Chart(s) of the Day: Bitcoin Soars 50% in 48 Hours…Then Crashes

bitcoin USDAfter soaring in the aftermath of the Cyprus depositors confiscation, Bitcoin has gone parabolic, up over 50% in the past 48 hours to $150…and has subsequently showed signs of a bursting bubble, as it has crashed to $120 this afternoon.

Notice that Bitcoin has returned nearly a 20 bagger in under a year:

bitcoin USD

This morning we looked into whether there was any good method to short Bitcoin…but it appears the bubble has already popped, as viewed on the 1 day chart:

bitcoin collapse

And a longer term chart courtesy Max Keiser:

bitcoin

An intra-day swing from $115 to $150 and back to $120 again.  

One day a similar exponential move will occur in gold and silver as fiat currencies burn and enter their final melt-down.

 

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