Breaking: Bitcoin OFFICIALLY touches $1,000

[QuestionAuthority]

Doubling in price in less than six months but it's not a bubble?

Waiting

It may have doubled in the past 6 months but this isn't a "bubble". December of 2013 was a bubble. For the past couple of years it's been a slow healthy climb up despite all odds including bitcoin being heavily criticized. I think the recent surge in price is only a culmination of that and isn't going to drop too hard. Even if it does, it will have needed it. It's been proven by looking at 2013 to present that bitcoin obviously has huge potential, so if it crashes again just ride it out like we did last time and eventually we'll break through whatever new record high we achieve this time.

What is a 'Bubble'
A bubble is an economic cycle characterized by rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior. When no more investors are willing to buy at the elevated price, a massive selloff occurs, causing the bubble to deflate.

~Bubble Definition | Investopedia http://www.investopedia.com

[MakeMoneyBtc]

my guide to see bitcoin price is preev.com , there the price is 992 $ so it is close to 1000$ and i am sure it will reach it very fast, happy new year to all bitcoin users 

[eddie13]

What is a 'Bubble'
A bubble is an economic cycle characterized by rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior. When no more investors are willing to buy at the elevated price, a massive selloff occurs, causing the bubble to deflate.

~Bubble Definition | Investopedia http://www.investopedia.com

So totally 100% warranted and then some..

[Huge Black Woman]

OH SNAP!!!  I ain't used ta da date bein' 2017 yet!  That snuff drives me nuts!
It's a dang good feelin' finally bein' in fo' digits instead o' three. 
Everybody here jumpin' around like this here's a ketamine rave an' all da fools dancin' and prancin' wit the pacifiers in they mout', and they ain't drinkin' enough water.  Y'all gonna dehydrate yoselfs if y'all keep this up.
I feel like what we call an innocent bystander, an' y'all flippin cars and settin' shit on fire.  Peace, dogs.

[fuathan]

BTC price is absolutely not a bubble when you look at the adoption (Venezuela, India, etc.) of it in world.

In fact, $1000 is not a high price. At the end of 2017 it will be $3000 or more...

[GMPoison]

Doubling in price in less than six months but it's not a bubble?

Waiting

It may have doubled in the past 6 months but this isn't a "bubble". December of 2013 was a bubble. For the past couple of years it's been a slow healthy climb up despite all odds including bitcoin being heavily criticized. I think the recent surge in price is only a culmination of that and isn't going to drop too hard. Even if it does, it will have needed it. It's been proven by looking at 2013 to present that bitcoin obviously has huge potential, so if it crashes again just ride it out like we did last time and eventually we'll break through whatever new record high we achieve this time.

What is a 'Bubble'
A bubble is an economic cycle characterized by rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior. When no more investors are willing to buy at the elevated price, a massive selloff occurs, causing the bubble to deflate.

~Bubble Definition | Investopedia http://www.investopedia.com

a surge in asset prices unwarranted by the fundamentals of the asset

The surge in asset prices is warranted, thus the current price isn't a bubble.

[shinratensei_]

BTC price is absolutely not a bubble when you look at the adoption (Venezuela, India, etc.) of it in world.

In fact, $1000 is not a high price. At the end of 2017 it will be $3000 or more...

No, try to read again about the definition of bubble. I don't think the adoption can be a strong reason for that. There is no strong explanation about the bitcoin adoption in there. Just take the popcorn and see the result. 


In fact? I will prefer it's a speculation.

[QuestionAuthority]

BTC price is absolutely not a bubble when you look at the adoption (Venezuela, India, etc.) of it in world.

In fact, $1000 is not a high price. At the end of 2017 it will be $3000 or more...

No, try to read again about the definition of bubble. I don't think the adoption can be a strong reason for that. There is no strong explanation about the bitcoin adoption in there. Just take the popcorn and see the result. 


In fact? I will prefer it's a speculation.

