Bitcoin Forum

Hey Guys, I just came across the following tweet regarding Bitcoin. https://twitter.com/Elite_89/status/944746253929336832 (https://twitter.com/Elite_89/status/944746253929336832) I am not good at reading charts. If anyone is good at reading charts, can you please help me out.
 Bitcoin Bubble (https://imgur.com/a/Oygvc)
https://imgur.com/a/Oygvc

What do you mean, you are no good at reading charts? It is pretty obvious to anyone that the price of bitcoin has gone up massively and historically, what goes up - must come down. There is no special formula that will tell you when the bubble will burst, however the recent massive drop should be a grave warning sign to all speculators.

Hey there

Nobody knows for sure. Maybe yes, maybe no. Maybe we are in fiat bubble which is going to burst... who knows?!
Anyway, soon we will see if it is bubble or not

Whether or not you're good or bad at chart reading or technical analysis, it won't do crap if you don't know what a market bubble is.
Sure, bitcoin has crashed numerous times in the past(as well as recently), but what happens after? It recovers almost immediately. Is it a bubble? Probably, and the bubble has popped a good number of times already.

Yes we are in a bubble and sometimes it burst, but we will recover soon

For me the bitcoin is not Bubble because I've proven myself that this way I earn money. So I have faith and trust in bitcoin.

The bubble has popped several times over the past few days. It went from $20,000 to nearly $10,000 and then to $16,000. Now it is back to $13,000. This was guaranteed to happen because there are so many new people in the market and the price rose so quickly. This is a good thing. This is just market correction. The the price will stabilize soon. I think we will see $20,000 and above within the next month or two.

With digital money like bitcoin it is hard to understand for some but bitcoin certainly has some intrinsic value as the feature of sending any amount of money to anyone in the world alone is so powerful and backed and made possible by the blockchain.
BUT
Bitcoin is very attractive to speculators who drive price up like crazy (noone can argue with me that bitcoin is worth 20k USD in its current state). I think the core technology of bitcoin is worth less than 100 billion USD marketcap for sure. Though I am not saying that the price will not keep rising in fact I think we can go even beyond 100k USD but everything that goes up must come down at the same pace. (Look at some Pump and Dumps or insane bullruns with a correction, they usually happen equally fast).

Bitcoin has significant infatructure built around it but don't forget that there are even altcoins that can do all things that bitcoin can or are even better than it. (Privacy, tx/s, security, waste of energy, etc.)

The Cryptomarket will in my opinion reach a cap of 1-3 trillion USD withing Q2 of 2018.

A market correction is clearly not a bubble popping though, when the bubble really pops it is going to be nasty but I believe we still have much more room to grow!

You should make your own analysis bro. Just because someone said it's a bubble doesn't necessarily mean so  ;)

People are saying it's a bubble since the early days, there is a nice tweet I have to find... anyway Bitcoin had at least 5 bigger corrections only this year, followed by higher high.
Always do your own research.
Merry Christmas.

If we are indeed in a bubble right now - then I am afraid that Bitcoin might not recover that easily and might be crippled forever.
Ther problem with Bitcoin is fact that we will never know for sure what is going on as the value is based purely on people's view and demand for BTC.
Anyway, follow the twitter of that guy from the Op's posts - apparently he is giving out 0.0002 BTC to everyone :)

Stop shitposting noon people talk about this bubble nonesense so often. There is no such thing as a bubble.


Well in that case your life expectancy s a bubble too so then why worry about bubbles? Talking like bubbles is what people with their heads n the clouds talk about.

If you start talking about bubbles and are so afraid then just give up and sell all your bitcoins.

bitcoin bubble. hilarious

bitcoin shoe
bitcoin apple
bitcoin sex
bitcoin bitcoin
bitcoin pneumonoultramicroscopicsilicovolcanoconiosis

you see anyone can do that.

just because a word exists, it does mean that attaching it to another word will give it meaning.

and i would think that a term like "* bubble" is only valid when it is used to describe a time(in the past) has reached a point where it pops which means its run has come to an end.

Bitcoin is something like a bubble, but still building.
And price change is somehow very influenced from bitcoin holders
in the east of the world  ::)

Hello.

Nobody knows for sure.
But i think yes. 8)

It's hard to tell if the bitcoin is in the bubble. Even if the value of the bitcoin fell, I trusted him. It will definitely recover and the price will stabilize.

Bitcoin bubble? Nobody knows what will happen next. We have seen that the price went down a couple of times in the past but it has recovered tremendously at 4th quarter of 2017. Who knows what will happen in 4th quarter of next year. I doubted bitcoin at first. I invested a lot last 2016 and withdrew it at the end of that year. Now, I regret my decision.

pop

Which bubble? I have honestly lost track

I do not understand why all you guys call this bubble? If you cannot figure out the value of the BTC, then how can you call it a bubble?

