Bitcoin Forum

Another Nobel laureate came out against Bitcoin.

We're all familiar with the banking CEOs (Jamie Dimon) who have been critical of bitcoin, and it's easy for people to dismiss their criticism as coming from a party with interests they view to be directly threatened by Bitcoin. (I don't entirely buy that argument, but nonetheless...) What should be more concerning is the people who have won Nobel prizes in economics voicing concern over the sustainability of Bitcoin's price. Yesterday, Noble laureate Joseph Stiglitz said bitcoin should be outlawed. (Reckless statement IMO.)

However, today, none other than Robert Shiller said that Bitcoin was destined to crash, and this is a much bigger deal because of who Robert Shiller is and his work. Robert Shiller's line of economic work deals specifically with the prediction of asset prices and the inefficiency of markets. Mr. Shiller's work lead to the establishment of the Case-Shiller Index which is used to value home prices in the US, and Mr. Shiller famously warned about the dotcom bubble and the housing bubble before anyone recognized they were bubbles. Here he is in 2005 warning that housing was a bubble detached from economic reality, and that it was destine to crash:  https://www.npr.org/templates/story/story.php?storyId=4679264.

Here's one key passage where he is talking about the housing bubble, and see if this doesn't sound exactly like Bitcoin right now:

https://i.imgur.com/K0pBr41.png

So yesterday, Shiller said this exactly about Bitcoin:


This is one guy who when he says something is a bubble, people ought to listen.

I don't want to seem negative. I'm trying to avoid political discussion.  :)  I would only like to say a case could be made for nobel prizes being a political tool for bankers.

Paul Krugman has supported many questionable and controversial economic policies over the years as a nobel prize winner in economics. There are some who question whether Al Gore should have won a nobel peace prize for a presentation on global warming. Barack Obama winning a nobel peace prize did raise a few eyebrows, years ago.

It is possible that nobel prizes are given out to those who push political agendas, rather than those who merit it. There used to be excellent scientists and economists like Milton Friedman who deserved a nobel prize. These days, it might be fair to say the quality of work awarded a nobel isn't what it used to be, unfortunately.

It's a good benefits to all bitcoiners of the bubles many are excited about this.Everybodys preparing for the coming up bubles for them to wait for the surprise of bitcoin to become $50000.Maybe when this time come many bitcoiners will become big timers. It's really exciting to have this opportunity even l don't know what's next in the future.

So? He directly states he does not know when this is going to stop, so his prediction as always is as good as anyone else's prediction, we all know that once a bubble starts at some point it needs to burst, to have a Nobel prize his predictions are awfully vague, besides to stock market of 1929 eventually recovered, bitcoin is not going to disappear so for all of us that are holders we do not care if the bubble burst or not.

Criticism of the Nobel process notwithstanding, I do think Shiller's pedigree speaks for itself. As fuzzy as economics is as a science, Shiller's work has been more concrete in the relationship between asset prices and the inefficiency of markets, correlating people's inability to predict reasonable asset prices to the cause of bubbles. As with the housing bubble, he identified that it was a bubble long before other folks (he was talking about it in 2005, two years before it became evident to others who "called" it before completely coming off the rails in 2008). What concerns me is how similar his descriptions are to Bitcoin to how he talked about the housing bubble.

Everything is a bubble. Fiat currency can also be classified as a bubble. Being a bubble doesn't mean you could not make money by participating in it. Just make sure you manage your risk well and don't over do it. Pick a strategy that fits your own risk appetite. Don't be overly greedy but also no need to be too risk adverse.

I'm more concerned of a coming recession. There has been several talks about another one on the way and how the US gov't is trying to prevent it while at the same time not causing it.

Many were calling a US housing bubble as early as 2005. There's a clip on youtube of it:

https://www.youtube.com/watch?v=HQ79Pt2GNJo

If what you're describing represents Shiller's work, it seems more like a deflection than legitimate science.

The best explanation for "bubbles" may be our slow growth of wages which lead to the value of real estate declining. Some of our recessions and poor economic growth may also be attributed to this.

The best explanation for inability to predict bubbles may be lack of employment opportunities or demand in the industry for objective and unbiased analysis in finance and economic sectors.

The best explanation for inabiity to predict asset prices (that I've heard) is brownian motion being utilized as a fundamental force upon which market projections are based on.

Shiller's work in these areas could represent moreso politics and deflection away from causality of true market mechanics.

I think that anyone who understands markets will agree with the bolded statement. I like to think of Bitcoin "bubbles" like Gartner hype cycles. Bubbles are expected to pop and never recover, whereas hype cycles recover in due course.

We are undoubtedly in a hype cycle that will come crashing down. But even Shiller -- hilarious name by the way :P -- seems to stray from the traditional definition of a "bubble" when he says "it won’t go to zero, it just will come down." As a bitcoiner since 2013, I don't think I'm alone when I say that I want the price to come down. I'd even welcome another 2-year bear market if it means I have more time to accumulate cheaper coins!

I've always been partial to the argument that Bitcoin is a Veblen good (https://en.wikipedia.org/wiki/Veblen_good), and I think that relates well to Shiller's points about the housing market. What he's saying holds a lot of truth from a market psychology and economic cycle perspective. But what I'm really curious about is what his downside target for BTC is. :)

There probably will be a crash at some point. We saw it happen in 2013 I think when the price shot up to over $1100 and dropped back to around $400 in 2014 and eventually below $200. But we also know that gradually the price rose and after the halvening in 2016, the price started really climbing again and has kept increasing to $10,000+.

Crashes and consolidations will happen but I believe that if we are long term holders, we will still make big profits on Bitcoin and the major altcoins.

Considering that we are talking about a professor with high iq we should read between the lines: i did not express any assurance that i would make the bubble burst. It might have the opposite effect of strengthening it.

I don't think the bubble is going to pop for at least 2 years. If you look at it, we're barely out of recovery.

Did he account for housing bubbles outside the USA? Because there are plenty of them for which 2008 was a relatively minor hiccup before they carried on destroying the lives of normal people.

The UK faltered and then continued upwards without showing many signs of slowing down. Britain's about to fly down the toilet, they've taxed the shit out of the most destructive elements like private landlords, and even with all that it's still not officially popping.

The key factor is supply and demand.