That's right, bitcoin is a purely speculative asset. It's price isn't determined by use. Bitcoin daily transactions has hovered between 200k and 275k for two years. Nothing has changed with adoption. You'd have to be a clueless baffoon to not see that.

What's changed is that people are buying it. That's speculation and a bubble. I'm benefitting from it by doing a slow selloff for every $100 jump over $1,000. If you run out and buy a bunch of coin right now and it pops don't come here whining like all the people that bought at $1,200 during the last bubble. Just hold on to it until the next bubble or until real adoption happens. It's just a waiting game and it's taken three years since November 2013 for it to rise up that far again.

[GMPoison]

BTC price is absolutely not a bubble when you look at the adoption (Venezuela, India, etc.) of it in world.

In fact, $1000 is not a high price. At the end of 2017 it will be $3000 or more...

No, try to read again about the definition of bubble. I don't think the adoption can be a strong reason for that. There is no strong explanation about the bitcoin adoption in there. Just take the popcorn and see the result.  


In fact? I will prefer it's a speculation.

That's right, bitcoin is a purely speculative asset. It's price isn't determined by use. Bitcoin daily transactions has hovered between 200k and 275k for two years. Nothing has changed with adoption. You'd have to be a clueless baffoon to not see that.

What's changed is that people are buying it. That's speculation and a bubble. I'm benefitting from it by doing a slow selloff for every $100 jump over $1,000. If you run out and buy a bunch of coin right now and it pops don't come here whining like all the people that bought at $1,200 during the last bubble. Just hold on to it until the next bubble or until real adoption happens. It's just a waiting game and it's taken three years since November 2013 for it to rise up that far again.

Nothing has changed with adoption? Like you said just look at the daily transactions... up and up and up and up. So where has the price of bitcoin gone? Up and up and up and up. Not just the past few weeks or months like you would see with a bubble, but the past few years. They're completely positively correlated, unlike in 2013 when that rise in price actually was a bubble, clearly even then by how quickly it rose and how much it was hyped up, unlike this time.

http://www.coindesk.com/data/bitcoin-daily-transactions/

[QuestionAuthority]

BTC price is absolutely not a bubble when you look at the adoption (Venezuela, India, etc.) of it in world.

In fact, $1000 is not a high price. At the end of 2017 it will be $3000 or more...

No, try to read again about the definition of bubble. I don't think the adoption can be a strong reason for that. There is no strong explanation about the bitcoin adoption in there. Just take the popcorn and see the result.  


In fact? I will prefer it's a speculation.

That's right, bitcoin is a purely speculative asset. It's price isn't determined by use. Bitcoin daily transactions has hovered between 200k and 275k for two years. Nothing has changed with adoption. You'd have to be a clueless baffoon to not see that.

What's changed is that people are buying it. That's speculation and a bubble. I'm benefitting from it by doing a slow selloff for every $100 jump over $1,000. If you run out and buy a bunch of coin right now and it pops don't come here whining like all the people that bought at $1,200 during the last bubble. Just hold on to it until the next bubble or until real adoption happens. It's just a waiting game and it's taken three years since November 2013 for it to rise up that far again.

Nothing has changed with adoption? Like you said just look at the daily transactions... up and up and up and up. So where has the price of bitcoin gone? Up and up and up and up. Not just the past few weeks or months like you would see with a bubble, but the past few years. They're completely positively correlated, unlike in 2013 when that rise in price actually was a bubble, clearly even then by how quickly it rose and how much it was hyped up, unlike this time.

http://www.coindesk.com/data/bitcoin-daily-transactions/

For the price to double you would expect to see at least a doubling of daily transactions (to more like 500-550k daily transactions) and a slow rise not a six month rise. This is obviously a bubble. I hope it lasts forever. That would be great. Just don't sink your last dollar in Bitcoin right now and be in pain in six months when you've lost 50% of your money. Spend only what you can afford to sit on for at least three years because that's what it took to get back to where we are now. I'm loving this rise but I do want people to be smart about it this time. That's all. Surly you can understand that.

