[2017-08-18] Not Bubble - Bitcoin Growing Up, Heading to $10,000: Dave Chapman

[Slow death]

Not Bubble - Bitcoin Growing Up, Heading to $10,000: Dave Chapman

No one knows if the recent rally is the last pump before the bubble pops, or indeed if it is the tipping point. But, Octogon Strategy Dave Chapman is seeing a new breed of investors flowing towards cryptocurrency that makes him believe Bitcoin is growing up.

Chapman’s company, which specializes in commodity investment, especially digital currencies, is seeing a new flow of institutionalized money opening accounts with Octagon. These new account holders are the type of people that make it look like Bitcoin is growing up, not preparing to pop.


Heated market



The talk and debate around Bitcoin, especially at big rallies, is whether the digital currency is preparing to pop on the same level as Tulip Mania, the dotcom bubble and other such market crashes.

Chapman admits that the market is a heated one, but it is also a very different one.

“I don't think we are looking at a bubble at all,” Chapman told Bloomberg. “I would say that the market is heated and a lot of people do think it is a bubble and it is sometimes hard for me to defend that position. But what I will say we are potentially at the tipping point.”

“Bitcoin is growing up. What we are seeing at Octagon Strategy with the account applications today is that we are serving a very different demographic, looking at high net worth individuals, funds and asset managers, private banks, the institutional flow is coming and I think that is one of the main reason why we are seeing the price at what it is today.”


$10,000 not out of sight



For Chapman, the idea thrown around that Bitcoin could hit $10,000 by the end of the year is not as absurd as many think.

“I don’t think it is unimaginable to think we will have a five figure headline at the end of the year,” Chapman added. “There has been an enormous amount of investment that has come into cryptocurrencies as a whole.

“The total market cap for all cryptocurrencies in January this year was $20 bln, today we are looking at $146 bln. In the space of eight months we have had $126 bln enter this sector, so it is  heated, but I believe we are seeing a tipping point, it is a totally different institutionalised flow that is entering this market right now.”


https://cointelegraph.com/news/not-bubble-bitcoin-growing-up-heading-to-10000-dave-chapman

[SvenBomvolen]

No one knows if the recent rally is the last pump before the bubble pops, or indeed if it is the tipping point.

Yes it is really like that. Nobody actually knows how Bitcoin will behave itself in next few months. But I think even 10k$ is not the limit for Bitcoin's growth. I think in future we will see some new pumps and dumbs promoted by changes in the world's economy, Bitcoin acceptance and speculators' play. I am sure after Bitcoin acceptance and admiting on the government level by some developed countries will pump Bitcoin tothe sky. The time of the pop is far and we need touse every moment now to earn us much as we can on the phenomen of Bitcoin.

[richardsNY]

People always get inspired to come up with exaggerated predictions when the price is pumping significantly. If we want to experience a more sustainable form of growth, we shouldn't be focusing on the price to reach the $10,000 level this year. It would mean that the price went up like 10 times in a matter of 12 months -- that's beyond insane! I am perfectly fine with seeing the price go up gradually, where we will be touching the $10,000 level somewhere in the latter part of 2018. There is absolutely no reason why the price should be going up that high this year....

[Cryppy_guyL]

No one knows if the recent rally is the last pump before the bubble pops, or indeed if it is the tipping point.

Yes it is really like that. Nobody actually knows how Bitcoin will behave itself in next few months. But I think even 10k$ is not the limit for Bitcoin's growth. I think in future we will see some new pumps and dumbs promoted by changes in the world's economy, Bitcoin acceptance and speculators' play. I am sure after Bitcoin acceptance and admiting on the government level by some developed countries will pump Bitcoin tothe sky. The time of the pop is far and we need touse every moment now to earn us much as we can on the phenomen of Bitcoin.

10 000 dollars - this is definitely not the limit for bitcoin. I would even say that this is still the beginning of a price increase. Bitcoin is an idea and technology that costs millions.
I am very pleased to read such news about bitcoin

[bbc.reporter]

When a lot of analysts start saying that something is not in a bubble, guess what? It is really in a bubble. The experts have said that everything was fine during the Tulip Mania and the Housing Bubble of 2008. Both have come crashing. They all do.

[Aragorn_125]

When a lot of analysts start saying that something is not in a bubble, guess what? It is really in a bubble. The experts have said that everything was fine during the Tulip Mania and the Housing Bubble of 2008. Both have come crashing. They all do.

About bitcoin always say and much and often. It attracts everyone when the price goes up and when it falls.
Therefore, such analysts will always exist. It seems they finally accept peace with the fact that bitcoin is a crypto currency certificate

[CryptoBry]

Maybe it is really time for many analyst to look at Bitcoin as different from any other investment vehicle. I mean comparing Bitcoin to any other bubble in the past can be a form of injustice. Tulip bubble? Would you compare Bitcoin to a tulip? That is crazy, if you ask me.

I am not saying there would be no corrections or small bubbles as some would call them. That is just natural to happen because we are in an open market...things are still based on the law of supply and demand. Bitcoin is a different animal and we have to look it that way.

[TraderTimm]

There are 19 TRILLION reasons Bitcoin will be rallying hard.

Just the debt in America is enough to see to that. What you are seeing isn't just Bitcoin moving up, but a true reflection on the fading buying power of fiat currencies.

There's a lot of room left for Bitcoin to run.

[iram1011]

Bitcoin has a huge potential market in front of it i.e. about 99% of world's population which is turning towards Bitcoin at fast rate because of many reasons. Bitcoin has successfully grabbed the attention of investors and is surpassing many other assets in terms of ROI and risk. Price will keep on booming. This is not a bubble but an actual growth. Growth started since April. The dip in July wasn't a correction but uncertainty created by fork. Price is in uptrend since long now.