2017-12-13 Why Bitcoin is Now the Biggest Bubble in History,In one Chart

[B!t_Kong]

Tulip mania has nothing on the cryptocurrency craze

While proponents of the digital currency bitcoin argue that its massive price appreciation over the course of 2017 is only the latest step in a rally that will see it multiply several times over from its current levels, another analyst has a far different take: Not only is bitcoin a bubble, it is the biggest bubble of all time.

Source:
https://www.marketwatch.com/story/why-bitcoin-is-now-the-biggest-bubble-in-history-in-one-chart-2017-12-13?link=MW_latest_news

[Proton2233]

Many people have many opinions. It seems to me that in fact, bitcoin has two options. It can become a currency and the basis for the new free economy on the Internet. Can become a bubble if inside the bitcoin community will not consent. For example, I am sure that the legalization of bitcoin this is a hidden attempt to destroy bitcoin.

[1Referee]

General "expert" opinion on Bitcoin.

Bitcoin at $500 - way overpriced and it's based on nothing.
Bitcoin at $1000 - Bubble about to burst.
Bitcoin at $2000 - If you don't exit now, you'll regret it.
Bitcoin at $4000 - Biggest bubble the financial market has ever seen.
Bitcoin at $5000 - Signs of a bursting bubble are starting to show up.
Bitcoin at $8000 - It's a pyramid scheme fraud.
Bitcoin at $10,000 - It's officially over, the bubble has started to burst.
Bitcoin at $15,000 - It will likely go up to $50,000 before it starts to crash for sure.

I have noticed that these "experts" have started to throw with even higher predictions while they were predicting bubbles and crashes for years. What a sudden shift in mindset. I am sure that it will crash at some point, but the bottom we'll be touching will always be higher than the previous ones, and that's a fact that no one here can deny, even not those "experts".

[uslfd]

I think BTC has two very extreme futures:
1. it's a big success price could easily be $ six figure or even 7-figure
2. it becomes zero.

Honestly, no one knows how it would play out, so let's wait and see

[Guardian.P]

The meaning of such statements? Let these experts justify their word. Let them indicate the approximate date and what they will do if it does not happen. I think it will be more interesting

[BitHodler]

I have noticed that these "experts" have started to throw with even higher predictions while they were predicting bubbles and crashes for years. What a sudden shift in mindset.

They go with the flow. All their previous predictions haven't resulted in anything, which makes them as whatever expert look bad in the eye of the public, so they ride this hype out by going with the mass.

It's pathetic for sure, but in this case it doesn't hurt anyone. I rather see them just ride the hype out than continuing talking rubbish about Bitcoin. At least by going with the mass they won't look like a complete idiot anymore.

[Samarkand]

I think especially the older people, who make predictions like this are doing it due to their age.
They are not as tech-savvy as younger generations, who grew up with Social Media and instant
messaging services. Younger people pay digitally without any issues and therefore have an
easier time understanding and adopting a new technology like Bitcoin.

As people grow older their views are less flexible and therefore they are not embracing technological
change as easily as the younger generations. In my opinion this is one of the main reasons why
these predictions of guys like Buffett and so on always seem to turn out wrong.