[boyshx]

BTC price is absolutely not a bubble when you look at the adoption (Venezuela, India, etc.) of it in world.

In fact, $1000 is not a high price. At the end of 2017 it will be $3000 or more...

to be honest, adoption in Venezuela is not that high either (no yet at least), it's been growing but it's not as massive as some of u in bitcointalk thinks.

I don't know if its a bubble or not but I do know Venezuela is not driving the BTC rally.

[QuestionAuthority]

BTC price is absolutely not a bubble when you look at the adoption (Venezuela, India, etc.) of it in world.

In fact, $1000 is not a high price. At the end of 2017 it will be $3000 or more...

to be honest, adoption in Venezuela is not that high either (no yet at least), it's been growing but it's not as massive as some of u in bitcointalk thinks.

I don't know if its a bubble or not but I do know Venezuela is not driving the BTC rally.

I think most people realize it's China's involvement that's driving the price right now. Is China playing with Bitcoin like it's the flavor of the month or are they planning on holding for years? That's anybodies guess right now.

[boyshx]

I think most people realize it's China's involvement that's driving the price right now. Is China playing with Bitcoin like it's the flavor of the month or are they planning on holding for years? That's anybodies guess right now.

since chinese like to risk big and win big, and they didn't get their coins at 30$ let's hope they're here to stay for long.

[Simperson]

I don't care about the price of 1,000$ because it must be like that.
This price is not called to be the bubble because many people are using bitcoin as like as a payment method.
it is gradually replaced traditional currency transactions.

[QuestionAuthority]

I think most people realize it's China's involvement that's driving the price right now. Is China playing with Bitcoin like it's the flavor of the month or are they planning on holding for years? That's anybodies guess right now.

since chinese like to risk big and win big, and they didn't get their coins at 30$ let's hope they're here to stay for long.

Let's hope. I wish I could read the Chinese section of this forum. I tried to use google translate on a few thread  OPs and all I got was gibberish talking about chickens and donkeys or other related crap.

[Caladonian]

I don't care about the price of 1,000$ because it must be like that.
This price is not called to be the bubble because many people are using bitcoin as like as a payment method.
it is gradually replaced traditional currency transactions.

well you are correct since bitcoin is already been use to deal with big transaction it will affect the current price for sure it will not stay at 1000$ more or less it will bounce up a little bit more as many adoption will happen and many more investors will gain interest for invest with bitcoin as well we will see 1000+ for this first quarter of the year.

[Herbert2020]

this rise is turning into a crazy ride, it is 1014 USD right now on bitfinex!
i was watching the bitfinex history for a couple of hours last night and i saw lots of big dumps, a couple of 116BTCs at once and at least two dozen 10 to 30BTC sales every hour.

now with all these sales the price is still rising and that shows the strong buy support that is driving the price up n my opinion.

[Amph]

my guide to see bitcoin price is preev.com , there the price is 992 $ so it is close to 1000$ and i am sure it will reach it very fast, happy new year to all bitcoin users  

preev make rate by looking at the average data on all the exchange, but the peak it's clear, it touched $1000 on kraken, so you need tow ait for preeef to say that bitcoin reached 1k

and on some exchange it's already above 1k, we can touch 1200 this time

[mrkevio]

One day later than I expected! Haha, it's still great and amazing at the same time that we have reached this goal, finally. If we'll look in the past we'll see that the only time we reached this goal was after the 2012 halving. However, last time it took one year and a half to get here (100x increase), while it's been only a few months right now and we have already achieved it. Maybe we will look at a $100.000 price in late 2017?

[newIndia]

Doubling in price in less than six months but it's not a bubble?

Waiting

Many will lose heart as it happens. Just wait for one exchange to be hacked.

p.s. I'd call this price sustainable if global hash power rises in the same rate as of the price. That would push up the actual production cost of bitcoin.