So what is a bubble? A bubble is when asset prices get extremely overpriced and is trading in a much higher range or at a much higher price than the intrinsic value of that asset. You have the tulip bubble, the south sea bubble, the technology bubble, the housing bubble, there are PLENTY of past bubble. I am here to tell you that this crypto bubble is NOT THE BUBBLE that will inflict the ecosystem of crypto in the time ahead.
Lets take a look at a couple past bubbles and you can clearly see the difference in the charts...
The Technology bubble -
You can clearly see in the chart below the massive run up and the immediate drop, then the bounce where it did not take out new highs and THEN THE CRASH.
The 3D printing bubble...
Likewise, the same story as tech. You can clearly see in the chart below the massive run up and the immediate drop, then the bounce where it did not take out new highs and THEN THE CRASH.
The housing bubble...
Check out housing, you can clearly see the massive run up as the rate of change increase and the immediate drop as the rate of change increases to the downward side. You have some violent moves constantly along the way in a crash and bear market. Alot of tradable volatility.
The crypto bubble?...
Now take a look at the crypto bubble below. You can see the ascend to massive highs and the rate of change increases. Now if you look over the last 9 months you can see the METHODICAL sideways action that is pressing crypto down and down some more. Bubbles, and/or corrections will correct through time and through price. I believe we are witnessing crypto correcting through time and as long as 5400+ holds you should be accumulating the shit out of crypto at these levels...
BUY.
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by heyimsnuffles
Not really into the crypto thing, but steemit sure does gamify writing for me in a cool way...I would like to see some more activity 'round here though.
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Blockchain is still in its infancy. Still much more growth before the real bubble bursts!
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yeah 💥 always on the lookout for the latest snuffles report
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This post has received a 3.13 % upvote from @drotto thanks to: @sbi-booster.
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Very interesting comparison. It makes us think in another way about cryptos. Thanks.
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You got a 4.04% upvote from @upme thanks to @heyimsnuffles! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
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I agree, but just for safety sake, I'm personally not "buying the market" as a whole until we confirm a bull market attitude shift. Then we can avoid the "if 5,400 holds". I believe a lot of money thinks similarly to this. Though on super-dump days I may be a buyer.
That said if a person is 0% invested in crypto and wants to get a start at it, I think these levels are great to begin accumulation.
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Agreed. I think speculators will create a huge bubble, but we haven't really seen the big one yet or the big burst. Technology has just reached scale and there are so many developments being deployed to the masses. Like the dotcom bubble there will be huge organizations that make it through. One thing is for sure - It will continue to be very interesting to watch over the next few years.
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This post has received a 8.64 % upvote from @boomerang.
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puppy i didn't know you were smart!! cuddles and gives puppy a snack .. :p
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What? It looks like all you did was show the logarithmic chart of bitcoin versus the others. No, it didn't crash on a logarithmic scale, but neither did the others. I do agree that when bitcoin does finally crash and a true bubble is burst it will likely move logarithmically because it has been parabolic for so long.
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Bitcoin only trades off of a logarithmic scale, even when you utilize a regular chart you will still see that bitcoin did not have a true bubble rebound by any means and instead methodical selling the whole way down. That does not show true aspects of a bubble considering the violent nature we should be seeing. The banks are just loading up here...
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I understand your point now. Bitcoin itself moves logarithmically, so you showed it on a logarithmic scale. I find it a dubious premise but I understand it.
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I actually believe that the other charts are logarithmically too...it just goes to show a true crash has some major velocity both ways and more to the downside. It is going to be interesting here.
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You got a 2.69% upvote from @oceanwhale With 35+ Bonus Upvotes courtesy of @heyimsnuffles! Earn 100% earning payout by delegating SP to @oceanwhale. Visit www.OceanWhaleBot.com for details!
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Ahh that's a fresh perspective. Thanks!👍
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3D printing is still the future. I wouldn't give up on it. Plus I love how you ended the post with - "BUY". LOL
Thanks for taking the time to put this together!
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