The truth about the current bubble

[zodiac3011]

This is surely one big bubble. Yesterday I saw bitcoin's price at 340 today's 440 100 dollars in less than one day? No way! This is too good to be true and there's something fishy about the price

[1714951631]

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[1714951631]

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[Possum577]

did you read this because you hope it is just a bubble?
you sold everything yesterday and hope that the price goes down to buy again?

please be honest.

I read this because I thought you knew the truth of who was buying into the price and running it up...but alas you are like everyone else. No explanations only speculation.

I did not sell. I do not home the price goes down again.

[Furio]

Nope, but it's still rising too fast, something still looks fishy.
And I hoped for some possible answers, not for silly games 

Bitcoin was HEAVILY underrated, it is the first, it is the most prooved and accepted, also the network couldnt be maintained with the price bitcoin had the last year, power costs money

[coinpr0n]

Not sure about bubble specifics just yet, but the growth does seem to be unsustainable - the important factor for me is where we may stabilize afterwards. If we go all the way back down to $200 then I think we can say for sure it was a bubble.

[Amph]

No doubt in my mind that this is a bubble. Unfortunately, there is no way to know how high it will go before it pops. My strategy is to hedge by selling small amounts on the way up and the buy it all back after the bubble pops.

isn't better to buy all the way up and if it pop you start selling? in this way if it not pops you have a good stash of coins, and if it pops you have also your profit

with your strategy if it will not pops or it will half pops(price correction at 600+ after a dump from 900-1200 for example) you will lose more

i can be sure that we won't see again 1200-230....never seen a strong bubble repeating itself in exact same way

[NUFCrichard]

I bought last time at under $300, as long as the price is higher than that, I am happy.
If the price goes crazy and I feel it is a bubble, I will sell.  Last time I did that too early at $800, but we will see what happens, no doubt if the rise continues at current pace, people will start chasing the market upwards and get carried away.  I don't know what price that would be though.

I won't be averaging up though, I bought a while ago and am happy with my holding.

[btcsharehub]

Honestly I thought it was going to stop at around $350. I sold everything at that price.. but it seems like it just doesn't know where to stop.

I bought back 50% of what I had and I am going to hold it.. $100 per day is too good to be true though!

[Hamuki]

This is getting crazy!

Why is the price going up like crazy right now???

[btcsharehub]

This is getting crazy!

Why is the price going up like crazy right now???

History, in the making.

[StefanJ]

1)Chinese capital control implemented early this september, making it harder for the 150 billion dollar currently flooding out of China every week to make it through.

2)Chinese officials "unofficially" declaring bitcoin legal to trade through banks, causing mass buying and lots of new btc-startups. (When they made it illegal it made the last "bubble" crash because of the news that went worldwide)

3)EU court declares bitcoin a taxfree asset.

http://cointelegraph.com/news/115533/bitcoin-price-bulls-driven-by-china-as-weekly-rsi-nears-2013-levels

Read the news instead of speculating the price guessed on hunches. 

[gentlemand]

3)EU court declares bitcoin a taxfree asset.

It's not tax free. It's just been declared VAT free to buy and sell like all other currencies. Individual countries have different rules regarding capital gains. If it was declared capital gains free then that would have people running.

[DiamondCardz]

well, thats it?

going down again. or just like the short stop @330$ and up agin?

now 458 @bitstamp

Could be the start of a bubble popping or just a slight correction/draw back, there's no real way of knowing this early on. Just hang on and enjoy the ride, the price is really turbulent and changing REALLY fast right now.

[Betwrong]

did you read this because you hope it is just a bubble?
you sold everything yesterday and hope that the price goes down to buy again?

please be honest.

No I didn't sell a satoshi. And I'm not going to start selling even it goes over $500 again (now its $458 btw). Why would I? I don't have so much Bitcoins that selling them even at $1k would make a big difference in my life. I just like to have some Bitcoins thats all, I'm not going to sell them. )

[odolvlobo]

No doubt in my mind that this is a bubble. Unfortunately, there is no way to know how high it will go before it pops. My strategy is to hedge by selling small amounts on the way up and the buy it all back after the bubble pops.

isn't better to buy all the way up and if it pop you start selling? in this way if it not pops you have a good stash of coins, and if it pops you have also your profit
with your strategy if it will not pops or it will half pops(price correction at 600+ after a dump from 900-1200 for example) you will lose more
i can be sure that we won't see again 1200-230....never seen a strong bubble repeating itself in exact same way

Your strategy of buying on the way up and selling just before the bubble bursts won't work because you don't know when the bubble will burst, so you will be buying at the top and selling at the bottom.

