I've been in cryptocurrencies since July 2017. Since then I have been following the development and was carried away by the enthusiasm. But after a while I got doubts and informed myself about pyramid schemes. The criticism was blocked by the crypto enthusiasts. I was divided, which party is right? A few days ago I talked to a friend of mine, he's a miner, I argued with him whether we were in a hype. To support my position, I searched the internet for ways to recognize a hype. I came across Jean-Paul Rodrigue who created a bubble formation chart.
I also found an article on Forbes :"Bitcoin May Be Following This Classic Bubble Stages Chart" (2013). The article also referred to the chart of Jean-Paul Rodrigue and indeed it has developed exactly as it was said before.
If one compares the chart with other charts, such as the dotcom bubble, one notices that pretty much every bubble follows this pattern.
Now I'm pretty sure we're in a bubble/hype.
But I do not want to conjure up the collapse of the crypto currencies. I would just like to point out that at the moment there is no good time to invest and you should wait for the hype.
Thanks for the great insite .... The most important factor is time bcuz what is relevant to you a long 10 year or day to day - month to month basses.
A 10 year if you bought your self some btc when it was 3 bucks for sure what all you care about is to cash out at the top of the hype that is if Btc still is volatile and not become a means of all day transaction.
we are in the Awareness Phase - 500K BTC is coming
In the long run, it may even be right. But in the here and now we are in a hype. Why should you invest in a hype, if you can get into it at a reasonable price? Bitcoin has been in a hype several times, I think that such a new market is prone to bubble formation in its early stages.
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