You can of course worry about what a bitcoin bubble, but name me a way to avoid this. A lot of people already earned good money with bitcoin. They had to abandon that because bitcoin could be a bubble? Lol. Now there is nothing more profitable than bitcoin. If you're not greedy then you should not be scared what will happen next. You have earned now.

He may be correct but at the same time it does not even matter. As the last point states it will come crashing down but it won't go to zero it will go back after that. Bitcoin is here to stay people need to understand this. Also do take a look at the biggest bubble in the world which is real estate right now. 500 trillion is a lot for one market but you don't hear mainstream media talking about this bubble...I wonder why that is ::)

I do not agree with this mister. He may have predicted bubbles, but what they had in common was that they were part of the old economy. Bitcoin is a new asset, from a new asset class, from a new ecnonomical world. It is way too new for him to have any clue about it. Passing too much time in its books made him being disconnected from the change and missing Bitcoin.

Why should I worry?

Even if it is a bubble, I do not worry in life. Worrying causes stress and it is never a good thing. Worrying should be avoided at all costs. Even if your house burns down, you should never worry about anything for the reason above.

Well I do agree with him about the bitcoin going up in value way too fast and that it will stop at some point even go down. The going down part happened many times already. He also said something true which is it will not go down to zero. But the question is when will it stop growing in value? The estimate is it will go up to 100k usd before it will stop going up.

i think he is partly right.

if he is talking about housing bubbles, they have happened many times since the 1920's.

if bitcoin bubble bursts, it will just blow right back up again but like housing, if you own one it is still there after the bubble bursts. its just the "value" that bursts.

1 bitcoin now will still be 1 bitcoin if the bubble bursts

That's the true statement, as it is speculative in nature each and everything the people reveal about bitcoin has got its importance. Particularly bitcoin when discussed or getting more public awareness makes it more stronger and the same is driving the price forward reach bigger values.

I think those people already understand the strategies marketing and pattern of the price of bitcoin where there are absolutely Ups and downs. Bitcoin is like that we all know it but some of us are so worried if it going to down and very amaze when it ups.

Let's be honest, there is still a lot of unknown in Bitcoin as it's the first cryptocurrency that spread that much.

This unknown part is risky as well, since nobody knows for sure if it won't crash one day or somebody will find a way to trick the system.

So not surprised that some people think it's a bubble, but from another side it can be the beginning of something huge and never seen before.

The start of something huge bitcoin will be only then when I see that people use it as currency. Now his people are only for accumulation. We are turning it into a bubble. Only depends on us our future. If we miss the chance that another such chance we will not receive. We will regret it for the rest of my life.

Well, maybe it is a bubble and will one day crash, but since this is moved by people investing into it, don’t you think that even after the bubble bursts, people will see it an opportunity to start up again. People might be very excited if there is opportunity to buy in at the early rate.If the bubble will burst, I don’t think it will be anytime soon..

Lets be honest and read the whitepaper about bitcoin written by satoshi first and understand that properly before making any comments. As we say incomplete knowledge is a dangerous thing. The code is in github and can be evaluated by anyone for checking the blockchain and how it works.

Actually speaking even if a crash occurs does that matter? I see shillposts like this everyday and more shills in real life who think bitcoin is a covered up ponzi and I keep thinking one thing - do these people even understand how blockchain works?
If people accept bitcoin and blockchain technology it will be the new version of banks and finance.

unfortunately, if it's a bubble, then people won't have the opportunity to start anew...they will have nothing...I think that there is such possibility...and so you can say about everything...so we just should think and weigh all the pros and cons

When Bitcoins is made into a political commodity then what happens is a debate about fear.
Why only the bubbles of concern to the debate. Forget, how bitcoins prices are rising sharply. Why not discuss how the benefits that bitcoins offers, while some countries are skeptical of blocks it.
Japan, US, South-Korean, Denmark, Finland, are those countries whom legalize it. They have received bitcoin technology because it can benefit for the people economy.

Well as long as you believes and trust bitcoin you shouldn't be worrisome.
Bitcoin is less than a bubble but more than a bearish act and if the bubble burst out it will definitely follow by a bull run.

It is the same as always, at first an institution performs a function but later that institution becomes a target and becomes hijacked and then is used to further the goals of the group that hijacked the institution, it is nothing new, that strategy has been used for a very long time and no matter the size or the type of institution it is a strategy that is guaranteed to succeed with time.

A bubble that will not blast.
Maybe it can be called a balloon. Just losing some air and can be pumped back.  ;D

I dont want to think like that for now because I feel like I am still starting and still learning more.
Just want to go with the flow without negativity.

I never against bitcoin but I do agree with you at this point. THe price of bitcoin is way to high and there will be an explosion in the future, a very big one. Many people will commit suicide just like which has happened in the 1929. The world was in the big chaos. Bitcoin will start another chaos in the economy system

It can be a bubble but that doesn't mean it can't go up to 100k. Also it doesn't mean the value will be zero after the bubble pops. If you have faith in BTC all this bubble talk is essentially irrelevant because you will think that the bubble can burst and Bitcoin can recover from that burst. I don't really care what mainstream media says anyhow they have tons of misconceptions about Bitcoin and their opinions are rather useless if you ask me.

The bubble thing is over hyped. Bubble is usually used in the economy world, the economists believe that anything  not seen or not have been touched is a bubble, this is the reason bitcoin is also classified in that but despite that, the price is still going higher .

Isn't going anywere while traders keep making money from the fluctation, the boom will happen when they want to.

It will same as the bubble but the bubble will be matched with the crypto. As you can see just like after jamie already released his statment regarding the cryptocurrency and it seems the bitcoin gets burst.
The price gets plunged a lot. Rather than ballon the ballon can be generated again with the more size.
This bubble even bigger than before.

If we had to believe "experts" back in the days, Bitcoin was even a bubble at the time it was reaching the $1000 mark again after the long bear market we went through. They kept repeating that all the way till where we are right now.

I must however admit that at current levels, and with the insane +1000% increase this year, that people might have the impression that we're currently a bubble, or at least working on forming a bubble.

The only thing with bubbles is that people think to know that it will likely pop soon, but there is no way to actually predict this. It may be that we'll keep going up till far in the next year before we see the market plummet badly.

At current levels I don't blame people thinking it's a bubble. This increase is even for Bitcoin standards massive.

