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Author Topic: Bitcoin is out of control, soaring 57% this week  (Read 966 times)
briannguyen
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March 22, 2013, 11:52:31 AM
 #1

http://www.bitcoinrumors.com/2013/03/22/bitcoin-is-out-of-control-soaring-57-this-week/

So we have seen a steady increase in price of Bitcoin vs USD and many other currencies. It is a bubble and when the bubble is too big, will it crash? Do you think BTC price will repeat similar like gold price? Gold bully in 2010-2011 and slow down in 2012-2013. Will it be like gold price or will it be like US house price?

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March 22, 2013, 11:55:44 AM
 #2

In my opinion it looks like a bubble, but is isnt. Europe is going down, people is starting to have interest and is understanding BTC is a better alternative to fiat currency, nobody control your BTC, no frozen funds (Paypal?), no banks stealing your money or using it for unknown investments...

I think the BTC may drop a little bit but never again to $5 or less like a year or so ago. Maybe we will see BTC by end of year at $200!

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March 22, 2013, 11:58:35 AM
 #3

Will it be like gold price or will it be like US house price?
As long as there is bad economic news and positive Bitcoin news, prices will keep climbing I guess.
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March 22, 2013, 12:00:43 PM
 #4

It might be a bubble. Or it is not. I'm more interested in understanding what causes the current run. Its increased demand of cause, but what is this based on?
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March 22, 2013, 12:01:52 PM
 #5

$200, I think if its growing speed keeps like atm, by end of the year the price should be at least $300. adding approx. $100 per 4 months

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March 22, 2013, 12:03:42 PM
 #6

Bitcoin is simply correcting a bit closer to fair value after a prolonged period of irrational pessimism.

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March 22, 2013, 01:19:07 PM
 #7

150+$ till end of year

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March 22, 2013, 01:23:14 PM
 #8

Bitcoin is simply correcting a bit closer to fair value after a prolonged period of irrational pessimism.


Maybe.

But remember, just one hack, or one failure on MtGox/Coinlabs transation, and the price will at the very least drop for a short period.

That alone shows that the price is not based on it's "actual" value, but more n the trust of it's value increasing (i.e. speculation).



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zhu_lianbing
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March 23, 2013, 02:24:10 AM
 #9

It is a big bubble of Bitcoin.
Feldspar
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March 23, 2013, 02:53:18 AM
 #10

Bitcoin is simply correcting a bit closer to fair value after a prolonged period of irrational pessimism.


Maybe.

But remember, just one hack, or one failure on MtGox/Coinlabs transation, and the price will at the very least drop for a short period.

That alone shows that the price is not based on it's "actual" value, but more n the trust of it's value increasing (i.e. speculation).

True.. the fork obviously didn't have any lasting impact on price, however, so I think that's a pretty good sign.

I personally think that a lot more European-based bitcoin businesses are going to start cropping up in the immediate future, and as those develop, it might help the value and true utility of BTC rise.
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March 23, 2013, 02:58:22 AM
 #11

This is a very nice rationalization.  Grin

You are saying that market is bearish because it is ignoring bearish news. Nicely played. Keep deluding yourself.

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March 23, 2013, 03:23:19 AM
 #12

It may be a big bubble, but there are so reason for higher pricing. However, how many people use Bitcoin for actual payments and how many are only investors?
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March 23, 2013, 03:34:15 AM
 #13

It may be a big bubble, but there are so reason for higher pricing. However, how many people use Bitcoin for actual payments and how many are only investors?

nobody in their right mind will exchange bitcoins for anything else, its like selling a golden goose
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March 23, 2013, 03:35:01 AM
 #14

I buy real stuff with bitcoin... occasionally.

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TheDarkBanker
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March 23, 2013, 05:10:09 AM
 #15

Some of us HAVE to use bitcoins to pay for certain things like VPNs and VPS hosting. It's not always about investing, that's partly why demand for bitcoins has increased. One is investing value, but two, with the recent laws threatening net neutrality worldwide, anonymous payments to anonymizing services halfway around the world are starting to become desired things.

Or to be more outrageous, maybe some geeky hacker kids with stolen money just wanna feel tough and pretend to be a drug cartel or something. Money laundering lol. Maybe they pull pranks and send drug shipments to people they don't like, who knows XDDD

One thing's for sure, bitcoin is never boring XDDD

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March 23, 2013, 08:35:44 AM
 #16

Think it just burst .. was at about 73 -74 yesterday and now its at about 63.. maybe the whole money laundering association by US..
Im not to worried about the burst tho, according to Cyprus when the banks screw people bitcoin goes up!! The world is going nuts right now and people, banks , governments and even brothaman from the 5th floor are bound to add fuel to the fiya!



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wopwop
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March 23, 2013, 08:57:25 AM
 #17

Think it just burst .. was at about 73 -74 yesterday and now its at about 63.. maybe the whole money laundering association by US..
Im not to worried about the burst tho, according to Cyprus when the banks screw people bitcoin goes up!! The world is going nuts right now and people, banks , governments and even brothaman from the 5th floor are bound to add fuel to the fiya!




Haha no this is just weak hands selling to super strong hands

I myself am buying hands on fist right now cheap coins last chance to buy at these low prices
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