Why economists say Bitcoin a bubble

[VayneAurelius]

Well a bubble is something that might be came from a source and then will become larger and larger from being a small one. After that, it might get larger again and when there will be a time that it will be pop out and will disappear. That is why they compare it to a bubble, we can't predict that it might get lost someday. Yes it is getting bigger but the threat of it, is it might disappear.

[setupbounds]

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

A bubble is a bubble when something is overbought, it is that simple. Is bitcoin overbought right now?
With a supply of 21 million (not considering lost BTCs), with all the brightest minds working on it, with the strongest network, and with a marketcap that is still very small compared to what a global 24/7 market like bitcoin is could deliver.... then no, I don't think we are anywhere near a bubble. Corrections will come and go, that doesn't mean we were in a bubble.

whos that BIG ECONOMISTs?and what economy they are stands for?specific country?(ofcourse its impossible that you have talked to world economist with an S)most of the time those what we called economist only favor for what interested them.they are really not for the peoples concerns but for the concern pabor to them.

All the so called economists that are busy saying all these stuffs are just some set of talkative as far as I am concerned. The only explanation I can give is that they have no idea what they are saying or they are just some self-proclaimed economists with no sense at all. I care less whatever they say just like you have said and anyone that wants to take their word for it, then that is their business.

I believe the reason they are saying all these things about Bitcoin being a bubble is because of the fact that it is believed that Bitcoin is moved by Investment and that it needs correction. They believe that whenever people decide to withdraw their profit, which they might do, that their no so called bubble will burst.

I pray that even such thing happens, everyone should not give up hope, but should see it as another chance, and keep on investing no matter what.

[Esiunin]

I believe that if the currency, for example, is provided by the economy of the country, then bitcoin is not provided. That is, it is likely that it can be a soap bubble in terms of value, which sooner or later burst.

[nl247]

I believe that if the currency, for example, is provided by the economy of the country, then bitcoin is not provided. That is, it is likely that it can be a soap bubble in terms of value, which sooner or later burst.

Soap bubble or not, something is driving the price up which is the adoption of the coin. The reason behind the adoption is what would end up classifying bitcoin as a bubble or not in this case. If people investing in bitcoin right now believe it is a coin worth holding for so long and everyone believes in the present value, then we will have to see if everyone's idea of bitcoin being a bubble is wrong or not.

[BTCMILLIONAIRE]

Seriously, those economist need to broaden their horizon when it comes to this industry. Maybe they are reacting that way because it does not fit their preference.

They generally react that way because they don't understand what Bitcoin is about. They aren't trained to understand it, which is why they compare it to tulips and other bullshit. The Economists that I know that actually studied Mathematics as well do understand Bitcoin and other cryptos quite well and are actually fully behind them.

It's always the verbal diarrhea type of Economists that speak out against it.

This is very true on which those people aren't really familiar with bitcoin and they are really very curios regarding on its growth in a short period of years and they didn't really expect to happen that it did grow up even more on the assets and stocks that they do commonly traded off and invest off.For now they see this new thing which would really make them curios and most of them do really have negative words on it that it is a bubble or whatsoever but yet bitcoin community would really still stand strong regarding on this one.

Things have actually been changing in the last few days. JP Morgan is pro Bitcoin now and Bloomberg made the case for a $400k Bitcoin price.

[Drixy]

Economist's thought are based on fiat instead bitcoin is different things and it's not from their world. But of course they can share their opinion about bitcoin technically.
For what I can say that bitcoin is unique and it will keep amaze people from time to time !

Well as a matter of fact it is mate bitcoin is a bubble about its fluctuating value most of the time too it always amaze people to grow faster and larger. Like any other currency bitcoin has a headstart of a not so techie or more gadget era in 2008 so bitcoin takes it hard until now.
Not like any other cryptocurrency that starts with a modern world that smartphone existed that is easier to gain popularity this days because of social media's

[Smokey Bob]

The price of Bitcoin is driven by speculators, not by underlying value. This does not necessarily mean that it is in a bubble state, as there are many other assets that also have their priced derived from trading. Economists have models for defining bubbles, but they can be either too general or obsolete. If a model is used incorrectly it will not give any valid answers, and I think that is the case here. Bitcoin might or might not be in a bubble state, but I do think we will see the whole crypto market grow into a bubble. When the bubble bursts the best blockchains/coins will survive, and the rest will perish.