It's only the bankers and those who don't understand bitcoins that believe that it's a bubble, whiles they don't believe in bitcoins,  we on the other hand will continues to reap the profits whiles they contemplate on if they should invest or not.

The very main reason to get worried about the bubble is to get loss in profit.  But some whales take advantage this by shorting btc.

If this is a bubble and people invest their money at these high prices then they have no one else to blame but themselves, investing is always a risk, investing in bitcoin or any alts is risky the rewards are there for anyone that has the guts to invest but if you are ready to get the profits you need to be able to accept the losses as well, if the price crashed we are going to get a lot of topics from newbies saying that bitcoin is a scam when no one forced them to invest in bitcoin money they could not afford to lose.  

Exactly. Fiat is also an bubble, but it is so well regulated by the government that it seems extremely stable, if the government was to fall what do you think will happen to that fait? As far as bitcoin is concerned it's free, no one controls that's why it's so volatile, and probably it will remain. There is no way we can predict that it will drop eventually, if it keeps getting popularity then it cannot drop.

Five years ago when Bitcoin reached $100 per unit. Everybody said that the bubble will burst. Now Bitcoin is about to burst.AGAIN? Stupid speculators are stupid after all. It will never burst.

That's the reason why bitcoin is becoming stronger and keeps increasing due to the negative speculation about it. Especially business minded people who doesn't believe crypto are th one who accusing that btc is really a bubble. I can say as this moment that they are wrong about their predictions. Bitcoin will keep increasing and a bubble that they talking about will never happen. 

This is their another way to sell people their bitcoin so thats why the value of bitcoin will go down again and they will buy bitcoin that is the life ! Dont panic if some people said that bitcoin is only a bubble because i think bitcoin is the next currency in the world.

I read an article online, that great corrections is coming and the downward trend may last for long but this will start when bitcoin get to  $25,000! This current upward trend is going to last till middle of next year before we can see any significant changes. I think bitcoin is not a bubble and we should look at bitcoin as a currency, though it has not been used as a mode of payment by major online mainstream shop but in future when the volatiles has reduced we would see how bitcoin is going to serve as money.

We should not take these statements into consideration.
Bitcoin is first of its kind. yet all know when there is an rapid growth there will an slight fall.

Most of us now know that we all are now facing a bitcoin bubble.People have continued to buy bitcoins with great excitement and the entry of wall street companies like CME have made this excitement more which has inturn led to this high price.But i'm being a long term holder don't bother such price hikes and dips.Even if its price falls more,i know about bitcoin's potential very well.I would just continue to hold.But when this bubble bursts,most of the newbies would flew away.

Slight fall is not a problem but when the growth take place of 2k in 24 hrs or so which is not very justifiable the questions arises or a panic mode gets on and thus people start getting worried about it. And when falls take place on such instances it will be a crash and not just some 500 - 1000$ falls. On other hand if the growth takes on slowly and progresses it would be considered more viable.

I also use this tactic. Now it seems to me most successful. But to be honest it worries me a permanent increase in the price of bitcoin. I understand that it can end in a huge fall. But the problem is not even that. After each price increase makes me harder to earn coins. If the price falls then all my present income will turn into nothing.

So just always remember that bitcoin is not stable there are times that it goes up and goes down. Worrying about a bubble??  I think I am not worrying about it because expected that this would be happen it is just like bubble that will goes down fastly but it definitely recover.

I agree with your point. Right now, no one can really accurately tell how this rise would pause or would stop for a while. Also, I do not think that it is a bubble being bitcoin has maintained value and power amongst all other coins in the market. It has endured many forks, changes in market trends and surges from alts. Thus, as far as I know, it is legit and for real.

What do you mean about facing the bitcoin bubble? The bitcoin is a bubble and that will be applied anytime. The flash jump, flash crash and another pump and dump become a real evidence how the bitcoin is a bubble right now. With no actual price and bitcoin was a bubble.

Bitcoin gain so much value within years, but it's different in this year or in the last few months since August when bitcoin price increase significantly. Many people worry this is a bubble, in short; bitcoin isn't a bubble and it won't burst simply because bitcoin has a real usability, a better monetary system. It just a matter of time or until the economic collapse, then people will realize; decentralized digital currency becomes a savior such as in Venezuela or Zimbabwe.

I think you're wrong. Currency is part of the economy of the country. But the economy should work smoothly and without jerks. For this, the government uses manual control of the economy, including through currency. How do you imagine to do with cryptocurrencies? No they are absolutely not adapted to the state of the economy.

I think all of their opinions are politically multivated in the sense that the process that earn them they status is questionable. They lack the credibility to call or refers to bitcoin as a bubble, bitcoin as a digital currency has the capacity to accumulate any amount or market cap as long as bitcoin is able to sustain it market value and price cap. Bitcoin is free to rise to any amount even up to a million dollars at any time and nothing negative will happen as the anti bitcoin are professing.

for people who have long been in the world of trading, they will see this as a bubble, where the increase is very significant and sharp. But it is different when they enter the world of cryptocurrency investments. Price movements above 10% per day are very reasonable, even some altcoins are moving up over 50% in a matter of days. Therefore, I think there is nothing to worry about with this situation. Whatever happens, bitcoin will not return to $ 5k or less. In fact, I'm sure, if the price back touching $ 10k, people will race to get it, and the price will rise again.

BTC now a days has been dropped from its major intent (i.e to be an alternative mode of payment). Major reason behind it is too high transaction fees and too much confirmation time to complete a transaction.
So BTC is now serving the role of an investment instrument rather than being an alternative currency. The reason behind the rise is quite simple, people are inventing on BTC seeing its price growth in past year. they are looking the growth, not the concept which is a wrong approach. As BTC does not have any income source of its own, that is why I feel it is just being a bubble now.

If you learn about Bitcoin as well as cryptocurrency, then this is just the way of the big guys to drown the BTC down to buy, then one time the price of BTC to the peak will simultaneously sell to make a huge profit. In fact, the BTC for the next 10 years will continue to develop and there will be no sign of disappearing as long as there is a need for it, it will remain in any form. ;D

I think any one with half a brain can see that bitcoin is beginning to grow exponentially and knows that can not continue, the question really is though is are we approaching the top now or will it be at 50k, 100k or even higher? Even for those who do not believe we are in a bubble they should still fear that we are as it will keep them sensible.

