5500 Dollar Bubble or fork effect?

[cyberChevan]

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?

I think the upcoming fork somehow has to do with the current surge. But mostly it's the investors that contributes to this event and it is a normal thing for btc just like how the speculation goes. But one thing though, the fork has nothing to do with ethereum in any sense as this fork is mainly btc related.

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[Lucius]

"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.

I see this Michael Novogratz everywhere,his predicton is something like the main news in the last few days and he may be responsible for this pump

I do not think he say anything what the majority of cryptocurrency users do not know and what they not hope to see in next 6-10 months.Perhaps his statement is gaining weight because he invested a large amount of money in cryptocurrency.

I also think that this price is because of upcoming hard fork and chance to profit on new created coin.It would be pretty unrealistic to believe that there will be no price correction,because so far it has always been the case.The question is how deep can we go this time?I would say that drop of 2000-3000$
it is not unrealistic if we remember the recent one from 5000$ to 3000$.

[ugr_erkn92]

What does it matter if the rise in bitcoin is a balloon or a fork effect? The important thing is the psychology of the market. investors have long expected Bitcoin to rise to $ 5,000. It is also said that on October 25th Bitcoin Gold will be issued and investors will be given free of charge. Investor bought Bitcoin to buy Bitcoin Gold. At this price, Bitcoin buyers may get sick, we are approaching the month of November, expecting a decrease in price.

[daserpent]

It is the upcoming fork thats making the price shoot like crazy.

People want those free Bitcoin Golds. I expect to see a crash right after the fork though.

[Zalfa_mui]

the current fork has a good effect on bitcoin ,,, bitcoin price is very expensive. and I got the news that bitcoin prices will continue to rise, would probably break through $ 10,000 ,, I would wait for bitcoin prices to rise to 10,000 $.

[chennappa121]

Yes it is fork effect because of have hold the bitcoin thru fork until fork end, you will get free bitcoin gold coins.

[1kings]

Yes, it seems.like a bubble but if you'd cut the effect of China's ban on ICOs, it looks like it's back on its pre-ban trend.

At the same time, it follows the pre-BCH signature, which says we can expect some corrections immediately after GOLD fork.

My newbie take😀

[Topkras]

you will buy a lot of cheap bitcoins at the end of october

[Cindy1983]

Not sure this case is the result of upcoming hard fork or it's a bubble but IMO I think it's a results of the hard fork cause this case happen like it was before at the hard fork on 1st August when Bitcoin increased from 2k$ to over 4k$ very quickly so I think in this time Bitcoin will increase from more than 4k$ to over 8k$ when the hard fork in this month over

[emberbekas]

Imo, the next hard fork has been affected the current price. And we will know it after the fork happened whether my opinion is right or wrong. If the price will move down significantly then it's for sure, this massive increase caused by the fork. Set a plan to sell bitcoin at 26th.

[eekkaa]

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?

this is very possible because hardfork will generate new coin like BCH yesterday, the more your bitcoin balance then you will get free new coin after hardfork later.

[btcprospecter]

With bitcoin I think alot of people are turning alts to bitcoin so they can cash in with the fork. More and more people are getting involved with bitcoin now as a result more are wanting bitcoins.

[iluvpie60]

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?

usually right bfore the fork happens the price will go up a bunch, then down, then a few days or a week before the fork the price hits the moon again, only to come back down to orbit.

However, with a fork on Oct 25h AND a fork on Nov 17 or 18 or something, we may see the price continue to climb and onnly crash back down sometime in December.

This will be a record all time high for price and a record for how long that high price stays there.

[joebrook]

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?

I am very scare about the current pricing of bitcoins at the moment because it can just like any bubble it's going to burst any moment from now. I am happy but i can say that I am kinda scare but with all my experiences with bitcoins over the years, I know that nothing bad is going to happen.

[jekjekman]

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?

Bitcoin is getting stronger every time it survives an issue that it is not true because it just justify how wonderful this revolutionary digital currency is, no one can really tell what will happen next to Bitcoin or in Ethereum but one thing is for sure they are both going up in price unless there is a big incident that will happen to its system that will cause a major down fall.

People who are in the cryptocurrency scene now and before are getting immune with the issues that is not reliable at all because they tend to realize that Bitcoin is still under development and there are so many ways for improvement. How I wish the price of a single bitcoin will become $10,000 before or after the year ends.

[FrankNoland]

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?

In my opinion, I just feel like this is the fork effect, the reason why the value of bitcoin is reaching new all time highs might be that a lot of investors are dumping altcoins so that they can claim bitcoin cash on the upcoming fork.

I see the value of bitcoin dumping back to $4000 after the fork. It wouldn't be such a great idea to buy now.

[AkaSnake]

It is due to fork effect, BTC will most likely go down at the end of this month. And we should expect alt coins to go up!

[spov]

The price will not settle above 5000 USD. The price will hit close to 6000 USD and then it will fall again. It is not time for BTC to settle beyond 6000. That said, it is a small bubble. Better is yet to come.

[jak3]

no, I don't think this is just a bubble because people are actually taking big steps with bitcoin and as it is increasing its price day by day people are really understanding its good side. but I am afraid there are still 70% users in bitcoin who do not know about the dark side of the internet and how much bitcoin is being used there daily.

[John Langut]

Fork or not, this raise is not a bubble. Bitcoin pass 6K soon and reach 10K at the end of this year. Etheeeum will also benefit, but most altcoins will suffer severe losses.