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jossiel
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May 11, 2017, 01:10:58 PM |
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I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?
The phase is very fast and I didn't expect that this is going to happen that fast too but it happened and it's very good for us. I don't think that the price is overvalued now because it is going to keep on moving to higher price. Good news and everything about the adoption of bitcoin is the reason why the price is moving fast. |
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1Referee
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May 11, 2017, 01:18:24 PM |
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Currently, I do believe that the price is overbought (MAX 20%). But in current circumstances it's more or less 'normal' since people are buying in panic (act now think later stuff). The price might go up further from this point, but I seriously believe that the $2000 level will form a heavy resistance barrier. In that regard, I believe that a relatively strong correction is imminent very soon. I am waiting for this shake-out to happen, because it will allow coins from weak hands to flow into stronger hands.
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AjithBtc
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Vave.com - Crypto Casino
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May 11, 2017, 03:38:03 PM |
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This time there is no over valuation in the bitcoin price. The reason is that bitcoin now doesn't have any of the external force pushing the price forward, same as that China does in the past which caused a pumping and dumping took place when the fake volume issue.
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BrewMaster
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May 11, 2017, 03:54:33 PM |
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currently price may be higher than it could have been and there is a big chance of some correction time up ahead when price drops and stays low.
but i strongly disagree with the notion of calling bitcoin price "overvalued". it is actually undervalued.
there is still a very small amount of bitcoin available for the whole world, the same 21 million which about less than 16 million is available considering all the lost coins. and with all the adoption and new investors it means price should be a lot more than this. $1827 seems as stupid as the 2009 $10 sounds
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There is a FOMO brewing...
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iv4n
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May 11, 2017, 04:14:29 PM |
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This time there is no over valuation in the bitcoin price. The reason is that bitcoin now doesn't have any of the external force pushing the price forward, same as that China does in the past which caused a pumping and dumping took place when the fake volume issue.
I agree with this, price of bitcoin can`t be overvalued. Price of bitcoin depends mostly from supporters, demand and supply, we know that with this big players can manipulate, but some things happened that making the price grow, adoption on massive level, Japan have more then 130 million citizens and their government give them blessing to use bitcoin now. Time will tell the truth about bitcoin, here we are supporters and users and we have good opinion about bitcoin future, but other people doesn`t share our believes. Look at this article, The Chinese author of this article is Ou Chengxiao, often nicknamed”Ou Guru” for his successful investment in real estate, he claims that bitcoin price is 1000 times overvalued: http://news.8btc.com/the-price-of-your-bitcoin-is-1000-times-overvalued |
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watermark
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May 11, 2017, 04:57:10 PM |
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I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?
Is it possible that whales are pumping the price right now to keep it high and they will sell at some point? |
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d@nte
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May 11, 2017, 05:51:26 PM |
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I would say it's undervalued. If people are giving a market capitalization of $ 7 billion to Ripple, Bitcoin should be in the $ 70 billion market capitalization or more.
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ekoice
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May 12, 2017, 11:44:13 AM |
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Japan news is obviously affecting everything but this rise is officially crazy at this point. which, to be honest, makes it a bit scary to me. i think we all were expecting a rise after the big dip of earlier this year and after all the drama and FUD cleared from the community, i was also expecting an easier rise above $1000 in general, you know because below that price had already happened and everyone had targets for 2 or 3 years to sell or do something at $1000 mark but above it (like $1500) is new and nobody had any strict plans of "this is the end" kind of deal.
and that mentality alone removes a lot of the sell pressure on the market and can make the rise so much easier.
Yeah this great to see on one hand but it's also a bit too fast how we move up at the moment. Imo the market may try to push to $2000 and then some correction may happen.Hopefully not too much. Japan is definitely kicking in as fuel for the price rise. Australia by the way is going to remove goods and service tax on bitcoin and other crypto currencies soon. This may push the price a bit as well. Yes the price has reached much higher than what it was predicted to be.Its a little bit scary.But we could definitely say that bitcoin price is not manipulated this time.developments in japan and Australia may be one of the main reason for this price increase. |
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stikonas
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May 12, 2017, 12:07:59 PM |
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Is it possible that whales are pumping the price right now to keep it high and they will sell at some point?
It's not whales. Whales can't pump the price up. It's the HODLers. If everybody just HODLed the price would go to infinity. |
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Paya
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May 12, 2017, 12:35:43 PM |
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As I've repeteadly been saying, price we see is unrealistic and almost completely based on speculations. News from Japan are hugely overestimated. Besides that, nothing really big happened to justify this rally. And we still have pretty serious technical issues that must be solved.
As (mostly) a hodler, I just hope that the incoming crash correction won't be too hard.
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Slark
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May 12, 2017, 12:43:09 PM |
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I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
It was quite unexpected that bitcoin's price rose so high, we broke one record after another. Market is exhausted by that amazing bull run, and price correction is the natural next step. I don't think that bitcoin is overvalued in general, on the contrary it is still undervalued by several thousands dollar IMO. Reasons behind present high price: Japan accepted BTC as a legal form of payment and the SECs announcement that COIN ETF will get another chance. |
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carlisle1
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May 12, 2017, 01:05:03 PM |
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Yeah this is the reason why bitcoin price goes overvalued.
I personally believe that the price will go over $3000 soon because many other territories are yet to anounce it a legal currency. Those who retain bitcoins, will get huge profits i think.
what do you mean by overvalued ? well the bitcoin's price will never be overvalued it just simply goes higher  by the way, it's really great that another country has legalized bitcoin and became a reason of a huge increase but probably that's not the only things that affected the bitcoin's price . anyway, I hope that there are more country who would do the same thing as japan did so that it would help bitcoin to become more recognized . |
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Kemarit
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May 12, 2017, 01:37:03 PM |
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I couldn't imagine the price will touch at $1,800 plus I was wrong with my speculation past few days .. that the price can be stay at $1,700.