Time will tell. Any invention must be self-evaluated. Who knew 50 years ago that the Internet will be so popular. If ingenuity is successful, then there will be success.

there was a nice info graphic somewhere that shows how much fiat is involved in different companies and technologies. all was drawn as pink bubbles :-P the point, however, was that compared to other entities there is still not much money involved in cryptocurrencies and since they have the technological ability to attack world-wide authority-based finance I don't see why it should be tremendously overvalued. nevertheless, I'm sure  bitcoin won't stay the top coin forever, too much progress was made since it's invocation in 2008. for example, IOTA is based on the tangle instead of the blockchain and is therefore able to perform feeless and fast transactions, as well as being prepared for growth since the system becomes faster the more people and machines use it!

The crypto bubble is tiny compared to the whole banking/investment industry which it will likely replace down the line.

To compare: Gold has been in a bubble for thousands of years.

I think that cryptocurrencies truly are in a bubble. The thing is, noone can predict when it will burst. It maybe some months, but maybe several years. We had a number of such cases in the past (like the dot.com bubble), and it will always happen as long as there is a total excitement on the market. But this doesn't mean that the bubble will burst and cryptos will be buried in history. We may have a bear market for some time but it will gradually develop and reach new highs. I personally believe that blockchain is the technology of future and it will 100% change the way we live.

Now many people believe that the Bitcoin is full of bubbles, they have their own reasons, but I don't think the currency, now found that block chain got great development which is the trend of history, so don't worry about it

There are much bigger and dangerous bubbles currently bro, are you aware of that? just check USA or Japan debt, those are like close to 200 Trillions and growing every second we talk!!! Bitcoin in comparison it's a still a tiny cute small baby, keep that in mind, to the moon! :D

Everyone thought it was a bubble at $1k, they thought it was clearly a bubble at $3k... Now look at it.

And still a lot of people guess it's a bubble. Nothing changes really.

nope, it is not a bubble, it is revolution folks.

I hope it's not a bubble. The people who say it's bubble are wrong but that people who says it's a future are wrong too. It's a beginning of something new but that never would become an everyday thing.

It is not a bubble and whole experts will see it in coming years when bitcoin will grow and still offer the same things like now and even more.

Cryptocurrency in general is a fairly new concept, I dont think this is a bubble.... I think this is just the beginning of crypto. I think that BTC and all other good coins will probably increase in value. The mass adoption have only just begun. So I have a hard time believing this is just a bubble. However I'm far from an expert so I really have no clue. But if I am right this is just the beginning of something huge, decentralized currency's that truly belong to those who own them. ;D   

They are repeating it after some of those old farts from Wall Street who made some decent deals before the first white paper was published.


Exactly. Some people seem to think they will buy cryptos, wait for profit, exit to fiat and it will all be fine at that point. No, it won't. You are exchanging independent, but scarcely accepted currency for another one that is still vulnerable, centralized, but widely accepted. You're exchanging one token into another, fiat is by no means better or safer. The main difference is that with crypto you are on your own. Nobody is making promises to you or holding your hand, giving you a false sense of security.

Ask yourself: how many bitcoin payments are being done daily ? Where can I pay with bitcoin ? Just today in my country (netherlands) a big bitcoin test has been stopped. In the city of Arnhem more than 100 shops had joined to accept bitcoin payments  but only a few thousand EUR in BTC *per month* was paid by clients (nobody uses it). Besides that the transaction costs had become so extremely steep that they had to stop the test and the shops are now no longer offering BTC payments: https://nos.nl/artikel/2210648-arnhem-even-geen-bitcoinstad-meer-transacties-zijn-te-duur.html That's how well BTC works.

"But but Lightning network will save us", yeah right a system that only processes a route when users are online, where maximum payment in a route is determined by the smallest account in the route, where you still need to pay very high fees to open/close a payment channel and when you want to re-wire BTC into the channel, where fraud among 2 users in the same channel is possible and which will take 12-18 months anyway to complete, yeah that sounds like a great system, LOL.

And I'm not even talking about the insane amount of energy that's needed to keep the network up and that more and more countries are now actively fighting and banishing BTC.

So of course this is a $294 billion bubble which is going to pop. The million dollar question is not IF, but WHEN. For all I know it's going to hit $50.000 first or even more. But if you can't even see that this IS a bubble, I'd advise you to do something else with your money, because you'll lose it all one day.

LOL this is just crazy. If you have USD you're pretty sure you can buy an apple for roughly the same amount of USD next year as this year. You also know you can pay for that apple at any grocery (even international with your chip card). With BTC you just don't know, could be you could buy 1 apple, maybe 10 or maybe no apple at all and 99.9% of the grocery stores won't even accept BTC payment anyway.

First off, the twitter link does not work. However, you should really think about this yourself.