This is the important question , i like to think we are almost at the peak. But i didn't see btc rising this high that fast. People just need to accept that there is a big correction coming soon but when that is nobody knows.

Total awareness of the community might not increase the panic selling scenarios when bitcoin price will suddenly go down. Or even have a worst thing happen to bitcoin in the coming days. Though they call bitcoin is a bubble but it won't mind by the investors, because all they have in their mind is that they'll gonna earned from investing  with bitcoin.

Isn´t to be against or in favor of the theories of those economists who also won a nobel, they hold their theories but only one thing can prove them true or discard them: and that is the time, another thing the peoples that came out against BTC and who have been critical of it they have every right to do it, but they also sometimes make mistakes.

While many will probably still have the attitude that bitcoin will continue to rise, it doesn't take a lot of money or bitcoin to begin a big sell-off. As more and more people start to accept a crash is coming they'll be trying to preempt it. Alternatively it could lead to decreased accumulation for a while and then we will see bitcoin restored to a more stable situation. Of course the easy thing to realise is while enough people still believe bitcoin will ensure them a profit then there won't be any crashes, someone who bought at 5k and fears losing their profits can simply sell to someone investing for the first time at 15k and aiming for 50k.

Bitcoin will start nothing, bitcoin is too small to cause any kind of big shock around the world, if anything bitcoin is going to be there the next time there is a big crisis to help people escape the worst effects of it, those that should be worried are the ones invested in stocks and in bonds because there s going to come a time governments are not going to be able to pay the money they borrowed.

Well, that seems to be the same thing as I saw someone else predict online. In the article he was saying that bitcoin is likely to get corrected when it hits around $20k or slightly above that, around $20k or $25k, and not this time around. I have always known that the price will fall one day, but the problem has always been when and how will it happen?

Well, nothing has been raised, so we'll wait here for now. We all understand that this is a bubble that is artificially inflated, but we all remain faithful to it and expect an even greater price for our common joy.

For sure as much as the population of the country will increase people will increase and they will have different mindset for bitcoin. Some will say bitcoin is good but some people will say bitcoin is not good. We cannot stop them, but we can make them think positive about bitcoin through just a small effort such as bitcoin trusting and putting your all capital in bitcoin will make you rich.

honestly I'm not afraid if it happens, because I buy bitcoin I use to save in the future, which I fear only when the price or bitcoin is no longer the price then I will experience a very high loss.

More and more people now are getting into Bitcoin no matter what negative issues are being thrown to it and guess what the price is increasing rapidly and then there is an another 'Nobel Individual' speaks about the bubble, anything can happens in the future and they are just predicting their prediction base on their ideology and we can't blame them with that but if they are wrong about in what they told to us then they become silent supporters eventually.

I would not worry if a bubble may occur as I have not invested a big amount of my hard earned money to Bitcoin though cause I earned a good amount of money from it.

In this kind of currency bubble is always there time to time but as much as we are here already we must accept whatever happened in future. If this bitcoin will up more price high so its better for us. All i can say is we must think possitive always on what bitcoin future that we the people of universe will always be benifited on bitcoin.

He and some others have been calling it a bubble for sometimes now; which is going over a year and outliving the lifespan of a bubble or attributes of what a bubble is characterized of. He has also mentioned that mist of his statements, instead of having a negative toll on Cryptocurrency/bitcoins, it has but fed it more and more. Well, for the price's outrageous position now, it is worth bringing up again to regard bitcoin as a bubble but come to think of it, another market project for next year is Bitcoin hitting the $40,000 price mark!

I think for as long as we tell people that bitcoin will make them rich however there will always be uncertainty, once bitcoin becomes stable it should not be advertised as a way to become rich but a way to store value and earn a modest growth such as gold is. If something is promised as high returns it inherently always has a high level of risk attached to it.

Well we're all aware of the dangers of getting into something like bitcoin. And the possibility of a popping bubble is very real. But i think it isn't going to be a crash ot anything like that. Bitcoin is gaining bigger following each day and for me, that indicates that there will be support for btc to see it through a number of years.

I think that the dollar is a bubble more than bitcoin. The government prints endless fiat paper and buys shares on it around the world.
Why does everyone all so easily attack the "strange", incomprehensible currency, but don't want to pay attention to what they pay in stores every day?
I advise you not to take it all to heart. And also, I advise you to understand how the bitcoin is formed and what is reinforced, then many of your questions will disappear by themselves.

Maybe you don't know but this is only another example that someone told something, just be clever for your decisions, never listen to someone about this bubble cause look what is happening now, just believe in your knowledge and opinion, that's all for me. (And lots of those "experts" where wrong more than once in their lifetime career.)

The thing is just like the housing market it will eventually burst yes but it will recover stronger than ever. This is a repeating theme in several asset classes including real estate AND bitcoin.

Yes. I seriously get pissed off by people painting Bitcoin off as being something that will allow others to make big profits overnight. These people don't know what they are talking about, and at the same time spread their idiotic way of thinking amongst other newbies taking everything for granted easily. Bitcoin's technological aspects are the first one should explain to others in easy to understand language. If people at some point decide to invest in Bitcoin after that, then it's their choice, but you at least explained the very basics of what Bitcoin actually is, and that's all we can do, otherwise we'll be infested with greedy noobs not knowing anything.

If your a Shiller disciple I hope your not offended when I say that quote looks like an offhand comment with no real thought behind it.  Half of his answer was a string of cliches.  Then he makes a the worlds boldest statement when he compares Bitcoins growth to the 1920's stock market with absolutely no information to support it.  I believe OP put much more thought into his post than Shillers put into his shallow estimation of the Bitcoin market.

My question is why is that if there's something good and stable no one would ever bother to advertised it? Instead they will report those who aren't that smelling or something, is this the kind of a business they want? And my thought of is that maybe they don't really advertising it since it doesn't give them any in return which is not useful to them even if they can help everyone with their powers to advertise it. I think that's why there's a shiller because if there's a competition they tend to show themselves and makes the crowd wonder their thoughts.

Thank you someone with sense, I have been trying to gently warn people of this for some time now, Its funny if you actually take a minute and look at the whole thing from  a bigger picture for a minute you can see so many signs, Ill give you a few of my personally experienced signs:

I was at the offices of a global markets bank the other day, and the topic of conversation the whole time, bitcoin

Last week I was in a coffee shop and looked at the TV behind the tile to see a news report with the newest price of bitcoin plastered across the bottom of the screen in big red writing.

