5500 Dollar Bubble or fork effect?

[Bitcall]

In this year we can see many boubble on bitcoin price..this time Bitcoin rise more then 5500 dollar the last week and the Bitcoin value rise like never before... The incoming fork look like is good for ethereum too.. What You think peaple is a boubble or the incoming fork rise all market, or the Bitcoin market is bigger then Goldman Sack for real and we can talk about new economy?

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[shamzblueworld]

Hard to say if it is due to the fork, because it seems a little early for that. But sure it ain't a bubble until or unless the value goes low again below 5K which is highly unlikely now.
What a run by BTC.

[BrewMaster]

In this year we can see many boubble on bitcoin price..

you should say "I" instead of "we" because you are the one seeing bubbles.!

this time Bitcoin rise more then 5500 dollar the last week and the Bitcoin value rise like never before...

actually this rise is like a lot of other previous rises. only a small 20% rise with a 8-10% correction.

The incoming fork look like is good for ethereum too..

this is irrelevant in here!

[iamTom123]

In this year we can see many boubble on bitcoin price..this time Bitcoin rise more then 5500 dollar the last week and the Bitcoin value rise like never before... The incoming fork look like is good for ethereum too.. What You think peaple is a boubble or the incoming fork rise all market, or the Bitcoin market is bigger then Goldman Sack for real and we can talk about new economy?

The coming hard fork can be one of the many factors for the huge rise of Bitcoin currently but of course there can be other factors too. Maybe the market is already ripe for Bitcoin to go beyond the $5,000 level which on my estimate can already be overdue as it was pulled over by the China news and Dimon effect. Now that the market is not anymore listening to worthless FUDS, the value has been jumping like a frog.

Now, will there be a bubble or a sudden huge retreat of value? Well, nothing is impossible with Bitcoin but there must be a big bad news or anything that can be the impetus for that to happen. Or maybe Bitcoin will continue on surging beyond $6,000 before the end of the year and can be moving towards $10,000 in the new year 2018.

Let's see what can happen with Bitcoin as only time can tell the details and we are just here to imagine by speculating!

[nareshrohra]

IMO, this is a regular rally due to people accumulating bitcoin before the fork to get a hand on Bitcoin gold. And as always the ATH is bigger than the previous one. I was expecting correction which came in and will probably continue for couple of days. But, that's just me speculating and I hate predicting otherwise

 

[felipe04]

In this year we can see many boubble on bitcoin price..this time Bitcoin rise more then 5500 dollar the last week and the Bitcoin value rise like never before... The incoming fork look like is good for ethereum too.. What You think peaple is a boubble or the incoming fork rise all market, or the Bitcoin market is bigger then Goldman Sack for real and we can talk about new economy?

The last fork is not being well because the price of bitcoin is down by half if you know the bitcoin cash thats it,the effect of fork in the mind of any bitcoin user is like a panic in time and they think their bitcoin will lose if they invest it so a lot of users withdraw or convert their bitcoin to other coins for their safe and no thinking of lose

[Kray]

I guess this is fork effect, people think to buy bitcoin to get new coin and then dump new coin. I just wondering about coin price?

[waynechong1995]

Judging from previous rallies, price correction would came it soon after for awhile, however I believe that BTC is already capable surpassing 5k range at least (+- 10%).

However, BTC's performance is too overwhelming to be sustainable and it would certainly get dumped anytime.

[andrew24p]

I agree with the others, it really is hard to say. With ledgerx theres potential that what we are seeing is actual a calm before the storm. If wallstreet enters and then the public via an etf the price is going to be insane.

[abdillahzidan]

I think, because there's some news saying some markets will give BTCG (Bitcoin gold) to traders who store BTC in the market starting on 25th October, so many buy BTC and save it in hopes of getting BTCG.

[Sadlife]

As far as ive heard and seen in this forum looks like it will not be a bubble and yes the effect is due to the incoming fork and also that malaysia is planning to accept it so this might trigger the hype that the price value will rise up to new heights we may see bitcoin reach $6000 this week. Who knows until we can't say for sure until the fork is over but surely it will be another pump and dump for BCH.

[Jarixx]

Definitely it's not a bubble, we can expect Bitcoin rise and this price we will call under priced in near future. People maybe expecting a new coin, so maybe they buy more Bitcoin 24 volume is huge.
Hey my first post on here

[darkangel11]

I guess this is fork effect, people think to buy bitcoin to get new coin and then dump new coin. I just wondering about coin price?

I think the same. The fork has made people go crazy. At the last fork people who were scared to invest missed the BCC train and another when BTC started to go up right after the fork. Before the last fork you could easily buy BTC for <3000USD and get an equivalent in BCC that was worth 0.15. So every $3000 put in BTC before the last fork was giving you $450 for free + the price went up by 1500USD in the next month. Those who bought then basically doubled their investment in 1 month!

[pangrango]

I think, because there's some news saying some markets will give BTCG (Bitcoin gold) to traders who store BTC in the market starting on 25th October, so many buy BTC and save it in hopes of getting BTCG.

This is more reliable reason. All people know that in 25 this month will be a fork in BTC. But there is no wallet for BTCG right no.how could this happen if there is no wallet so save BTCG. As we all know including me hope that fork will happen

[Bitcall]

I guess this is fork effect, people think to buy bitcoin to get new coin and then dump new coin. I just wondering about coin price?

[CriptoIngresos]

The fork it's just one of the many factors that contributed with the spike on the demand for Bitcoin (maybe the biggest), however we can't give it all the credit just yet, it's not really clear the meaning of a 'bubble' in your post, we can just pull out the economics dictionary but it seems like on the internet there are many different interpretations.

Even taking this into account, I would still highly recommend you keep watching the market with a grain of salt, specially on the upcoming days just before and after the fork, it's very probable that in those days the uncertainty will take over and important market changes take place.  

[matuson]

What you call a bubble. Any currency may depreciate. What Fiat can't turn into a bubble? Look at what is happening in Venezuela. Now the credibility of bitcoin is high and therefore the price increases. If there is a mechanism to turn bitcoin into investments that this capital will be enough to upgrade a small country. Then bitcoin will have support of the real sector of the economy and no bubble will not.

[Slark]

"In A CNBC Fast Money interview, Michael Novogratz of Galaxy Investment Partners predicted that Bitcoin’s price is likely to be over $10,000 in six to 10 months.

Former Fortress Investment Group manager Michael Novogratz agrees that Bitcoin shows signs of being in a bubble but firmly believes that because of increasing investor interest we will see Bitcoin valuations in the tens of thousands of dollars. His bold claim is backed up by money too, as he has started a $500 million fund to purely invest in cryptocurrencies, ICO’s and related companies. $150 million of that money is his own and he plans the raise the rest from outside sources by January 2018."

More info: https://www.cnbc.com/2017/10/10/bitcoin-heading-over-10000-in-six-to-10-months-former-fortress-hedge-fund-manager-says.html

There is high chance that we are indeed early adopters, still. In 5 years in the future, some of us will regret that we never bought BTC when the price was still below $10k
So if you are worried that Bitcoin might be a bubble then sell your coins now, I am sure you will get high profit from it already.

[teilwalL05]

Many are Interested in bitcoin I think that is the most key priority in how did the price increase so much, the impending Hard Form and the free coins are just an incentives for us, if we keep on holding to bitcoin, if this would continue we can surely reach the 100,000 k goal, if many speculators are prompting that the end of this year we can reach that ATH.

[djablom1]

I think because of the fork and the increase of people a lot of people are joining bitcoin and learning about it there are like 1 million people just in this forum learning and talking about bitcoin.