topman870 (OP)
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Activity: 7
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October 21, 2017, 09:19:23 AM |
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Hey Guys, I have invested into BTC quite a bit, when talking to family and friends about its potential etc. many are against it and say it's a bubble waiting to pop. What are your thought on this? the price has gone ridiculously high from since the beginning of this year and the general vibes on here are that it is going to hit 8000 by year end! Question is how long before it pops and will it be a be bang drop or gradual ect... Thanks!   |
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truthstalker
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October 21, 2017, 09:20:50 AM |
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No one knows. Purely speculation but I think the recent pump has been due to the hard fork coming up in a few days time and the promise of 'free money'. I think we'll see it find its true value after the fork has happened and given enough time it should stabilize.
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holdingkrypto
Jr. Member
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Activity: 59
Merit: 10
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October 21, 2017, 09:24:53 AM |
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It's not a bubble, it's not just speculation. It is a technological paradigm shift. And by design it has to keep increasing its value in long term indefinetly.
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truongdhnh
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October 21, 2017, 09:36:18 AM |
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As bitcoin always increases, a lot of people alway say it is a bubble and are about to explode. They believe that what they say and do is always right but BTC is still growing steadily, it isn't too dangerous here.
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n4poleon
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October 21, 2017, 09:42:56 AM |
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it's already gone on 6th bubble. There's no cure for bubbles other than running its course, then accumulation phase again. you know the market cycle. Our psychological price is 10k/btc. So sit tight.
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xskl0
Sr. Member
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Activity: 378
Merit: 260
Bitcoin SV is Bitcoin
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October 21, 2017, 09:48:39 AM |
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Will reach 10k soon (Last November was at 800$). If we have a price floor of 10k usd, Lightning Network and the Launch of Kim Dotcom's Bitcache we will be unstoppable.
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Bardman
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October 21, 2017, 09:53:04 AM |
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No one knows. Purely speculation but I think the recent pump has been due to the hard fork coming up in a few days time and the promise of 'free money'. I think we'll see it find its true value after the fork has happened and given enough time it should stabilize.
I don't think people understood what the hard fork is going to be and that you are not guaranteed to get free money and you could even lose your existing bitcoins. I'm sure after that bitcoin is going to suffer greatly but I don't think it will crash ''too hard'' even 1000$ still puts it at 5k and that is still huge. |
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Kprawn
Legendary
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Activity: 1904
Merit: 1073
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October 21, 2017, 09:54:01 AM |
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We have people saying this for years and it is still going strong. This must be the strongest bubble in the world. Let's say this is a bubble for arguments sake... then this bubble could have been managed by a lot of people to reduce the risks. You buy on the dip and you sell on the spike. {take profits and put it aside} then you re-invest and repeat this strategy until you have received back your initial capital you invested of your own capital. Those people who are saying this are too afraid to take risks and only want to be spectators pointing fingers from the side... they will never make money, because they are too afraid to take risks.  |
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senne
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October 21, 2017, 10:03:50 AM
Last edit: October 23, 2017, 08:05:08 PM by senne |
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The coming of hard fork has given a great pump to bitcoin price, due to which ones again it is seen as a bubble which will explode. The same view was observed when Bitcoin reached $5,000 but at that time it survived and this time it will also survive. After the fork one can expect a decease in the value of Bitcoin but that does not mean it will pop like a bubble, after fork their will be increase in sell orders due to which bitcoin market value will decrease but it will stable after a while, and one can expect to rise again after few day creating a record by the end of the year. And then again one will see statements like "Bitcoin is a bubble waiting to pop."
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kenkoy
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October 21, 2017, 10:07:23 AM |
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Most of the people saying BTC is a bubble. Notable are US billionaires, who are either spreading FUD so they can control the value or just purely insecure with BTC because its a threat to their banks. This bubble issue has been long ago, a segwit happen and FUD spreads, but still bitcoin managed to hold its own. No one can say it BTC will die, but the fact is more people are getting interested on it.
