The price of Bitcoin has skyrocketed in the last 24 months, everybody seems to be either buying or talking about Bitcoin, ICOs are raising insane amount of money and I, for once, am starting to get scared about where all of these is going to lead us.
However, I do not want to contaminate your answers with my crypto paranoia, I prefer to appeal to the conventional wisdom and ask my followers:
Absolutely yes, bitcoin is a bubble. All the signs are there including lots of people trying to convince themselves that it's not a bubble.
Bubbles are not necessarily a bad thing. dot-com was a bubble. microcomputers were a bubble. biotech was a bubble. railroads were a bubble. The Chinese economy is a bubble and has a boom and bust every three years.
Bubbles are great things if it encourages people to get into something useful. There is not a single technological breakthough in the last 100 years that has not caused a market bubble.
So yes bitcoin is a bubble. The bubble will pop. People will lose their money. But then the life will go on and bitcoin will change the world.
I'm going to put some of my money into bitcoin. I'm expecting to lose it when the bubble pops. However, this is just tuition for learning about how it works.
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Well said!
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Are you serious? Bitcoin is not even close to Facebook value, which is basically a chat platfrom. Bitcoin marks a monetary revolution. It has been undervalued for so long. But in the end it is a Internet monetary ecosystem. Youtube for me shows the growth of the Internet quite well, where videos hit more than 2 Billion views already, is this a bubble? The Internet exceeds everything we have seen. So will Bitcoin. It is not a bubble, it is just starting to show (still undervalued) what the global network is capable of.
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My vote doesn`t value a lot but I upvote your comment cause I think your perspective so real and I never heard about it. Thanks for sharing.
Forget it, my vte was significative, I just realized that the payout passed out!
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I feel like this is just the beginning and there is more more to come . Bitcoin has a lot of potential and since joining the crypto world , I have only seen Bitcoin that has so much potential it is a continuous cycle
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No Bitcoin isnt even close to being a bubble. There is so much development going on this blockchain it is amazing. It still have the most developers and the biggest name recognition. That attracts a lot of interest.
We are going to see the bitcoin blockchain continue to grow which adds value to the token. Also, once Wall Street starts to enter the market, you will see a ton of new money come in.
Bitcoin will reach bubble stage yet it isnt even close to it yet.
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Yes I tend to agree, I would say this is the start of a bubble.. but a bubble it is!
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It is always interesting to ponder what a "bubble" is and what people mean. What are the parameters that define "bubbles"? An asset that is overpriced I would say is central. Hence we get into valuations which is always a difficult art. Then we move into the question of how much overvalued does an asset need to be for bubble consideration? 10%? 25%? 50%?
People were claiming that BTC was a bubble when it passed $1000...and $3000...and now $7000. Were the first two wrong? Or were they right and that was the start of a bubble. By that view, BTC can be in a bubble from $1000 to $50000.
Another interesting aspect to all this is bubble is a term used in financial arenas, not in technological arenas. Bitcoin is a technology....it is IT derived. Hence it follows the technological S curve as opposed to financial charts. I know people are trying to make the correlation (like with the dotcom boom) but it really might not apply.
Blockchain technology is about to explode. We are at the beginning stages of a technological revolution that will change many facets of society/business. Bitcoin is a central aspect to all this. There is still more development taking place on bitcoin than any other single blockchain. And the publicity bitcoin gets from the token only draws more developers and entrepreneurs to the chain.
In the end, will the price of the token pop? I dont know. It seems anything Wall Street gets involved in gets over heated. However, over the next 5 years we will see a ton of innovation from bitcoin (and other blockchains).
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In my opinion there is no bubble in Bitcoin.
There may be a bubble in the future?
There may be a bubble in the future when the percentage of the population that uses Bitcoin increases exponentially. For me with a percentage of the population so small we have not even begun to see what the ceiling of Bitcoin can be.
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I genuinely don't think so. The long term trend is upward. I think we have a long way to go before we reach peak. If we do that is. What I think, is that we are seeing lots is mini bubbles within our upward trajectory.
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@chitty,
With this price up, this is a bubble for me! By this statement I didn't mean BTC is a bubble, I am talking about the current market price and rise seems like a bubble to me! Definitely there will be an air drop!
Cheers~
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Bitcoin is a Bubble thats made with Steel. Sure there will be a major correction after the Segwit2x and you can see bitcoin fall as low as 4000 but soon it will be back on the horizon. Remember there are only 5 Million bitcoin left to be mined. You do the maths!
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La movilización de capitales que ha pasado de 47% de dominio del mercado de criptomonedas al 60%, para mi si una burbuja que estallará cuando las grandes ballenas de capital decidan recoger sus ganancias.
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@chitty - Sir BTC is not a bubble but people who take decisions about BTC (People who made forks & etc) is making all bubbles of it..... Now it looks like a bubble.... Coin went too high in a short time period.... But I live it Sir.... <3
To get more audience, I wish to ReSteem your post.
+W+ [UpVoted & ReSteemed]
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Is there something else beside BTC and GOLDMONEY
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mmmm Steem?
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Ray Dalio saying that it is a bubble, but since we have new higher highs and higher lows on weekly chart, that means trend is up, which means Bitcoin will be higher in the future. My prediction is 10K.
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Bitcoin is most valuable cryptocurrency module in block chain system.Bitcoin prices rise up and hopefully wait hodl. You`re nicely analysed here. The current situation bitcoin going straight up.its over $6000.
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Well let me ask a question: how long does it usualy take for a bubble to pop?
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Well the real state bubble took around 8 years?....
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Great information and useful crypto survey.
Upvote Resteem
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Thanks
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excellent post and good analysis in bitcoin.. good job @chitty... i like your post.
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Bitcoin...price is rising as like as jet aeroplane.
Outstanding perfomance for bitcoin...
Thank's for sharing
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bitcoin price:7000$
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Great information,,,,,,,,,,,,
Bitcoin is most valuable.......thanks for sharing
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Bitcoin itself may be in a bubble -while understandable the reserve currency of crypto- bitcoin is slow, ancient and no longer has the best technology. All of Crypto -including the alts- are undervalued. A few months ago all of Crypto had a market capitalization about equal to Home Depot. The market capitalization of Home Depot represents all future good it will do to mankind; I think there is a lot more future good from the cryptos than from Home Depot.
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muchas gracias por la información gran post.
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time will show :P
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