bitcoin market.
What’s especially freaky about this bitcoin crash is that it followed almost word-for-word from my predicted “recipe” of how the central banks could destroy bitcoin.
According to The Guardian,
Wednesday’s wild ride came as someone gave away thousands of dollars worth of Bitcoins on Reddit, the social news site. News blog Business Insider calculated a Reddit user under the name “Bitcoinbillionaire” had given away $13,627.69896 worth of Bitcoins to Reddit users over the day.
This giveaway is what apparently caused the bitcoin crash. But I have news for everyone. Having now made, on the record, the single most accurate crash prediction ever publicly announced on bitcoin, I think I’ve earned the credibility to tell you more: Bitcoinbillionaire is almost certainly not a friend of bitcoin. He is likely working for the central banks.
How do I know that? Because the “bitcoin giveaway” that crashed the market today was a calculated stress test to determine the “buoyancy” of the bitcoin market. By injecting a predetermined amount of supply into the market and watching the price reaction, it can easily be calculated how many bitcoins will be required to crash the entire market down to a desired price level, causing a runaway panic.
This engineered crash was, in effect, a currency war probe attack designed specifically to calculate what is needed for a much larger attack planned for the future — an attack that will decimate bitcoin and cause long-lasting distrust in non-centralized currencies.
Again, I predicted this would happen almost word for word in yesterday’s article, in which I outlined a 6-step “recipe” the central banks would use to destroy bitcoin:
Step 1) Central banks buy up massive quantities of bitcoin currency, driving the prices into the stratosphere and encouraging millions of people around the world to jump on board the “get rich” bandwagon.
Step 2) Once bitcoin valuations reach a sufficient level of insanity, start a massive selloff by dumping the bitcoins you already bought onto the market, offering them for sale at any price (i.e. sell into falling prices, accelerating the loss in valuations).
Step 3) Watch panic take hold as the bitcoin crash accelerates, ending in a catastrophic wipeout of “valuation” of all bitcoins.
Step 4) Find “victims” of the bitcoin crash who can tell a good sob story for the mainstream media about how they invested little Johnny’s college money in bitcoin and lost it all. Roll them out on CNN and MSNBC where they cry on camera and talk about how they were ripped off by bitcoin and now they only trust the government from now on.
Step 5) Demonize bitcoin by characterizing it as a “libertarian pyramid scheme.” Lash out against both decentralized currencies and libertarians.
Step 6) Once the demonization gains traction, have traitors in the U.S. Congress announce a “Consumer Currency Protection Act” that outlaws non-central bank currencies such as bitcoin. It’s all “for your safety,” of course. Shut down all online bitcoin wallets and exchanges, calling them “criminal pyramid schemes” and arrest a few people using bitcoin to send a warning message to the rest.
A day late, a dollar short? I was looking in to mining about the time these units were available to order, unfortunately Butterfly Labs have Google AdWords and most blogs/forums in a tizz – despite the company failing to deliver a single product after more than 8 months. Had I stumbled across Avalon at that time I probably would’ve thought their pricing was unfavorable (comparatively speaking). Alas the facts today are as follows
- Avalon are shipping
- No really, it’s a real product, people have received them
- At that price, the box will pay for itself in just 2 days of operation, less if the insane value of Bitcoin continues rising
- Their third batch was quite appropriately priced according to 30 days mining (at current difficulty)
Unfortunately, that appropriate pricing equated to over $10,000 – and they still sold out of pre-orders in just 30 minutes. When and if there’s a fourth batch, we can expect pricing well over $20,000, which is just too much of a gamble now with the difficulty rating expected to skyrocket, not to mention the potential collapse of the exchange rate.
A lucky few are getting very rich right now, just as long as they remember to cash out…