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pixie85
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October 21, 2017, 10:16:39 AM |
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Most people fall victim to such thoughts because they are using analogy. This means that they are trying to understand Bitcoin by comparing it to company shares and fiat money. It's nothing like that. Companies rarely have a chance to change the balance of power in the world. Cryptocurrencies are something totally new as there has never been something like independent money! There was always an issuer that you could target to weaken its creation.
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Dexion
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October 21, 2017, 10:18:32 AM |
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I suggest you stick to your position, do not listen to what others say, even if it is your family. you are better understanding the field, if it is profitable for you I suggest that commitment with your investment.
I see today more and more potential that can make bitcoin value will continue to rise, among others is the increasing number of investors.
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cengsuwuei
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October 21, 2017, 10:20:38 AM |
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i think after hardfork bitcoin price can down
maybe can down to reach 4000 dollar/bitcoin, wait and see
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topman870 (OP)
Newbie
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Activity: 7
Merit: 0
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October 21, 2017, 10:27:38 AM |
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Thanks for the positive comments gives me a little more reassurance now I Will hold tight and ride though all this!! May do some selling and buy back again when it dips ect... Thanks!! |
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panju1
Legendary
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Activity: 1246
Merit: 1000
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October 21, 2017, 10:35:20 AM |
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Hey Guys, I have invested into BTC quite a bit, when talking to family and friends about its potential etc. many are against it and say it's a bubble waiting to pop. What are your thought on this? the price has gone ridiculously high from since the beginning of this year and the general vibes on here are that it is going to hit 8000 by year end! Question is how long before it pops and will it be a be bang drop or gradual ect... Thanks! It might be a bubble; it might be waiting to pop; but nobody knows when it will pop. It could pop at $8k or it could pop at $80k. Can you afford to take that risk and not be part of the rally. This is the fear of missing out at work. |
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Lieldoryn
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October 21, 2017, 10:36:17 AM |
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What will be the behavior of bitcoin in the future, nobody knows. I doubt that this year we will see the price is $ 8,000 but the price will continue to grow that's for sure. Those people who think that bitcoin is a bubble are right to think so but bubble bitcoin is only when it will burst. Up to this point is a very beneficial investment asset.
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Sadlife
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October 21, 2017, 10:42:41 AM |
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Yup it's a bubble but a long one im sure there will be few price correction but the price will remain stable unfortunately the current price is stable and it is supported by the hardfork and going up because of it because of the hype that bitcoin will rise after the fork is surely will happen because the users has chosen bitcoin over BTG it will be another airdrop and free money for everybody just like what happened to Bitcoin cash. Bitcoin will surely reach news heights after this. It is best to hold bitcoin for now.
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talkbitcoin
Legendary
Offline
Activity: 1372
Merit: 1032
All I know is that I know nothing.
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October 21, 2017, 10:45:30 AM |
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what people who call bitcoin a bubble neglect to also mention is the fact that bubble doesn't have to be too huge and "pop" doesn't mean price going down to dumb low numbers.
a bubble can also be a small one. be as big as $500-$1000 and the pop can be small consequently. meaning a $500-$1000 drop for example and call it a "pop" and back to normal
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pixie85
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October 21, 2017, 10:45:49 AM |
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It might be a bubble; it might be waiting to pop; but nobody knows when it will pop. It could pop at $8k or it could pop at $80k. Can you afford to take that risk and not be part of the rally. This is the fear of missing out at work.
If that's what you think then please enlighten us why it is so. If it's a bubble then it has to be based on some false assumptions. What are those? That Bitcoin can't be used as a store of value that is easy to hide and move around and gives you access from various electronic devices? That it can't be used as a payment system? When a bubble pops it goes to 0 or very close to it. People realize it's worthless. Bitcoin isn't! |
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wantjokull
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October 21, 2017, 11:01:01 AM |
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It's quite high and if the fork is good upgrade for blockchain technology then we could see new paradigm of bitcoin market capitalism. That's what make up the bitcoin price and this time it could reach more than 10K really. But if doesn't go as planned then I'm sure we are going down to 3k to 4.5k again. It's all upto people how they look at the fork and don't go panic selling. Hopefully.
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