DiamondCardz (OP)
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November 03, 2015, 06:12:56 PM |
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As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.
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BA Computer Science, University of Oxford
Dissertation was about threat modelling on distributed ledgers.
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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Betwrong
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I stand with Ukraine.
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November 03, 2015, 06:21:50 PM |
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As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.
I think if the price goes to $500 it may stabilize there for year or more and then it will start rising slowly again. But if it goes way over $500, yes, it will be a bubble. |
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Triple
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November 03, 2015, 06:24:18 PM |
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As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.
Now this is someone who knows what they're talking about. You're very correct in about being weary. However, this sort of thing has happened before the last huge increase and that was when BTC hit about 1000$ |
Available for Rent - 25 Posts $100/Week. PM me
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eternalgloom
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November 03, 2015, 06:25:34 PM |
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I really hope the market adjusts soon, luckily this isn't the same situation as in 2013/2014 with Mt. Gox.
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OROBTC
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November 03, 2015, 06:56:57 PM |
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As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.
Well, I don't know if/when the next BTC bubble starts. You might be right, such sharp two day moves (two days so far...) often are a sign that bubbles may be underway. Even in BTC, where HUGE moves are common. I am working on my own personal strategy of buying gold w/ BTC when the Gold:BTC ratio gets favorable (gold cheap in BTC). ounce.me shows that ratio at around 2.69, very cheap by recent standards. Everyone (or at least everyone who has children) should own some gold. Gold and BTC are a great pair of assets to own. |
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Amph
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November 03, 2015, 07:35:39 PM
Last edit: November 03, 2015, 09:44:43 PM by Amph |
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i think it's normal, it's how the increase work in a very unstable market like this
you can't simply expect that, all traders synchronize their trading activity and decide to pump step by step, it does not work in this way
1 buyer simply see the price rise and jump in, then the next one, then another one, and then you have the first, who buys again... and another parallel reaction like this will happen in the meantime and so on..
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DiamondCardz (OP)
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November 03, 2015, 08:48:39 PM |
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i think it's normal, it's how the increase work in a very unstable market like this
An "unstable market" is not normal nor good. Granted, Bitcoin is fairly unstable, but prior to recently it was pretty stable around the $230-$250 mark... you can't simply expect that, all traders synchronize their trading activity and decide to pump step by step, it does not work in that
1 buyer simply see the price rise and jump in, then the next one, then another one, and then you have the first, who buys again... and another parallel reaction like this will happen in the meantime and so on..
Until it forms a bubble and crashes. It's happened plenty of times bud. |
BA Computer Science, University of Oxford
Dissertation was about threat modelling on distributed ledgers.
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Decoded
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give me your cryptos
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November 03, 2015, 08:56:58 PM |
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i think it's normal, it's how the increase work in a very unstable market like this
An "unstable market" is not normal nor good. Granted, Bitcoin is fairly unstable, but prior to recently it was pretty stable around the $230-$250 mark... you can't simply expect that, all traders synchronize their trading activity and decide to pump step by step, it does not work in that
1 buyer simply see the price rise and jump in, then the next one, then another one, and then you have the first, who buys again... and another parallel reaction like this will happen in the meantime and so on..
Until it forms a bubble and crashes. It's happened plenty of times bud. Bitcoin is an unstable currency, so random jumps in price are normal. You just have to be aware and try to foresee a bubble popping, or someone faildumping and we all lose out. If only we had a certain day that everyone pitched in and dumped their bitcoin. That would help momentously. |
looking for a signature campaign, dm me for that
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Mickeyb
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November 03, 2015, 09:09:42 PM |
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China has just allowed their banks to deposit Yuan directly to the exchanges. No more vouchers and workarounds. You know what that means, don't you OP? This is just a begging, this bubble will be huge and it surely won't stop at $500 it seems to me!
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zimmah
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November 03, 2015, 09:33:42 PM |
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As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.
I think if the price goes to $500 it may stabilize there for year or more and then it will start rising slowly again. But if it goes way over $500, yes, it will be a bubble. that has never happened before, why would it start happening now? |
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DiamondCardz (OP)
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Activity: 1134
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November 03, 2015, 09:36:10 PM |
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Bitcoin is an unstable currency, so random jumps in price are normal. You just have to be aware and try to foresee a bubble popping, or someone faildumping and we all lose out.