Yes, bitcoin may be in a bubble. Who knows? However, if you have a look at the idea behind bitcoin and its core values, it will seem obvious that even if it does crash, its not going to be the end of bitcoin forever. It will take time and a lot of effort to destroy bitcoin.

However, the lightning network needs to be implemented asap because what is happening right now is horrendous.

Most of the bitcoin criticizers have continued saying that bitcoin is a bubble and it would burst.But its not a bubble.A bubble is a stock or an asset which has been overvalued much that what value it actually has.But bitcoin is not overvalued.Also,it is not just a piece of investment.It is mainly backed by the demand which it has since it is mostly used for trading purposes and also after lightning network gets activated,it would also be used more as a currency.We could now see bitcoin price once again rising.

I think that Bitcoin can not be overestimated for a crypto currency user, But in fact, its price is really sky-high. The fact is that any project that has its own coin, fixes for it or a product or service, but at the same time Bitcoin has nothing at all. Even the etherium has its value more than Bitcoin. But it's really quite different.

This doesn't mean to be a bubble, because with bitcoin price grows unexpectedly. This quite often gets termed to be a bubble by the users who doesn't have a bigger and better knowledge about bitcoin as well other digital currencies. In my view bitcoin is a growing asset which is to make a change in the world.

I don't believe bitcoin is a bubble because people has been calling bitcoin a bubble for far too long since 2013. If bitcoin is a bubble so when is the bubble burst? Oh, come on, what do you expect people would be giving bitcoin so many different names to discourage people; such as ponzi, scam, pyramid, gambling and so on.

I think we are in a State of bubble bitcoin because bitcoin indirectly can suddenly by itself is experiencing very high growth then no wonder kjika bitcoin has air bubbles which also arrives and I notice that bitcoin is also the highest investment of all other investment until it can make them make changes in participates worldwide

People fail to understand that. They don't have the ability to think beyond their own limited logic, so Bitcoin at any price is a bubble by default. In easy terms, Bitcoin has no value, and will never have value, so even at $100 it's a bubble that will soon burst. That pretty much explains why the mainstream media has been talking about a bubble pretty consistently throughout the years. If they ever get to a point where they actually start to understand Bitcoin, we're already at +$100k levels catching up on gold pretty quickly. At that point they will blame themselves for having underestimated Bitcoin all the years....

People always thinking that bitcoin will not go for long nor it will it makes us profitable at the start. But bitcoin still on the road of making people to trust and believe. As bitcoin continue it's journey, the more it become popular and more people getting involve in here. And now, it consider as one of the biggest investment were it changes a lot of individuals in terms of financials.

we obviously cant go up forever the top was 20k now a bumpy road and a slow drop

We are in an altcoin bubble right now. Not that I think altcoins will crash, but Bitcoin's % of the market should rise back up into the 40s. Wouldn't be surprised to see the whole crypto market at like $1.2 trillion in March with Bitcoin at over $500 billion.

Bitcoin are not like the other thinking, it was growth in their own ways. It was fall down their price but it doesn't mean that bitcoin are going into deep for long time.

Maybe sometimes they were experience some scenario's but they can't stop making a lot of solution. Other than that they make a lot of improvement this 2018 so I guess more capitalist are attracted to fund bitcoin in the future.

The demand for bitcoin keep increasing day in day out and it has been a universal laws that whatever go up must come down and that is the laws of gravity! The current corrections is a sign that bitcoin is obeying universal laws and I keep on tell people to stop calling bitcoin a bubble and focus on the realities.

Why call it a bubble? The price is determined by market, supply and demand, and the value is as high as users are willing to pay for it at that moment.
Despite all conspiracy theories I would say that bitcoin price is still rather independent and doesn't have some intentional influence by some interest groups. Let's hope for even higher price, that will us all do a good thing.

That's right. Today the society is spread on two part, one believe in bitcoin and have all their proves that bitcoin is not the bubble, but there are those who are sure in the future exploding of bitcoin and all crypto market. I am in the first group. Bitcoin is coming in to our life, more and more places accept bitcoin and other crypto. Today there are more than 11000 spots over the world which accept it. There are firms which pay salaries or part of it in crypto currencies. With such facts bitcoin just can't be a bubble, but yes, I am agree with those who say that it is speculative instrument.

Do you have proof of that? It's quite the contrary, last year you could pay in 3 of the top 500 ecommerce stores, this year it went down to just 1. No retailer likes this kind of volatility, the costs and the slowness. And how do you even accept a payment in a physical store if you have to wait hours to see if it even really went through ? Do you prohibit your client to walk out the stores for 5 hours ? LOL

Also experiments like the one in Arnhem, The Netherlands, where 110 retailers accepted bitcoin payments have failed because of slowness and extreme costs and the stores are now not accepting bitcoin anymore. None of them.

Bitcoin in its current state is a joke, not suitable for payment at all. And lightning network is even a bigger joke, the guy who invented that must have been really high on some good marihuana.