Over the last couple of years I have been giving my friends , who know nothing about technology and nothing at all about crypto advice to buy bitcoin, there response was always a its too risky i don't understand it type reaction.
Those same friends came to me the other day and told me they were going buying as much bitcoin as they can afford. I told them not to and they did it anyway. These people have no idea what it is they're spending their money on. If that isn't the definition of a unsteady market i don't know what is.

So what's the big deal? "It’s going to go way up, like the stock market in the 1920s. We will reach a 1929 eventually. But then it won’t go to zero, it just will come down." That sounds like a quiet day for Bitcoin, he certainly isn't talking about a crash.

Precisely that, we want to educate people about bitcoins benefits and uses to really allow bitcoin to grow and bitcoin the ultimate vision that many people have. If we simply brand it as an asset with ridiculously high returns everyone will treat it as such and sooner or later it will get dumped hard.


You're probably right in the sense that if it is stable then what use is it for most people to promote it, they do not gain anything themselves. Bitcoin is easy to push right now because the more people we get to buy in to it the higher the price will go. But as I said above, if we continue on that trend bitcoin will only suffer in the long term.

I can see this as two perspective.  First if it will bubble and vanish. It means after it reach the bigger value of the bitcoin it will return to no value at all. In this, yes! I will be worry that my investment will become zero. However I am looking at the second perspective of mine and that is if it will bubble and burst because the one controlling it not to make the price goes up so sudden cannot control it anymore. So the price will be beyond what we are expecting it will be just after a year or two. Well, this is just my opinion.

Well just as a musing, I would say it's because bubbles aren't defined by notional value, they're defined by valuation and a disconnectedness from their fundamentals. So the size of the housing market in absolute dollars doesn't tell you anything about whether or not it's a bubble. We only knew 2008 was a bubble by taking housing prices and comparing them to other metrics that showed prices were getting out of hand.

Also, if he is correct, that is all that matters. You're so in the bubble mentality you don't even realize how irrational your expectations are. When bubbles pop, they don't automatically go back up some undetermined amount of time later. That's the point of the bubble popping. If this bubble pops, you may not see these price levels again until years down the line, when inflation has increased the price of all assets. At that point, you're not back to where you are now, you're worse off because everything in the economy is more expensive.

HA! Robert Shiller's prediction is worth quite a bit more than "anyone else's". You don't win a Nobel for making predictions though, you make it for the economic field work you do. In this case, because of his line of work (the study of how people's inability to accurately value assets leads to inefficient markets and bubbles), his predictions about an asset being a bubble is noteworthy. The key isn't to predict when a bubble is going to pop, it's to identify when something is a bubble. If you know something is a bubble, and you know it's inevitable that all bubble's burst, it makes sense to conserve your capital now. You may think you're missing upside by selling early, but thinking you can identify when the bubble will burst and get out beforehand is a fool's game. You'll lose much more on the burst bubble than by selling before it burst. Also, thinking that because a bubble burst, it has to go back up eventually is going to burn a lot of people. There's no such certainty in economics or the real world.

Most of the people are worried about its future. I think here in crypto currency market everything is bubble. In case if the bubble burst 1bitcoin will be always 1bitcoin. Due to the recent changes in the prices of bit it seems like risky and that’s why people are worried about it.

Even they are earning a lot of money from this but still they have fear of this bubble bursting. Bitcoin is in short very effective bubble for investors.

dont worry bitcoin is not a bubble if you see the number of volume of the market in bitcoin do you think that bitcoin is like a bubble ? :( so we dont need to be panic even the value of bitcoin will down and if you believe in bitcoin i think you will get more money in the future . :)

"Value" is the whole point. Bitcoins and everything else in the economy are priced in dollars, so if the price of bitcoin crashes, you still have 1 bitcoin, but you have significantly less "value" in your asset and can trade it for significantly less dollars or goods/services. The fact that everyone believes a bubble popping is a temporary hiccup and the price will go right back up are the perfect illustration that this is a bubble. The only way you're going to learn unfortunately is to live through a bubble bursting, and then coming to the slow realization that your expectations of a recovery are not going to be met.

I do not worry that it is a bubble and I have a strong believe that it is the real price increase of bitcoin. Because the demand of bitcoin is increased much higher and the use of bitcoin is also increasing with a faster speed so if we are seeing that much increase in the price then it is a real increase and we cannot deny that fact and have to trust on that.

This is no bubble. Things will go up and down, but crypto is here to stay!

Why would nobel prize winners be any different to other FUDers? The investment technique that led to the 2008 financial crises caused its creator to win a nobel prize.. Obama won a nobel peace prize. I wouldn't give much legitimacy to the institute personally.

Blockchain will lead to de-centralization and deflation, and trustless monetary policy. Bitcoin is the reason for that, and the first mover advantage will not be forgotten. Its brand is forever in everyone's memory and will be the only coin 10,000 years from now that's written in history books. It literally does not matter even if the Pope condemns bitcoin.. this is technology that will drastically revolutionize our future.

Same here as your point of view dude, likewise I didn't worry about the bubble up on bitcoin because I believed that it will overcome the possible obstacles that will encountered. This kind of situation was happened on several years that why it may cause a panic selling of every bitcoin that they have. Bitcoin already proven that can survived from the down fall situation which attracts by many people and gets interested on bitcoin. Soon, in the future since its value increases rapidly for just short period of time for sure it could be probably happened again and we didn't know that it is already reach $25,000. 👍 👍

I’m always skeptical on whether bitcoin will go above $25000, cause I have seen lots of economists say that Bitcoin won’t cross $25000 and some people commenting here also said the same thing. I’m quite confused, and I’m being very careful this time. I will still keep calm and watch what happens when the price hits at $20,000 or $25k.

It is true that the “value” is the real point that describes that is it bubble of not. As we all knows that the value of Bitcoin is always going towards its high points. Anybody who says that Bitcoin is a bubble, they can observe the price and popularity chart of Bitcoin which is constantly growing. There are some points of price down but that no too much in numbers. The overall output of Bitcoin’s price is high and high. That proves that Bitcoin is not a bubble so no needs to worry for anyone.

