Is it expected for this Bitcoin spike to go down?

[lsaleh]

I recently heard about Bitcoin, and reading about it, it seems to be a wise investment to put some money on it. Now, checking the price charts, it seems there is a spike in price these days, is it expected to go down? or it will keep going up due to the demand and hence it might be a good time to buy now?

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[rekinthis]

I recently heard about Bitcoin, and reading about it, it seems to be a wise investment to put some money on it. Now, checking the price charts, it seems there is a spike in price these days, is it expected to go down? or it will keep going up due to the demand and hence it might be a good time to buy now?

Of course it is expected to go down, it is just another bubble like it happened in 2013, it's happening all over again in 2017. Just think about it: there were like 40 billion us dollars invested in all the cryptos a few weeks back, what means there were 40 billion dollars invested in almost 9 years of us having bitcoin. Right now there are almost 90 billion dollars invested. It is just unreal, it is impossible that the adoption rate is so fast, there must be tons of speculation happening and the correction sooner or later is inevitable. The only thing is that the faster it happens, the less harm will be done to bitcoin.

[TheWallStreetCrew]

Bitcoin is a fad!! Ha ha. No its a ponzi scheme! No Its a bubble. No its DEAD. But whats behind so that it has any value?  I would stay away (all sarcasm)  

[Rabber]

Just my 2 satoshis.

If I didn't already have any bitcoin, I would definitely buy some now.  You can always buy more if the price drops and lower your average cost. I do believe the current price is far lower than where it will be in 5 years, of course, I could be wrong. 5 years ago there were very few people who thought it would be where it is today or there would be a lot more bitcoiners worth millions. There were people who have been bashing bitcoin and predicting its failure since the beginning. If only they had invested a little back then....

[SwagGirl]

It might spike down but so what that's normal of any asset. It spikes up more than it spikes down. Buy and hold.

[Minecache]

There's too much geopolitical instability across the world these days and Smart money is looking for a safe untouchable haven. Hence the wall of money literally pouring into Bitcoin and the cryptosphere.

[Yakamoto]

I recently heard about Bitcoin, and reading about it, it seems to be a wise investment to put some money on it. Now, checking the price charts, it seems there is a spike in price these days, is it expected to go down? or it will keep going up due to the demand and hence it might be a good time to buy now?

It probably is another spike like the one that we were seeing back in 2013, the charts all point towards it and I doubt it will last, although there have been some moderate corrections so there's no real telling where the market will fizzle out. It has a lot of energy right now.

I'd say sometime within the next month we'll see the bubble burst, otherwise, if it doesn't, there is a good chance we may be stuck here.

[emezh10]

I really expected this to happened i mean we know that it is always happening when the bitcoin price in the market quickly go up we know that the bitcoin price where also going down fast so i guess i was expecting for the bitcoin price to spike down at a really low price i guess.

[odolvlobo]

The more people expect the price to continue rising, the more it is likely to crash.

[MingLee]

I really expected this to happened i mean we know that it is always happening when the bitcoin price in the market quickly go up we know that the bitcoin price where also going down fast so i guess i was expecting for the bitcoin price to spike down at a really low price i guess.

Just look at the historical charts if you really want to see some of what happens with the market once a bubble bursts. Typically it gets pretty bad over time, but there is always another bubble ready to show up. History repeats itself and things get real good before they get bad again. I won't be surprised if we see this happening in another cycle.

[BitcoinUKmedia]

You know what they say - what goes up must come down...

[xuan87]

It will go down at one point, because bitcoin price is based on market, the price go up because there are a lot of demand and at one point people will sell the coin to make a profit and at the other hand another people will buy again, so it will go down but seeing from the chart it won't go down for a long time because seems like there are so many demands lately

[JimboToronto]

Yes, I expect it to go down a bit every day, as it has throughout this rally.

I also expect it to keep going up an pretty much a daily basis.

This has hardly become a bubble. People who call it a bubble are mostly noobs who have never seen a real Bitcoin bubble.

Going up a few hundred percent in a year is not a bubble. Going up 1000% in weeks is a bubble.

[European Central Bank]

Just think about it: there were like 40 billion us dollars invested in all the cryptos a few weeks back,

nowhere near. you're thinking market caps. that's completely different than genuine dollars invested. if it was 40 billion real dollars then bitcoin would be in the tens of thousands.

[n0ne]

Yes, I expect it to go down a bit every day, as it has throughout this rally.

I also expect it to keep going up an pretty much a daily basis.

This has hardly become a bubble. People who call it a bubble are mostly noobs who have never seen a real Bitcoin bubble.

Going up a few hundred percent in a year is not a bubble. Going up 1000% in weeks is a bubble.

Several users have quoted it to be a bubble. Whether it's a bubble or a real growth the innovation is always appreciated by the users as well the people around the world. In the past an ath happened causing a sudden spike which is the bubble as the rally started to move downtrend in a short. Right now things were different that every price increase has got the investment inflow.

[RoommateAgreement]

at some point this rise will slow down and then stop and finally reverse because no rise can continue forever, but that point is not here yet and probably won't be for at least a couple of more weeks.

there are just a lot of things happening right now that are fueling the rise. like the Chinese coming back to trading scene because their 3 biggest exchanges opened up again.

[rajasumi3]

The price will continue to rise and in the near end it might happen it bobble up after the price hike be stopped in 3000$.But by the end of 3000$,it will pop down and the price down will be very drastic.

[JimboToronto]

But by the end of 3000$,it will pop down and the price down will be very drastic.

Why $3000?

We're already almost to $2600 and the bubble hasn't even started yet. We should pass $3000 within the week.

We're still getting sizeable daily corrections to keep this from running away with itself.

This isn't some company's post-IPO stock trading on some retail stock exchange. This is a new asset class and we're all early adopters.

We haven't even begun the vertical phase of the adoption curve. If Bitcoin were a company, we'd all be venture capitalists. The IPO would still be a long way off.

[pooya87]

I recently heard about Bitcoin, and reading about it, it seems to be a wise investment to put some money on it. Now, checking the price charts, it seems there is a spike in price these days, is it expected to go down? or it will keep going up due to the demand and hence it might be a good time to buy now?

it IS going down every day at least once or twice. and that is the correction, sometimes it is 50 bucks sometimes bigger, just to take a breath momentarily.
but since the demand is still there and very hungry for more bitcoin with a lot of money at hand, the price jumps back up and continues rising up again with a fresh breath.