[BTCMILLIONAIRE]

The price of Bitcoin is driven by speculators, not by underlying value. This does not necessarily mean that it is in a bubble state, as there are many other assets that also have their priced derived from trading. Economists have models for defining bubbles, but they can be either too general or obsolete. If a model is used incorrectly it will not give any valid answers, and I think that is the case here. Bitcoin might or might not be in a bubble state, but I do think we will see the whole crypto market grow into a bubble. When the bubble bursts the best blockchains/coins will survive, and the rest will perish.

You either don't know what you are talking about or you're conflating too many thoughts at once creating an incoherent mess.

Bitcoin has underlying value, much more than fiat currency (which has no intrinsic value whatsoever). And an asset that rises despite having no value would necessarily be a bubble, Bitcoin is not one of those though.

[TheAndy500]

Cause it is first time after long time of market specuulation that something is just getting better and better withous serious drop and they think that it will stop sometime but they are wrong.

[Ranly123]

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

If you say you talk about bitcoin to big economists then  i think that would be over informed about bitcoin is a bubble. Knowing the economists will only discourage people on investing on bitcoin because they cannot manipulate its price. We bitcoin users should not atleast listen and obey what economist say about bitcoin.

[Yakult]

Bitcoin has really a characteristic of a bubble. You always see it in bitcoin, price will rise to the top and you don't know when it will pop.

[TERA2]

We should start calling them cycles instead of bubbles, it would be less controversial. But right now we are at the top of a cycle where bitcoin gets way overbought to media, traders, and margin. That's not to say underlying bitcoin isn't growing fast but it's not growing at 2000% per year - it's more like 400% per year, so were way above the mean and will eventually have to deflate to meet the mean or even go below the mean if there is a bunch of FUD and exchanges go down etc.

[reck1ess]

You talked to big economists? Sure. Well anyway, these economists run their businesses on fiat currencies and banks. It would very much make sense if they keep saying that bitcoin is a bubble. Just don't worry and don't listen to articles from mainstream media and magazines. We are nowhere near a bubble.

That make sense, big economists are somewhat connected to banks and bitcoin and other cryptocurrencies affect their businesses because people invest on bitcoin and other cryptocurrencies instead of investing it on banks. And sure they are now making negative comments and reviews on bitcoin since it is their competitor. They want to put bitcoin and other cryptocurrencies down scaring many people so that they will get more investors.

[BitcoinNational]

Bitcoin was overated lately, that's why specialist said bitcoin is a bubble, we see the price has gone down. But it doesn't mean that bitcoin is not a strong value. There were too many people buying bitcoin on the past months, so the price rised too quickly. It will recover slowly in 2018

[bitcoi]

Some economists say that bitcoin is a good investment and other economists say that bitcoin is a bubble waiting to burst. Anyway if bitcoin is a bubble, it will not burst very soon. But I think bitcoin is not a bubble, bitcoin and cryptocurrency is the future of money.

[neonshium]

Probably they consider the current increasing price of bitcoin is only result of excessive enthusiasm. I think its not like that, bitcoin halving and the limitation of its amount makes the increasing demand of bitcoin influence much on btcoin price. I think they have to reconsiders their state.

I would not blame any economist claiming bitcoin to be a bubble right now even though they are not saying it based on fact but because of their own evil intentions. The thing is bitcoin has value; however, most people stepping in right now are not stepping in because they understand the real value but because they see bitcoin as an asset that is going to keep growing and when a time comes that a huge dump happens, panic may kick in and that bubble could burst.

For now, though, the strength of the community is crazy and unless we start seeing supplies becoming huge at any price before we can even see something that crazy happening.

[shahani]

Im surely say, that bitcoin is a bubble because price will drop anytime.

[LordDisick]

Economists say Bitcoin is a bubble, because it is. Have you checked the price chat recently? Bitcoin is going through the roof and is bound to crash at any time. I give it a month at most.

Yes bitcoin crashed after the holidays but have you seen the chart price today? Its starting to rise up again. Its not really new for bitcoin to go down because eventually it will rise up again and again that's why for me bitcoin is not a bubble.

[ngavanngo22]

There will be a lot of people, as well as economists, say Bitcoins are bubbles because they look at the cryptocurrency market and see that the rates of crypto always rise by the hour, with the day's crypto stability not that high. But I see people using Bitcoin as an asset rather than a trading day. They always hold Bitcoin until the exchange rate increases and then sell to earn a profit then continue to invest.

[Shady]

As previously stated, Bitcoin likely can turn into a successful product because of the bubble phase going on. There's no guarantee on bubble's ending with all losses. Look at how the Internet grew from where it was, to where it got today. Nothing deflated, only grew to become more than before.

So at risk concerns, evaluate what's done making the right investment decisions.