Stop Calling It A Bubble.

[Vaccomundus]

True. I recently found a blog of when bitcoin was at 100$,I think  it will go to10k and 100k soon , definitely not a bubble.
Megaupload2.0 and Bitcache's  launch will be this august, price  will increase exponentially and bitcoin will consolidate as the best currency.

lol 100k now it's impossible but 10k is doable, but it won't be stable, it willr eturn to 3k or 5k

[ktabb]

Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

That is strange, because everybody who I see in real life is talking about bitcoin. CNBC posts like 5 articles per day about bitcoin. Awareness of bitcoin has never been anywhere remotely close to as high as it is today.

Furthermore, bitcoin's price has increased by nearly 300% in the last 3 months, but its adoption and intrinsic value has not increased by even close to that amount, meaning there is a growing disparity between value and price caused by the over-buying frenzy we are seeing today.

Lastly, bitcoin has formed bubbles over and over again consistently for as long as it has existed. Why is it that you think it is different this time? There were about a thousand posts on this forum in 2013 about how it is not a bubble.

[nejibens]

Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

I think you re right, despite the remarked rising of its price, Bitcoin still not yet known by everyone worldwide and it not yet the subject of the talkings of people. But it is also obvious that the increasing of price spread the word about Bitcoin lastly

[Eron]

Yes it's a bubble in the history of BTC, IMO.
It seems like late 2013, and if you just look at the graph I've made, the price is just folowing the red average line, so it should drop near 1500$ and stabilizing after that, why?
Because everybody who hold BTC wants benefits, because everybody need money even if they believe in crypto, and I do so, so selling now, taking benefits, then buying later when it is lower.... history is cyclic.
Now take a look at the asks/demands and you'll see that the demand is minor, so the price of BTC should drop.
Maybe I'm wrong, but I don't hold.

[BitHodler]

Eron ~ you can't compare current situation with how things were back in 2013. If you look completely unbiased, then without a doubt the peak back then was a 100% bubble.

Currently, the demand has been coming from all over the world, and can be seen as a legitimate form of growth. Is the price overbought? Maybe, but we'll see what happens.

I don't see anything bad in a correction of 10-20% in the coming weeks, and that's all normal in a speculative market, but there is no way I can see the price fall back all the way to the $1000 mark.

[Bit_Happy]

The famous Bitcoin Pizza which pegged the price of 10,000 BTC to ~$20 or $25 USD recently would have been worth about $28,000,000.

...We are at the very start of that exponential growth....

~$23 USD >> $28,000,000 is not "the very start of exponential growth"*, sorry.
*Edit: Price growth no longer a baby, "exponential growth" in usage is still possible, but....

Fees are high and merchants can't give refunds, so "exponential growth" in usage is NOT still possible, so...
Sadly, this long-term Bull is concerned we are promoting a Tulip Bubble Ponzi Mania, & I wish it was not so obvious.
 

[Vikingr]

I also do not call it as a bubble because I know it is a real increase in the price of bitcoin because of the increase of the real users of bitcoin and a bubble occur when there is a news of price increase to a specific value and people are waiting for that price and everyone sell panic at that stage and the price drop down again. But this time it is not the situation of bubble but people like and are adopting bitcoin for their living.

[asonganyi]

Like it or not the price rise is not a bubble. i like to deal with numbers. Check the starts.
1.) number of transactions has increased ( i mean real transactions like buying of goods and services and not buying to stuck and sell  for profit letter. these are mini transactions which mean the local man himself is in the game not only the gurus)
2.) market cap has increased break new all time high
4.) More and more people are trusting the technology and day passes
3.) The awareness is growing more and more people are knowing about bitcoin and crypto technology. Am from Africa and when i tell you more people are becoming aware i mean it. all people around me are wanting to know about this new tech and they are learning and getting in to it..
4.) More are more industries and technologies want to incorporate block chain technology in their business for all the crypto advantages. i mean banks are now incorporating block chain technologies in their transactions and other companies too are doing same in their own departments for different reasons that suits their interest
5.)every body here and there is accepting bitcoins.
6.)The rise of alt coins. the number of alt coins are growing exponentially meaning more and more people are begging to realize that every thing needs to go crypto. and believe me every idea you can think of now there is team trying to turn it in to crypto..

 my take ;;
  People are have begin to seeing the real value of bitcoin. for me the the price is just catching up with itz value and this is just the start.....
 the world is sick. people need something to trust (not some body because till date all those we have trusted has disappointed us in one way or the other) , people need transparency and above all people need freedom.
 testing period for crypto is over and people are now convinced...
 Yes it will always get some corrections here and there it may even go down to 1500 but certainly it will go up and within 10years to come a single satoshi will have a dollar price
 the rise in price is not a burble ,,

[Eron]

Eron ~ you can't compare current situation with how things were back in 2013. If you look completely unbiased, then without a doubt the peak back then was a 100% bubble.

Currently, the demand has been coming from all over the world, and can be seen as a legitimate form of growth. Is the price overbought? Maybe, but we'll see what happens.

I don't see anything bad in a correction of 10-20% in the coming weeks, and that's all normal in a speculative market, but there is no way I can see the price fall back all the way to the $1000 mark.