My strategy is a hedging strategy. If there is no bubble, then the value of my bitcoins will be higher, but lower than it could have been. On the other hand, if there is a bubble, then the value of my bitcoins will be higher than if I did nothing. Either way I'm ahead.

"i can be sure that we won't see again 1200-230 ..." <--- Pure speculation.

[Pathi]

I sold between 350 and 400. Just spent my last .5 btc on some ltc on bittrex. Planning on buying back under 300.

[alnoor1231]

Alright, so from what has transpired so far, I think we can agree that this spike in price is unnatural and highly suspicious. Clearly someone or some group of people are behind this sudden surge in price....

The prime suspects imo are:

1. Winklevoss twins. The brothers have just opened shop for their new exchange "Gemini." A price spike now would spur interest in Bitcoin and by extension, their trading platform.

2. China: This country is usually the culprit when it comes to price pumping. Not to mention the Chinese exchange Huobi is where the price seems to be the highest. And with the news about the devaluation of the Yuan, it makes perfect sense that wealthy Chinese would start buying up BTC in handfuls and as a result, raising prices.

This doesn't seem like just some random hike in price. It reeks of conspiracy. Someone or some people are pulling the strings here...
Perhaps both suspects are contributing? Then again, it could be neither of them and I may just be rambling on with my tin foil hat

[Amph]

No doubt in my mind that this is a bubble. Unfortunately, there is no way to know how high it will go before it pops. My strategy is to hedge by selling small amounts on the way up and the buy it all back after the bubble pops.

isn't better to buy all the way up and if it pop you start selling? in this way if it not pops you have a good stash of coins, and if it pops you have also your profit
with your strategy if it will not pops or it will half pops(price correction at 600+ after a dump from 900-1200 for example) you will lose more
i can be sure that we won't see again 1200-230....never seen a strong bubble repeating itself in exact same way

Your strategy of buying on the way up and selling just before the bubble bursts won't work because you don't know when the bubble will burst, so you will be buying at the top and selling at the bottom.

My strategy is a hedging strategy. If there is no bubble, then the value of my bitcoins will be higher, but lower than it could have been. On the other hand, if there is a bubble, then the value of my bitcoins will be higher than if I did nothing. Either way I'm ahead.

"i can be sure that we won't see again 1200-230 ..." <--- Pure speculation.

you don't need to know the exact top you only need a signal in terms of %, this signal can e a dump of 10%-25% or 33%, i would not go higher

"i can be sure that we won't see again 1200-230 ..." <--- Pure speculation.

never seen a bubble repeating itself in the exact same way, so no, it's not really speculation, is more speculative to say the opposite...

[Eastwind]

The recent rise is mainly caused by the media exposure of the block chain technology. Bitcoin is closely related to block chain technology. So bitcoin is bought.

The volume is big, which indicates the involvement of large institutions.

[nerFohanzo]

If this turns out to be a bubble, I really hope it will last for a long time. Currently +$400 is more than a decent price after being stuck at $240 for such a long time.

Yeah exactly we want this bubble to continue for a longer time, It was really exciting to see the value of bitcoins going high in last couple of weeks and I believe that the value will go much higher in coming months so at this stage I have sold a part of my bitcoins and made profit out of it and have kept rest for the future if the value reaches to the moon would surely sell some of it.

[Kprawn]

Why talk about a bubble at all? We should rather call it a price spike... because that is what it's doing... It goes up a bit (spike} and then flatten a bit after all the hype has died

down, but it trades above the level, where the previous spike were. If you look at the long term, it still goes upwards. A bubble grows bigger and then it pop and nothing is left.

The people who buy, when it goes down to the normal levels, are the people who are making the profits in the long term..  Take calculated risks, based on historical trends.

The day traders and speculators lose the most. Buy and hoard... long term hoarding is the key.