Bitcoin bull trap snapping shut

Here’s the chart:

And the analogy that matters. You are passing through “return to normal” on your way to “fear”, “capitulation” and “despair”: 

It’s not complex. BTC is simply in the process of being shut down:

• ATO warns
• Google bans ICO ads
• G20 to apply AML to crypto
• Mt Gox liquidation

It will intensify and BTC will all but disappear. Nations own fiat and they will defend their monopoly to the death. Allianz agrees in a new report:

• Between December 2017 and February 2018, bitcoin’s price fell by around half, but this probably isn’t the end of the bitcoin bubble
• Bitcoin meets all of the essential criteria for any asset-class bubble, including overtrading, a lack of regulation and the potential for swindles
• Bitcoin has no intrinsic value: it is a claim on nobody – unlike sovereign bonds, equities or paper money – and doesn’t generate any income
• We don’t view bitcoin as a currency due to its high transaction costs, tremendous price volatility and inability to be a true store of value
• Despite our concerns about bitcoin, its underlying blockchain technology has merit – particularly its ability to reduce financial-transaction cost