Those economist are paid to distribute the same old theory that everything is OK and that we must obey the government when anyone that has his eyes open can tell there are many things wrong with the way the economic system works and that politicians do not want to correct because they are benefited by it the same way as bankers, bitcoin is a game changer and they do not like it one bit.

It's pretty easy for someone with a superficial understanding of something to dismiss it as insignificant as you've done with the Nobel prize. The question as to why a Nobel prize winner in economics is different from random commenters on the internet is laughable in its simple-mindedness. Even your presentation of deflation as a benefit of crypto shows a basic non-understanding of economics, as no credible economist will ever say deflation is a goal of monetary or national policy because of its tendency to disincentivze economic activity and cause recessions as economies stagnate and decline.

I worried about it last week that i sold all my Bitcoin for 14k$ because i am expecting that it will not proceed to 15k$ because of the things that i read like price correction etc etc, but looking at the price now i regret that i sold my Bitcoin anyways from now on i will not worry of the price, i will just hold and hold and hold until we reach that 21m limit.

I've heard a lot of bad news about Bitcoin and its downfall. However, I still find Bitcoin grows and there is no sign of disappearance. But up to now, as more and more alerts are coming from celebrities in the currency sector, I gradually become fearful and begin to pull out of Bitcoin. Instead, I invest in many other Altcoin because I believe the digital money market will never go away.

after hearing a lot of people said that Bitcoin is just a bubble, for now I don't believe anyone that will say that Bitcoin is just a bubble again :)). Bitcoin is a cryptocurrency, the future of this world, it's not bubble, they said that just because they want Bitcoin holder and traders afraid about Bitcoin then sell Bitcoin with lower price to cut the lost and they will have chance to buy Bitcoin with lower price :))).

when feel depressed and helpless, fear something and do not know must how, close eye and imagine a bubble foam pink is in the top of your head.

I agree that the price of bitcoin has been increasing too much at the last few months, it is not healthy for the coin, and true bitcoin believers should be worried about it.

If the price of bitcoin will burst with all the people inside, it may cause a lot of people to lose faith in bitcoin and may prevent it from being a global currency as we all drum about.

The sudden growth that has taken the price from the range of $1000 to $20000 makes people get into a panic state. This is quite common with every human. One who overcome the same will get the best profit making their lives in a better way. Each and every growth has been termed to be a bubble, but bitcoin has crossed several such bubbles in the past.

Im wondered how bitcoin fast like what happen now and im really amaze because of it and im also scared because i read many post that bitcoin will also down as how it increased so fast.

In real, Bitcoin is worthless, because the valuation of Bitcoin is depend on the investor's trust. So no trust mean no value.

I agree to those statements that are been given bitcoins are indeed a nonsense thing because no investors means no money so what will happen if all those people who invested in this decided to get back all their money then the bitcoins economy will surely fall like if all those businessmen decided to built their own unique coins and that are much upgraded than the bitcoins then what will happen is everybody will transfer into thqt thing because we all want what's gonna make us rich.so the bitcoins will be like a bubble that will pop immediately

And yet right now, you're selling was the right call as Bitcoin drops below $12,000. That's the problem with bubbles- you never know when they're going to burst. You would have to believe that you would know the when the top is before it's evident and with no warning or visual signs. Then you would have to believe that you can get out faster than everyone else. These are not safe or rational beliefs to have. Selling to lock in your gains is safe. A bird in the hand is worth two in the bush.

As we know that the price of bitcoin has been increasing too much at the few months which is not a positive sign for the bitcoin as if the the price burst and the value become down in the new year may it shift some of the large investors and other users to the altcoins for making the future decisions. the bitcoin believers are happy with the high price of bitcoin and if suddenly the price falls they will be disappointed by this i personally checked the prices of bitcoin regularly and now it is time to say that bitcoin is at the top level

I dont care about the OP, he is just another guy who entered to the market on the all time high, and he is now worried about losing a few thousand dollars, poor of him  :'(
Dont sell guys, this is going to go up soon.

Your right, it will totally lossing of faith if it might happened. Worrying is just normal because most of us invested a certain amount and we want to have a profit in the future. As many speculations that bitcoin is like a bubble that might be burst anytime, well it was already proven on the past years that bitcoin survived but somehow as bitcoin performance this year many is worried due to its value that reached of about $20,000. I would say all we gonna do is to monitoring from time to time and keep believing that bitcoin will stay on its stabilized value.

The price of bitcoin is increasing regularly from some time but it doesn’t mean that bitcoin is like a bubble. If the price of bitcoin is regularly increasing then it must have reasons and yes it is having many reasons which are its properties, demand and benefits etc.

If we keep an eye on the development of bitcoin then I think that bitcoin can maintain its position for a long period of time. Moreover it will revel with time.

I agree to your point of view mate, bitcoin is not like a bubble. As far as I know bitcoin is unpredictable which will depends the number of investors throughout the world as one of its major reasons. We can't blame those people keep believing that bitcoin is a bubble that may burst anytime due to its bubbling value. As on my own principle and believe, bitcoin will survived and will be dominat for long time of all crypto currencies.

Speculating that this might be a bubble isn't wrong at all. In fact, it's best to be safe rather than end up losing it all.

So you basically say that trust is worthless?
So this worthless trust has made people invest in bitcoin, build a business model from scratch, and currently, half a million of people using BTC  for nothing?

Well, then I guess it is better to switch to the Zimbabwe dollar or Russian ruble, as they are backed by...whatever.




So, you're going to finally sell when we reach the 21 million limit?
Better put the sell order from now, I kind'of doubt you will be able to put it yourself at that time.


Sudden?
It took a year!!!!

What was so sudden in it. We had tops, price corrections all year.
It's normal to panic only for people that invested most that they can afford to lose. The others stay calm.

Even if it goes back to 2000, it's still 20x times more than what my bank deposits are earning.

Though you do have a point, nothing beats being safe rather than buying the dip when noone knows its real bottom yet.

If you don't know properly about the definition of the bubble and you may need to learn the more about that. The bubble mean the possible flash jump and down. as you can see how the market reaction yesterday which tells a lot of the crypto users. The flash crash was happening.

