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Just because the price increases rapidly does not mean there is a bubble. A lot of people are talking about the crypto bubble bursting. Let’s consider one aspect for a bubble to exist, saturation. During the house bubble many people were buying multiple houses which they couldn’t afford. The market was saturated with buyers, EVERYBODY was jumping on the train. The housing market crashed, the bubble burst.
The US bitcoin market penetration is 0.01% and China is 0.001%?
https://infogram.com/bitcoin-market-penetration
It’s impossible to say there is a bubble when anybody can buy bitcoin and 99.99% of the population have not. The buyers are lining up and will do for some time.
Not a bubble, just a bubble bath :)
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Bubble's always burst..
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Let's hope this one does in about 2027!
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I'm waiting until 1st August to see what direction the market takes before trying my hand at investing in crypto. From what I've seen, cryptos are very robust when there are changes or challenges ahead.
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The problem is the ICOs. The ICOs fever is clearly a bubble only waiting to burst.
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I agree the ICO bubble will burst once most people don't get the returns they were expecting. When this happens they will stop buying ICOs. Ethereum will most likely get hit harder than Bitcoin.
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I've heard the term - but what is an ICO?
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ICO stands for Initial Coin Offering. Companies offer the public to buy coins prior to release to the exchanges. They generally go up from there and then the investors dump their coins to get their cash out. But not always, some crash straight away as they were overvalued.
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btc will not go sideways !
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Simple supply and demand. As long as there are buyers the bitcoin price will continue to rise. Alot of new money hitting the market looking for long term rewards, like 5 years. They don't care what the short term price will be.
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Well spoken! I also like this infographic from money visualist. It's a bit old because BTC represents only 5 Bn, but the message is still the same: compared to Fiat currency bitcoin enormous upward potential!
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I hope bitcoin will continue to bubble :) but the real thing is that as long as it is a cryptocurrency its price will always be volatile
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Which is perhaps not a bad thing for those looking to make a quick buck. At the moment, if there is a big drop in prices, they tend to quickly recover. Bitcoin seems to have recovered most of its value in the space of just 3 days.
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