Hi Bitholder,
My bad I wanted to tell that it should drop about 1000$, not at 1000$, so between 1500/2000$ and I agree with you for the rest.
As I said it's a bubble in the history of BTC, not that BTC is a bubble, so it is clear that the price should go up after the correction

[fan_of_things_and_stuff]

A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

That's not really true...a bubble refers to the artificial inflation of the price of something because of some unjustified belief that it is more valuable than it really is. TBH I'm not sure if BTC is in a bubble state right now, but the argument can be made that the recent jumps in price don't reflect the actual value of the currency, and are therefore bound to drop

[Ayers]

A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

That's not really true...a bubble refers to the artificial inflation of the price of something because of some unjustified belief that it is more valuable than it really is. TBH I'm not sure if BTC is in a bubble state right now, but the argument can be made that the recent jumps in price don't reflect the actual value of the currency, and are therefore bound to drop

how can you know that we are not in a bubble now, how can someone draw the line between an unjustified belief and a legit price increae? it's very hard to know if we are going to crash or set a new bottom higher than current value, for me only a crash of 100% or more is a bubble, small crash are not a bubble imho

[deisik]

A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

A bubble is when something's cost differs from its intrinsic value - a bubble can happen on something which is shockingly insignificant.  Bitcoin's "intrinsic value" is extremely hard to define, so we could just call a bubble whenever the price rises extremely dramatically without much reason (such as now)

I don't think that it is really hard to do

It may be hard to estimate or assess, but this is a different task, anyway. Bitcoin intrinsic value comes from its transactional utility, i.e. its value as a currency and payment system, and this value Bitcoin would have if we removed it from speculation entirely. How much Bitcoin would cost in that case is unknown, but I don't think very much. Just in case, the value that Bitcoin has for being used a speculative vehicle is certainly not its intrinsic value. In this way, it could be safely claimed that Bitcoin is highly bubbled nowadays

[Chin Cheng]

It's not a bubble but the signs are all there for a correction soon. Maybe back down to 2300 range with long term trends upward.

The long term trend is always up and i do expect a range bound trading till August and after that we will see which direction the price will be going,there are many speculations but will it deter the investors and force them to book their profits ,i think they will book their profits and wait for stability.

[iamTom123]

There are many signs that Bubble can happen but all of those are usually applied outside of the world of Bitcoin. I am not saying that there are no similarities but definitely there are many differences when we compare things to Bitcoin. For many times, there were times when many called Bitcoin as just another bubble but up to now Bitcoin is still going up and can one day be reaching the 10K level.

[eternalgloom]

A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

A bubble is when something's cost differs from its intrinsic value - a bubble can happen on something which is shockingly insignificant.  Bitcoin's "intrinsic value" is extremely hard to define, so we could just call a bubble whenever the price rises extremely dramatically without much reason (such as now)

I don't think that it is really hard to do

It may be hard to estimate or assess, but this is a different task, anyway. Bitcoin intrinsic value comes from its transactional utility, i.e. its value as a currency and payment system, and this value Bitcoin would have if we removed it from speculation entirely. How much Bitcoin would cost in that case is unknown, but I don't think very much. Just in case, the value that Bitcoin has for being used a speculative vehicle is certainly not its intrinsic value. In this way, it could be safely claimed that Bitcoin is highly bubbled nowadays

Came here to basically say just this, completely agree with you.

I think that in theory, it would even be possible to get pretty exact data on how much intrinsic value Bitcoin actually has, by looking at all transactions and sifting out the ones that are tied to anything other than buying, selling or holding for pure speculative purposes.

In practice, it's pretty hard to do since it would be fairly hard to actually tie transactions to specific purposes, despite everything being recorded on the blockchain.

About Bitcoin being in a bubble these past weeks, I think that's pretty obvious, it's not like actual use of Bitcoin has suddenly skyrocketed, apart from Japan perhaps.
Certainly not in a way that warrants this sudden rise in price.

[deisik]

A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

A bubble is when something's cost differs from its intrinsic value - a bubble can happen on something which is shockingly insignificant.  Bitcoin's "intrinsic value" is extremely hard to define, so we could just call a bubble whenever the price rises extremely dramatically without much reason (such as now)

I don't think that it is really hard to do

It may be hard to estimate or assess, but this is a different task, anyway. Bitcoin intrinsic value comes from its transactional utility, i.e. its value as a currency and payment system, and this value Bitcoin would have if we removed it from speculation entirely. How much Bitcoin would cost in that case is unknown, but I don't think very much. Just in case, the value that Bitcoin has for being used a speculative vehicle is certainly not its intrinsic value. In this way, it could be safely claimed that Bitcoin is highly bubbled nowadays

Came here to basically say just this, completely agree with you.

I think that in theory, it would even be possible to get pretty exact data on how much intrinsic value Bitcoin actually has, by looking at all transactions and sifting out the ones that are tied to anything other than buying, selling or holding for pure speculative purposes.

In practice, it's pretty hard to do since it would be fairly hard to actually tie transactions to specific purposes, despite everything being recorded on the blockchain

I guess there can be different approaches

We don't necessarily need to analyze Bitcoin transactions as such. We could just look at the turnover rate of merchants that are accepting Bitcoin as a means of payment. It seems that getting this data would be a lot easier. Knowing the amount of goods sold and services rendered in dollar terms (judging by the price of the same goods and services in dollars), we could roughly assess how much Bitcoin would be worth if it were only used for commerce taking a certain number of bitcoins in circulation (and all the way up to the current Bitcoin supply)

[Eron]

Micro bubble ...

[monsanto]

Probably a major bubble. But I don't think bubbles are a bug for crypto in terms of interest, I think they are the feature.

[riskthebiscuit]

I think I agree with OP. It doesnt seem like a bubble in a traditional sense, although there was a lady at a blood clinic who was talking to me about cryptos so its getting more mass adoption as we speak. bubble, maybe not just yet but its getting closer everyday

[HaXX0R1337]

Probably a major bubble. But I don't think bubbles are a bug for crypto in terms of interest, I think they are the feature.

Do you really think that the bubble is just an added bonus features in the crypto market  that is an outstanding thought,looking at the entire market i could see many alt coins popping their bubble and keeps on coming back and even bitcoin is trying hard to cross $3000 but the bubble keeps on bursting.