Bitcoin Crashes 70% In Four Months

Back in November, the day bitcoin peaked, I compared it to the historic South Sea Bubble - Bitcoin Pushes To $1,240 Taking A Ride Out To The South Seas.

The bitcoin chart aligned perfectly with the South Sea company, and it has followed its trajectory since with a 70% collapse in just over 4 months (bitcoin is at $360 as I type).

There will be many investment manias used to document the most recent Fed induced hysteria from 2009 until the current bubble/mania has subsided, but I think bitcoin will likely be ultimate example of insanity.

I have done my best to document every possible example of the sheer madness that has taken place (and is still taking place) over the last 24 months as everyone around the world has moved to the point of crystallized belief that printed money and government debt create both wealth and prosperity.

I hope that people will look back and learn from this period but based on what we know of human psychology that is very unlikely. Investors will panic and promise to "never buy again" after the coming collapse, and they will only return once we reach the next peak of euphoria.