Bitcoin Forum

Hello,
I used to believe that Bitcoin is over speculated but the answer is NO because Bitcoin will have stronger self-adjustment once predictable liquidity collapses - this is actually the trend

Bitcoin is a digital currency, also known as a cryptocurrency, that emerged after the financial crisis and is not underpinned by a central bank. It allows people to bypass banks and traditional payment methods for goods and services – an idea that has evidently caught the imagination of some investors, because its price has surged by more than 900% in 2017. Bitcoin – created by “miners” who use high-powered computers to solve complex mathematical problems – must be stored online using a digital wallet, and can be bought or sold using exchanges such as Bitstamp, Bithumb and Kraken.Bitcoin disciples argue its price will rise further, viewing volatility as a necessary bump on the path to even higher valuations.

Bitcoin works more like a digital store of value than a digital currency or a financial asset.
This means that trying to estimate an intrinsic value for Bitcoin is pointless, and prices fluctuate according to demand trends as opposed to fundamental value.

Bubbles indicate something profitable is going on. When the fear of missing out kicks in a bubble is blown fast.
It happened in 2013 and then after a while a bigger bubble was blown.

I agree with what an investor said about bubbles. He says these bubbles are necessary to bring capital into the market to see if these innovations are actually going to stand. So slowly but surely, it seems that blockchain technology and cryptocurrencies are creeping into our lives. And in the near future, cash will be a thing of the past.