the previous performance doesn't reflect the future performance. Nobody knows how Bitcoin will perform in the future. That's a misunderstanding by new traders...

"Look Bitcoin was at 1200$ now it's 200$ It's cheap!" This has been said since 800-600$ (and 500$,400$ people even called the bearwhale on Bitstamp stupid for selling 30k coins at 300$...

Bitcoin could go below 100$ and hurt a lot of people even more. We have to understand that the value of Bitcoin is mainly currently speculative and already bubbled and lost the speculativ aspect because of that. It was pumped and dumped and a lot of "Bagholders" are left that will always push the price down once it reaches a new high. This wasn't the case at th run to 1200$. Sure it's possible but that we bubble again at some point. But I don't think this will happen anytime soon. At lot of money would need to float in. But without regulated big exchanges we won't see this big money running in. People would be stupid to bring so much money on any unregulated exchange just to buy Bitcoins. I mean how many hacks and thefts did we have? How many hacks, thefts and loses are unknown?

We had a run on coins mainly driven mainly by everybody on the word interested in Bitcoin. China was leading this because they have in general very few stores of value and Bitcoin was a good option back then. But China isn't supporting bitcoin in any kind but instead banning the use of it. So 1,3 Billion don't have it easy to get bitcoins anymore. Meanwhile over 1,2 Million coins have been mined which have also have be be bought on top.

The Market tends to do what hurts most people and most people would get hurt if the price falls further. And since bitcoin is still far away from being adopted in general, I don't see Bitcoin rise any time soon. We will break the big triangle downwards and see the despair phase as it is usual in bubbles before getting any substantial growth that isn't a pump and dump.