Bitcoin was about to break out to a new high on Wednesday at $13,200, but then suddenly sold off 10 percent in about 90 minutes. What was behind this sudden sell-off? There is a fundamental rule in physics known as gravity. What goes up must come down. There is a corollary to this principle in the securities markets. Securities that rise in a parabolic fashion will fall in a parabolic fashion, and it will be even worse when it comes to bitcoin. The reason for this rule is investor psychology, which is often apparent in the technical analysis of the security. Bitcoin is a mania, and mania price behavior usually ... (full story)