Bitcoin Forum

Is bitcoin a legitimate asset, or a super-bubble waiting to implode? As prices for the cryptocurrency skyrocket, investors and pundits are increasingly taking sides.
Whether you’re a backer or a detractor, what’s not in doubt is bitcoin’s dizzying rally this year. The most widely used digital currency crossed the $7,000 mark on Thursday and is up more than 650 percent in 2017. It’s managed to whip past the $100 billion total value mark despite governmental crackdowns and mainstream market skepticism. Bitcoin was trading at $7,207 at 3 p.m. Hong Kong time on Friday.

More @ https://www.bloomberg.com/news/articles/2017-11-03/big-investors-are-taking-sides-in-bitcoin-s-great-bubble-debate

Can't it be both a legitimate asset and a super-bubble waiting to implode? That's what I think.

Honestly, I really like the charts which I didn't realize;
- it takes 873 days for bitcoin to reach $1000, and then collapse due to MT-Gox hacked.
- it takes 907 days for bitcoin to reach $2000 on May 20th 2017
- 56 days to reach $3000 on August 2017
- 6 days to reach $4000
- 44 days to reach $5000
- 13 days to reach $6000
- 4 days to reach another ATH at $7000

And bitcoin still on rally to reach $8000, who knows.
But, there are some people who still argue whether bitcoin is a legitimate asset or just a super-bubble waiting to implode? LoL
No matter what they are saying about bitcoin, many people stated bitcoin has died hundreds of times, but bitcoin keep rising, going through all of the obstacles.
As long as there are people who believe and support bitcoin community, it will grow bigger over time.

Off the top of my head, yes it can be both, but what does that mean?   ;D

Almost anyone that is into trading will surely call Bitcoin is a bubble because of its current price and the volatility of it is so high that the price of it increases in just a short period of time comparing to some other Foreign currencies in the real world. I really do believe that Bitcoin will still go up in the next few years for as long as it survives the problems of Hard Fork and some future issues that may arise.

Many people also see Bitcoin as an asset for future investment instead of a digital currency that can buy and sell goods and services online because it is more worth to hold it than to spend it though.

It's interesting how Bitcoin is not coming to a rest rumor wise. As soon as one news publication seems to stop influencing the price, another one pops up...

I feel that it's a legit asset.

Theoretically speaking, and looking at the chart someone that has little knowledge about bitcoin and knows one or two things about economics will call it a bubble. And rightfully so. However if you look at the whitepaper and code behind bitcoin you will find the revolutionary value of bitcoin. Something that transcends the laws of economics.

People are blinded by the numbers and not the "push" factors behind these numbers. In the days building up to these

numbers a lot of events happened. This is the most important "factors" you have to keep in mind. The environment changed

a lot since we were trading near the $1000 prices. {scaling has been more or less addressed, governments like Japan has

accepted Bitcoin as a currency, more merchants started to accept Bitcoin as a payment option and we had a Halving}

Bitcoin is an asset and the biggest amounts if coins are held by whales and while they hold their founds the babble will never pop, they will not just let it happen. They are regulating the price and normally for them it is profitable to bitcoin continued to grow.

It can be both, but I personally do believe that it is an asset worth watching and investing in. Next year, this will still be a topic of discussion. Nobody knows what will have happened, but I do hope it will be rising.

Also reason for this fast increase on bitcoin's price is the fact that more people
are now aware about it's existence and since more people are now trading price will
go high rapidly unlike before. Plus the FUDs that was released before about the
coin that it overcame which made the people trust it more.

Of course it's a legitimate asset. Otherwise it would grow for so long....and you wouldn't have a shit load of fucking smart people working on it, buying it, etc....

The naysayers are either stupid, uninformed or they pretend to be stupid :)