Yes I read that on article, Well expert can be wrong too. even ministry of treasury in my country says so be careful on bitcoin's bubble, because the asset still same but the price increased, of course it can be dangerous. It's mean that money chase an asset . You must worry of bitcoin bubble. you might think it is ok because we have bitcoin not much as big whale. But if it happens to big whale of course it will decrease bitcoin value extremely. So if you still think that bitcoin will give you profit well it is good. But in the end you must be worry if something wrong is going to happen someday (bubble) extremely. CMIIW :)

For now I can say bitcoin is still bubble because we can ot predict the future as well, unless you can predict it when it will burst but until now, no one can predict it so bitcoin will stay bubble for sure. About surviving and dominating any coin, I will think that it is depends on big whale that control the market, for small fry like us, there is no way we can dominate their market price. Still this is much more for us to do

of course it doesn't depend on us, but on those people who control it, but I don't think that it will burst...in my opinion, it has already come a long way to stay with us for a long time

I like that. Trust in business is everything!
Would you rather have something that is issued and controlled by the same entity? What if that entity would decide to bail on you? To change the trust you have to persuade millions of people to abandon the currency. With typical fiat money you only need to persuade the president, the ruling party and the senate, which is what? 300 people all together? You can also destroy fiat by destroying the country, by putting it in a state of bankruptcy. You can't bankrupt bitcoin.

The only reason that the price stays at the levels and is not going down, is that most of the people who got involved in bitcoin never touched it, what makes the supply really low.
The demand is not so high, as you can see volume at most of the exchanges remain low, but the supply is just decreasing.

The inflation rate of 12.5btc a block is a joke and has no impact on the price

Yeah bitcoin is a good thing and it has proven itself since long now a person knows better about bitcoin and they trust bitcoin. It has been long that people were saying this that bitcoin is a bubble but now today bitcoin is a currency that is helping people in different way. If you want to take bitcoin as an investment you should invest in bitcoin but if you want to use bitcoin as saving then just hold and forget so trust bitcoin and it is will give you return.

I don't know why people think that bitcoin will go down, all I can see is more investors joining the community which makes cryptocurrency more solid.
I will only listen to people providing reosonable arguments and not to those spreading predictions.
The cryptocurrency market will remain for long time, and the wise thing is to profit from it not just wait for it to vanish.

I think all the experts are underestimate the potiental of Bitcoin. Only the economist can see how good Bitcoin gonna be. So which side you gonna choose ?

Because the price isn't changing too much and too quick, that's why people are reall worried about a blow bubble. Bubble blow bring the hope of investors gone with them.

I worry that this may be a bubble , i'm still invested but the last 2 months have been crazy.
Ripple just surpassed Eth on coinmarketcap, i feel like every noob investor is going into ripple without any idea what it is and what is stands for. It goes against what most people like about crypto , but people just think they bought the next bitcoin. Price has always been important but now it seems the only thing.

Actually now that bitcoins has reached a higher demand making it's price and value higher, many also has been starting to criticize bitcoin sharing their thoughts and opinions. And some are already making a statement that it is a bubble and people should start avoiding it. I am not afraid or worried of Bitcoin as threat for a bubble burst, but I am worried that investors and bitcoin users might actually believe these people making then panic selling with Bitcoin naturally goes down. This means that the more bitcoins are sold, the lower the price will be.

Anything is a bubble, because anything will go to an end. But until the explosion, there are plenty of opportunities to make a gain.

More people are getting into crypto, but not necessarily Bitcoin. Bitcoin's percent dominance has been on a steady decline for some time now. That means more money is coming into crypto as a whole but going to other alts more than it is to Bitcoin. Bitcoin's network has become a joke. Transactions are slow and expensive. It is increasingly obvious that a flippening will happen. There are many alts that are better at being Bitcoin than Bitcoin is, so it really seems it's only a matter of time. ETH, XRP, BCH and LTC are the most likely alts to pass Bitcoin in market cap, and it may come as soon as 2018.

It seems the bubble is just popped right now. The price of bitcoin is falling and it seems it will continue go down until the next year. My advice sell your bitcoins right now and hold your money and prepare to buy back the bitcoins when the price go up.

actually bubble is very horrible because bitcoin price is very unnatural and can at any time erupt and the price back to basics and it makes new investors or new players who buy at expensive prices to make them depressed because the price plummeted.

yes tey to read tulip fever i think it would open our mind how we see bitcoin. i. do believe bitcoin bubble is going to explode soon. the value of bitcoin been increasing without any reason. the main reason is too many people believe on bitcoin and think that it will give big profit for them. this is sure will be the next tulip fever.

Bitcoin is the most popular among the cryptos and a lot of investors want to get involved even when they only have minimal knowledge on bitcoin or cryptos. A lot of altcoins have potential such as bitcoin does and investors should consider to expand their investments.

Even those who claim that bitcoin is a bubble don't even know or fully understand it, and just see it for it's increasing price. They compare it to the previous crashes and bubbles without even considering how bitcoin is different and has surpassed boundaries.

Then go ahead and explain how people buying Bitcoin as a speculative investment is any different from people who were buying houses in the early 2000s as a speculative investment, or .coms in the late 1990s as a speculative investment. In all cases, people who aren't sophisticated investors were rushing into markets they don't understand because they have the perception that everyone was making easy money with the speculative investments and the value could only go up. Naturally, you have to believe a crypto bubble is different than any other type of bubble, otherwise you're faced with the very uncomfortable reality that you're making a very foolish decision.

Let's get something straight here: Even if Bitcoin is in a bubble, it doesn't mean the altcoins are. And if BTC is in a bubble, it's its own fault for not being usable currently. There are plenty of great coins that have better and cheaper transfer speeds than BTC which could easily replace it and reach a higher market cap. This is the fault of BTC and not a bubble per se in my opinion. New people are coming into crypto every day.

Bubble words simplifies price movement. Being a bitcoiner we should accept what really bitcoin is. The organizers are only manage of what being done in a proper way balance between price and stocks.

It wouldn't be Bitcoin's fault for being a bubble, it would be all the people mindlessly buying it without respect for usability. The fact that it's a bubble isn't Bitcoin's fault, the fact that it has no utility is. It is essentially a bubble because it has low utility. Also, there's a pretty good indication that if Bitcoin is a bubble, all crypto assets are also in a bubble state. Perhaps not as big as Bitcoin, but nonetheless. Bitcoin is still the big one that tends to raise or lower other coins like the tide raising or lowering all boats.

