With the Bitcoin SegWit vs. BU situation some of the BTC maximalist are saying that we are in a bubble that is about to burst since BU has a bug which should frtify SegWit and eliminate the chain splitting possibilities
Thing is this entire time our alts have been growing, BTC was not dropping. What we got was new money into the cryptospace as a whole. This seems like an exciting time. Lots of profits on every alt I jumped into prior to the pumps, in my case all my early moves climbed the market cap listings. BTC being less likely to split ends the chances of the whole cryptospace entering a recession
"We aren't in a bubble" but then he goes on to explain basically exactly what a bubble is. It's new people joining the fun with new money because they are worried about "being left behind" since they see everyone else making profit. It's irrational because people make these decisions purely on emotions such as greed & fear, that's what makes a bubble a bubble. As long as new people join, the bubble continues (sound familiar anyone?).
To argue we aren't in a bubble is to say that many of the shitcoins being pumped right now have real world value. (digibyte? Dnotes? Naut? a few prime examples)
I think it's 100% more likely that people look at the graph and see it rising and say "rising is good" and buy some lol. That's about as far as most people's "technical analysis" goes. It's irrational exhuberence, the fear of being left behind.
It's also the same emotions that causes friends & family members to want you to "invest" their money for them because they see you making good profits right now, little do they realize most of us have been holding for over 2 years now!
That doesn't mean I think the bubble is going to pop soon, tbh I think we are just getting started. Let's just not try to rationalize something that is inheritly irrational by nature. Let the price & volume do the talking, as truly no one knows what comes next.