If only we had a certain day that everyone pitched in and dumped their bitcoin. That would help momentously.
I've conveyed myself wrong, sorry. I know random jumps in price are normal for Bitcoin. These are not the ones we normally see though, and IMHO it's quite obvious that we are going to be walking right into a bubble. No-one knows when it will pop. |
BA Computer Science, University of Oxford
Dissertation was about threat modelling on distributed ledgers.
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NorrisK
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November 03, 2015, 09:36:35 PM |
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It has already corrected a bit a few hours ago. Back 20-30 USD in one candle.
I don't think we are ready with growing yet, but we are definitely starting to inflate a bubble here.
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Amph
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Activity: 3206
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November 03, 2015, 09:44:18 PM |
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i think it's normal, it's how the increase work in a very unstable market like this
An "unstable market" is not normal nor good. Granted, Bitcoin is fairly unstable, but prior to recently it was pretty stable around the $230-$250 mark... you can't simply expect that, all traders synchronize their trading activity and decide to pump step by step, it does not work in that
1 buyer simply see the price rise and jump in, then the next one, then another one, and then you have the first, who buys again... and another parallel reaction like this will happen in the meantime and so on..
Until it forms a bubble and crashes. It's happened plenty of times bud. it was not stable, i would call it "dead market", a market like this will always be unstable until we have major adoption, or real mainstream status until then heavy fluctuations like this is all you can have, because the marketcap is simply a big joke |
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MrsHash
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November 03, 2015, 09:56:35 PM |
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As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.
Agree with you. But everybody starts panic and also everybody wants to earn right know, only few people with experience are thinking about long term perspective |
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gentlemand
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Welt Am Draht
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November 03, 2015, 10:43:37 PM |
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China has just allowed their banks to deposit Yuan directly to the exchanges. No more vouchers and workarounds. You know what that means, don't you OP? This is just a begging, this bubble will be huge and it surely won't stop at $500 it seems to me!
What they giveth can just as easily be taken away. They weren't too happy with the last bubble. I wonder what they'll get up to if there's a proper explosion again. |
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Quickseller
Copper Member
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November 03, 2015, 11:03:26 PM |
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It is possible that we are in a bubble, it is also possible that the price was overly depressed previously, or it is a possibility that it is a mixture of the two. The price is very rapidly increasing which is somewhat concerning (FYI - at one point the 24 hour increase was above 22%, however the market crashed so now it is "only" up ~10% over the last 24 hours), although there is an argument that the price was previously lower then it should have been. In November 2013, the price of bitcoin went up every day except one when it went down ~50, or ~11.5% Do not start taking out loans against Bitcoin This is good advise. |
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jubalix
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November 03, 2015, 11:19:00 PM |
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we are in a bubble/revaluation
There will be a retracement..but when?, however consider the largest up was from a few cents to above a dollar.
I feel that 1000$ will be the new $1 and so on to $10K then $100K etc ever a 10 ~ 5 year horizon
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1990BEARS
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November 03, 2015, 11:25:04 PM |
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I am fine with small crashes, though I think to big of a crash will destroy Bitcoin confidence again.
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gentlemand
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Welt Am Draht
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November 03, 2015, 11:30:20 PM |
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I am fine with small crashes, though I think to big of a crash will destroy Bitcoin confidence again.
I think the present crop of holders has had their confidence battered enough to survive now. If it did reach thousands that would mean a lot of fresh blood and a lot of damage if there was an epic collapse. In theory it should level off if it becomes bigger as speculation makes way for more utility. That's a nice theory but I don't think people will be able to resist piling in. Perhaps we're stuck with this cycle forever. I hope not. |
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addy boy
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November 04, 2015, 05:20:05 AM |
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Well, I don't know if/when the next BTC bubble starts. You might be right, such sharp two day moves often are a sign that
bubbles may be underway. Even in BTC, where Huge moves are common. I am working on my own personal strategy of buying gold BTC when the Gold:BTC ratio gets favorable. me shows that ratio at around 2.69, very cheap by recent standards.
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