Do you think guys the price of bitcoin today is overvalued?
Or this is just because the price was rise because of the good news about legalized bitcoin in japan country?
Is it possible that whales are pumping the price right now to keep it high and they will sell at some point? Whales will always be there to pump the price. But if you are saying that they are manipulating it and selling it at later time to profit is highly unlikely. Again this is not 2013, this is not a bubble. This are legit investors coming from Japan market. Trading volumes also indicate that Japan is leading the way. If whales want to sell, then they can do it with minimal impact to the price. Because we have a country now that is supporting the bitcoin ecosystem. And even if whale sells, new investor will be showing up because bitcoin price has been more stable and trusted. Australia, China, India, Switzerland are also showing good interest to legalized bitcoin as well. So no, manipulation of price of bitcoin now is very difficult specially for the whales. |
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ice18
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May 13, 2017, 04:04:28 AM |
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And its already 1600 as of now and still continuing to dive , I have converted my btc to my local currency temporarily for another possible price decrease...
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batang_bitcoin
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May 13, 2017, 04:35:41 AM |
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And its already 1600 as of now and still continuing to dive , I have converted my btc to my local currency temporarily for another possible price decrease...
It is close again to $1,700 I don't worry at all, this is just a normal movement of bitcoin's price. And I guess it's getting ready for a real bubble and with that bubble it's very possible that the price can reach to $5k up to $10k and after that price increase then the bubble will be popped very soon. |
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el kaka22
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May 13, 2017, 05:53:50 AM |
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And its already 1600 as of now and still continuing to dive , I have converted my btc to my local currency temporarily for another possible price decrease...
It is close again to $1,700 I don't worry at all, this is just a normal movement of bitcoin's price. And I guess it's getting ready for a real bubble and with that bubble it's very possible that the price can reach to $5k up to $10k and after that price increase then the bubble will be popped very soon. It maybe a bubble but the chances to get burst will be very less when its appreciations happens along with mass adoptions. Yes, not just the same traders and investors keep buying bitcoins but new investors from around the globe are rushing into bitcoin as new peaks of bitcoin makes them interested to move their investments from stocks and gold into bitcoins. As long as bitcoin is being covered for massive rally and for impressive market cap, I guess this will keep on happening and hence there will be no chances for the bubble to pop up. But I agree there would be more possibilities for corrections time to time as its is just part of any trading, those fluctuations are just another entry point for new investors. |
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freedomno1
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Learning the troll avoidance button :)
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May 13, 2017, 07:52:44 AM |
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The real question will be asked if we near the $2000 wall $1827 is unlikely to be the peak in my opinion.
The question today is if it is overpriced for this date in time which I believe is possible, in the long run though maybe not mass adoption and growth will validate the price given longer periods of time but at this point in time perhaps it is.
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Believing in Bitcoins and it's ability to change the world
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Pursuer
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Where is my ring of blades...
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May 13, 2017, 07:57:47 AM |
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Is it possible that whales are pumping the price right now to keep it high and they will sell at some point?
It's not whales. Whales can't pump the price up. It's the HODLers. If everybody just HODLed the price would go to infinity. if everyone holds then price stays stable! you have to buy bitcoin for the price to go up and you have to sell it for it to come down. and in the past years people have been buying more and more bitcoin, and although many of them are just holders but many more are new people with new money coming in to buy more bitcoin. |
Only Bitcoin
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arbitrage
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May 13, 2017, 07:59:09 AM |
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It is at least an order of magnitude overvalued and it will pop soon!
Proper TA put's a supported price around 700-900 usd with a true target value of around 500 usd.
This is very serious claim, and i would like to hear some explanation if possible. I also think this price is high and pumped by the news, and will correct but i think won't go under 1k. Why 500$? And that is all considering we can maintain current core situation which is almost sure we cannot.
The hardfork is pretty much imminent with 46% BU support and growing. Only 4% to go before we have the hardfork.
It will not just crash the price it will oblitterate it. Bitcoin will sink into the abyss as a low value altcoin.
I believe those statements are over exaggerated, whatever happens price will correct and will continue to rise. Too many people believe in BTC! |
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batang_bitcoin
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May 13, 2017, 08:59:50 PM |
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And its already 1600 as of now and still continuing to dive , I have converted my btc to my local currency temporarily for another possible price decrease...
It is close again to $1,700 I don't worry at all, this is just a normal movement of bitcoin's price. And I guess it's getting ready for a real bubble and with that bubble it's very possible that the price can reach to $5k up to $10k and after that price increase then the bubble will be popped very soon. It maybe a bubble but the chances to get burst will be very less when its appreciations happens along with mass adoptions. Yes, not just the same traders and investors keep buying bitcoins but new investors from around the globe are rushing into bitcoin as new peaks of bitcoin makes them interested to move their investments from stocks and gold into bitcoins. As long as bitcoin is being covered for massive rally and for impressive market cap, I guess this will keep on happening and hence there will be no chances for the bubble to pop up. But I agree there would be more possibilities for corrections time to time as its is just part of any trading, those fluctuations are just another entry point for new investors. Yes that's the right term for it, on what's happening right now is a correction. Thanks for clarifying and clearing it to me. It's like the balance of the economy and as well as the price of bitcoin. I'm loving it more this way when seeing after a price increase and then there would be some price fall, because we'll expect another increase very soon. |
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