With Bitcoin prices rising to all time highs, one question looms: Is Bitcoin a bubble. Media has been hammering at this issue, and google trends for "bitcoin bubble" have increased almost 500% over the past month. In this video, I will example some potential triggers for a Bitcoin Bubble and reasons for future growth.
*** This is NOT financial advise. Bitcoin and Cryptocurrencies are highly volatile. Never buy more than you can afford to lose***
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Bitcoin is a bubbel ... ETH is the future :D
I have to agree. Right now people are only buying bitcoin they heard the price is going up. Ethereum has some serious tech behind it. We will feel it in the future
I don't agree. Ethereum is a platform for smart contract and token programmation, with a very different roadmap from bitcoin. ETH is not designed for be a money and is blockchain is used to support token economy, not users payments.
So you can transfer value using ETH... But this ETH's main purpose
Would've been lovely to see you two vote for others' nice content below instead!
um ok
Interesting...we must be careful
I would not say bubble, BTC is here to stay in one form or another for the long run. We are due for an actual week over week correction though..
https://steemit.com/bitcoin/@pawsdog/12-3-2017-the-market-view-and-trading-outlook
https://steemit.com/bitcoin/@pawsdog/12-4-2017-the-market-view-and-trading-outlook
@pawsdog
@luisneira Share your votes with those below?
When Bitcoin is at 30k, then we can talk about bubbles.
You will die in pain, alone.
When Bitcoin's bubble inflates to 30k, you'll say "When Bitcoin is at 100k, then we can talk about bubbles."
Just to clear the air, I have a vested interest in a ridiculously HIGH BTC Price.
I have substantial cloud hashpower and the higher the BTC price, more FIAT DIGITS I make.
With this in mind, I am sniffing out a major, catestrophic collapse of the entire crypto market in due time.
The amount of fake, counterfeit currency units entering the exchanges is going to make headlines and create havoc.
Just letting you all know THAT YOU FUCKING HEARD IT HERE FIRST!!!
Short-term bubble yes. It had no proper correction when it hit recent bottom of $1800 after reaching $5K. There can be correction to $5K, how long it will sustain this $11.2K. Also, technically, there are other coins that has better utilities and fundamentals, they need some love form BTC investors/
Bitcoin had come and will go also. But it will fulfill its function as a first mover. It already don that!
But I bet on DPOS algorithm blockchains. They have really big tech potential.
My post https://steemit.com/cryptocurriences/@tombort/bitcoin-is-on-olympus-but-what-hat-come-up-must-once-come-down explains in more details why BitShares, Steem, EOS and other DPOSs can be the next runers in the crypto relay race.
Please review and coment.
Upvoted this post, its coool!
Bitcoin has momentum going strong. I wouldn't be surprised to see a trading correction but not a bust. Too much big money coming in for games not to be played.
great content as always boxmining
Good post.
Bitcoin is a topic for discussions for a couple of years yet.
I would like to say that this is justified. But - the current fee, delays ... It's killing me.
I switched to other cryptocurrencies. Fast and comfortable. But nobody talks about them yet, heard about SmartCash? It's worth it. For me it's better then bitcoin. And for many.
The Wall Street Journal is not enamored with Bitcoin... yet.
https://steemit.com/cryptocurrency/@xsid/wall-street-journal-decries-bitcoin-saying-no-one-uses-it
Of course. Its current price growth is spurred by previous price growth, not actual use. Its use cannot grow since its blocks are full and its fees are prohibitively high. Bitcoin maximalists have resorted to the preposterous argument of Bitcoin as a digital store of value when, by definition, that's not how stores of value work. You can't just proclaim yourself one, it's built on a history of purchasing power stability. People buying Bitcoin now have this contradictory thought in their head: "I'm going to buy this digital store of value, and it's going to make me rich." The reason for the purchase is a weak rationalization, the expectation of further price increases necessitates a bubble. Textbook irrational exuberance.
IMHO, I don't think the cryptocurrency market is a bubble, at least just yet. The so-called 'dumb money' might be entering the market right now because of the news coverage regarding USD10,000, but any ensuing crash will not last more than 2 weeks.
But bitcoin might stall if the scalability issues don't get fixed & I don't see the lightning network as a good or elegant solution.
