Client sent malformed Host header. In the absence of the most complete historical price chart, namely that of Mt. However, there is no conclusive sign that bitcoin price august 2012 decline since December 2015 is over.

Until this event, expect ongoing correction to be in force. 600 in strong upward waves will confirm that trend has changed to the upside. For months, traders and Bitcoin enthusiasts have expressed their puzzlement over the fact that the Bitcoin price has been in continued decline despite receiving so much mainstream attention and institutional interest. Then the deplorable collapse of Mt. Gox was given as a reason for terminal collapse in mid Feb. The reasons may be many and arguable, but one thing is for sure: The price chart never lies.

The Daily timeframe chart below shows price history since August 2012 in log format. Before reading the analysis, note that Elliott Wave labels have been annotated to facilitate references to price points. Also, trendlines of significance have been drawn, as well as, horizontal time divisions of approximately seven months’ duration. The time divisions are of the same duration and match successive market tops exactly. 100 on the Mt Gox exchange.