Even if btc is a bubble it is a normal thing when prices are rising people just enter into the train and expect profit without questionning anything why do they increase and as soon as we have uneducated investors we would have so many bubbles.

of course the balloon-like rise is terrible because it will break and the price will drop dramatically and very quickly, it is very horrible and will make new people play will lose and feel depressed.

Simply because all your moneywill become stome if it happens but i think it wont happen anymore because the total of marketnow in bitcoin and all crypto is so huge so i think no one can destroy it even the goverments we shound need is believe to bitcoin.

Bubble is a bad words: anything has a limited duration, so you have only to understand when death is arriving.
Btw, it seems to me that at present moment bitcoin is very healty, so I don't see reason to be worried.

I don't think that this is a bubble because this is a normal thing in the cryptocurrencies that they are fast and huge in either pumping or dumping in the market and i really used to this thing and i don't worry anymore for the 'bubble thingy' term in cryptocurrencies because i already observed a lot of market that falls a lot and jump up bigger than their losses.

Bubble, bubble, bubble,... when someone sees a growt that he doesn't understand, calls it a bubble.
Actually, bitcoin is very solid, so I don't see any reason to define it a "bubble"

People are saying bitcoin is a bubble but still bitcoin manages to rise and be the top crypto since it was launched.Many people can't get familiar with the new technology that's why they keep saying bubble don't invest.I am agreeing that bitcoin is riskier investment but it is not just a bubble.People just created it is an investment due to its speculative nature but bitcoin was invented to be used as currency.
So its better to learn surf along the waves than keep saying bubble and bubble.Actually bitcoin making many people richer so we can hope we also be richer one day.

A bubble is something that will explode. Ok, may be it's true. But until that moment, we have a lot of opportunities to make a gain.

Maybe bitcoins is a bubble but lets just take the advantage today that the bitcoins is now leading in the all cryptocurrency and the bitcoins is still the most successful and people still wants it even if the Government are saying a lot of bad things to them because bitcoins is still profitable that it why people are still believing in bitcoins instead of Believing that this is a bubble that will explode. Because even if bitcoins do not endorse themselves they do it in the outcome not always in words

I stress this might be an air pocket , despite everything i'm contributed yet the most recent 2 months have been insane.

Swell just outperformed Eth on coinmarketcap, I feel like each noob speculator is going into swell with no thought what it is and what is remains for. It conflicts with what a great many people like about crypto , however individuals simply think they purchased the following bitcoin. Cost has dependably been vital however now it appears the main thing.

Previously i thought like that, bitcoin value just a bubble. But after i learned more deeply, this isn't a bubble but this is because of potential the bitcoin. So, now i can get rid the worry to invest in bitcoin.

Even this is a bubble i don't care because i want is to make some money and that is what i will do for the rest of the years of bitcoin and other cryptocurrency because i don't want to lose some of my times in just giving attention to the people said that bitcoin and other cryptocurrency are bubble because they are just simply haters.

Basically that. The only ever time I have actually thought and considered the market to be in a bubble state, was back in 2013 when we went up so hard, and that without any logical justification of actual growth, progress, etc. In current times there has been so much development, progress, growth, adoption in all sorts of countries, that there is no such a thing as a bubble. Instead, I am using the term overbought instead of bubble. At the time we nearly reached the $20,000 level, the market was heavily overbought, with just one reason, and that were the future markets. On top of that, we were also close to a very important psychological level, which helped damping down Bitcoin at that point.

In the meanwhile you are worried, other people - with this "bubble" become rich :-)

Nothing is permanent, this is relevant to everything. Even if it is a bubble, now is the time to catch your chances and make a fortune to live in the future. You can do this without being sure that bitcoin is forever!

I believe bitcoin is the best for many years because i know bitcoin is more than a bubble it will never ends until people of low level become reach.

People who called Bitcoin were balloons, people who worried about Bitcoin's ballooning. 1 month ago When bitcoin anoraml experienced a price increase, I said that it would have a sudden drop. It was like I said, because the 20k dollar level was reached at an abnormal speed.

Bitcoin is a bubble if you bought in december, at top price.
If you bought one year ago, it's still a boom

Yesterday I read an article about the fact that if the block chain is advanced technology, why has not it been actively implemented anywhere so far. This food for thought. Despite the fact that I like the idea of block chain and crypto, I do not exclude the situation that it will not be allowed to develop.

You're missing the point. If Bitcoin is a bubble then there is no "taking advantage today" because all you're doing is paying for something far more than what it is worth (that's what a bubble is) and somehow hoping you're one of the ones who won't get burned. If you're buying assets at bubble prices, the odds are against you. And now that we've had several days of intense selling, perhaps the bubble is deflating and perhaps it isn't, but one thing that should make HODLers nervous is that Bitcoin isn't worth $18,000 one week and $10,000 the next. People hopped up on hype and FOMO paid $18,000 for something that was way over priced.

Because when the market becomes bubbles, they do not wipe after they start exploding. As now the market is exploding after a period of strong growth and many people wield everything when the mayor drop.

At the rate of $18,000 I felt like it is going to fall, so I stopped investing and withdrew the profits I made so far. Some people kept on investing with the intention that the price rate for BTC will reach at least $25,000 before falling. I know all those people might have lost their money by now, unless they will invest into trading and recover all their loss.

People thinking they're going to "time" the crash or get out before it's "too late" are the epitome of clueless gamblers and I don't feel bad when they lose money. They took on a risk they didn't understand, jumping on a bandwagon they didn't understand, and expect that what goes down must come back up despite the fact that nothing in economics works that way. The future is not predictable, otherwise the field of economics wouldn't exist. And it's funny that an average person thinks they can jump into this and be among the elite operators/traders just on a whim. Reality is going to deliver a crushing check on people like that.

Just out of curiosity, all you adamant "every dip is a buying opportunity" folks, how is that working out for you? Did you follow your own advice and buy the dip at $17,000? Did you buy the dip again at $15,000? Were you buying the dips as they dipped below $12,000 and $10,000? Still confident at $8,000? Does $7,000 look like a good price now?

I've been warning this was a bubble, as have many others on this board and elsewhere. The signs were everywhere. Everyone raising questions about the sustainability of the price was not some big bank shill or someone threatened by crypto. Crypto is a great concept, but it was clearly a bubble.