In the next few months, users will experience many waves where the mempool is clogged, the fees go up & confirmation time takes many days, and they will get fed up.
So if the bitcoin price goes down in some semi-permanent fashion then it will be because the crypto market share is eaten up by the other coins.
It could be because of ethereum, bitcoin cash, litecoin etc.
I am Megatron, the BTC train has left, now get on the Tezos train and be rich you fools. ...
Bwa ahah ahahha ahaha
https://tezoschain.io/
This is a good response. There is too much big money coming in at one time which means games will be played. I hope the big time bitcoin money has the financial traders loose based on their unbelief coming in.
Interesting topic it also roamed in my class at school and classmates started to talk about it without even knowing much about the whole structure. With the $10.000 mark down, the attention increased a lot indeed and more and more people seem to be interested which is nice I guess. :)
yup. it takes a while for people to notice, especially for topics like this. Even if the ywanted to learn about bitcoin.. where do you start?
School, What age group? Bitcoin has made itself well known in college, just curious what level you’re at. Thank you. Once BTC has made its way to elementary school and Bitcoin is being swapped back n forth with the lunch lady, I think we can officially say “it’s a wrap”
@dandays I'm nearly finished and currently going into the 13th class of a highschool. Next year are the final A-levels exams for me. ^^"
It’s exciting to learn how educated the teenagers are when it comes to Bitcoin. Keep on keepin on! We’re gonna need every generation onboard. 🚀
Bitcoin has seen many videos with you no other bids match, you have spoken very beautifully and what is beautiful
good for @steemit
Very positive post Michael, thanks for this nice summary! I looked at the historic bubbles for some facts and figures. Check it out here: https://steemit.com/bitcoin/@digitalisbetter/how-big-is-the-bitcoin-bubble-you-need-to-know-this
The total mined bitcoin according to blockchain total mined are 16,713,925 that means already half bitcoin are mined 2018 is the year for bitcoin we are expecting bitcoin to be at least $ 40,000 or more which is possible. The high it will go the better it will become.
Of course it's a bubble, with that ancient tech.
But not every bubble has to pop, we could continue like this for a very long time.
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hey, truly think that the icos are the bubbles , but as for bitcoin you may never know.
There is only a big ol' bubble of FUD! :)
Every single market turns into a bubble...markets work on human emotion which is irrational.
Very interesting points! I think there is still more room for bitcoin to move tho, maybe 15k by the end of the year. Anyways, check out my previous analysis where I predicted bacon will hit 12.5k!
https://steemit.com/bitcoin/@cryptofrombed/bitcoin-hits-11-200-what-s-next
Great video man! Was on the edge of my seat hoping you were going to mention Vertcoin and Ark when you talked about altcoins, but alas! I understand you're sticking with the top 10.
Whether an asset is in a bubble or not is a matter of perspective. Only time knows the answer. Many altcoins are in a bubble just as many dot com companies were in the 90's internet bubble. Some had no value, others like Amazon were just in their infancy in a future world. Buy me some of that bubble! Some crypto currencies may be in a bubble, but Bitcoin being the standard bearer of crypto currencies, buy me some of that bubble. I look forward to the future.
It might be in a bubble. However, the question is if the bubble will burst and if so, why? Let's assume there's a reason for the bubble to burst, some banker saying something in the news or some fake news about many governments trying to ban it. That may trigger a selloff and during a selloff some people will panic sell.
Now luckily there's some self regulated mechanism in place that will prevent the consequences from becoming too bad which is:
So to summarize, yes it may be in a bubble but there's nothing indicating that the bubble will burst. This year has been full of bad news with some impact on the price but that hasn't stopped the price from going up 1000% over the year.
Thanks for sharing your view! Also see my post: https://steemit.com/bitcoin/@remkostar/bitcoin-rightly-compared-to-a-bubble
Interesting!
RSI levels are too damn high to take a safe long position on Bitcoin right now (although there is still room for the price to go up to a RSI level around 95. A major correction, likely going to 7000 euros (sorry, I am not working with dollars) or even to 6500 euros will probably happen soon. The price will find strong supports at those levels and only when it breaks through 6500 there will be a real mess. I am expecting the price to return to a bullish movement from those support levels though.