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Author Topic: [2017-05-27]Are Asian Markets Creating a Bitcoin Price Bubble?  (Read 5865 times)
DLbei638
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May 27, 2017, 02:09:12 AM
 #1

Bitcoin’s price has been rising so fast over the past two months people don’t know what to expect next. In Asia, the price is climbing higher than most western exchanges. Now many people are wondering how healthy the current price spike is and whether or not the digital currency is in a bubble that might be followed by a deep correction.
Cryptocurrency Fever In Asia Is Pushing the Price Upwards, but How Long Will It Last?

Are Asian Markets Creating a Bitcoin Price Bubble?
Charles Hayter, Crypto Compare.
Everybody is extremely focused on the price of bitcoin and a number of altcoins increasing in value exponentially. Some people think the digital currency’s value gains are moving too fast while others believe overall global demand supports the price rise. Charles Hayter, founder, and CEO of the cryptocurrency data analysis firm Crypto Compare reached out to Bitcoin.com and detailed his opinion of the situation bitcoin markets are facing.

Hayter believes the increase is a bubble formation but questions the level of speculation. Market bubbles can burst in a short period of time, but some bubbles have lasted years.

“Media begets more price rises and triggers more exposure and buying,” explains the Crypto Compare founder. “The ICO phenomenon is contributing too as traders wash in and out of the major cryptos chasing and pumping the next ten bagger.”

Japan, Korea, and Asian interest is causing the price to rise and dragging up Western prices on the back of regulatory moves as well as scaling — The party will end as Asian premia comes back into line with Western markets or even drag them down as panic selling takes hold. The exact trigger is yet to be seen although last time it was Mt Gox.
read more:https://news.bitcoin.com/asian-markets-bitcoin-price-bubble/
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May 27, 2017, 07:07:41 AM
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Well Japan has already adopted and embrace bitcoin making it a legal tender in their country, so I don't know if we can them creating a bitcoin bubble. While South Korean's enter the picture, I don't know about them but it seems that they are pumping bitcoin because some of the their exchanges have a premium higher price than Western exchangers. I still don't know what trigger the dumping right now, I still have to take a look at what's happening around before jumping into conclusion. Maybe this is just a correction that we have been waiting for. So its time to buy again before the price increases again.

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May 27, 2017, 07:27:45 AM
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The bubble is over.  The price just dropped by about 600 dollars and has stabilised, so maybe the writer of this took a few hours writing it and forgot to check the price afterwards  Wink
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May 27, 2017, 09:14:15 AM
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Asia is definitely contributing, but not to the extent of it being a bubble. In order to legitimately call it a bubble, it would have needed to break through $3000 and continue to move upwards - but at this point the market took a nose dive towards the South. I am happy that the market has gone down again as these shake-outs are needed to make coins from weak handed people flow into stronger hands. If I look completely unbiased at the markets, I would say that a price of $1500-$1700 would be a 'fair' bottom price. After that the demand will keep pushing the price forwards, but this time I hope in a slower but more sustainable way. Peaks don't last, and it once again got perfectly demonstrated.

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May 28, 2017, 01:59:12 AM
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In many nations the government's are printing money and devaluing so fast that the citizens are tired of seeing their hard earned efforts being devalued into a ponzi fiat pile of burning bull schitt....

So they're going to take whatever steps they have to to convert out of the fraud and into something real such as Bitcoin and precious metals.
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May 28, 2017, 08:08:48 AM
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Well Japan has already adopted and embrace bitcoin making it a legal tender in their country, so I don't know if we can them creating a bitcoin bubble. While South Korean's enter the picture, I don't know about them but it seems that they are pumping bitcoin because some of the their exchanges have a premium higher price than Western exchangers. I still don't know what trigger the dumping right now, I still have to take a look at what's happening around before jumping into conclusion. Maybe this is just a correction that we have been waiting for. So its time to buy again before the price increases again.

It is not just Japan and South Korea, the premium for Bitcoin is high in countries like India as well.
The craze was so much in India that exchanges imposed limits on purchases of Bitcoin.

https://cointelegraph.com/news/bitcoin-demand-explodes-in-india-overwhelmed-exchanges-put-limits-on-purchases
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