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Author Topic: [2017-10-24] Bitcoin's Race to $100 Billion  (Read 1658 times)
iamTom123
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October 24, 2017, 01:01:45 PM
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There is no official measurement of a market bubble, but one could be the speed and force of the rise, a technique borrowed from the physical realm. Dot-com stocks rose 680 percent from the beginning of 1996 to the end of March 2000. Bitcoin has risen nearly 825 percent in the past year alone, to about $5,700.

Bitcoin is now worth more than a number of financial firms that would be its rivals, like American Express Co. ($81 billion)  and PayPal Holdings Inc. ($84 billion). Still, compared with other asset classes, like real estate or stocks, bitcoin is a pimple, which is why some people have convinced themselves that bitcoin can't be in a bubble. New York City real estate alone is worth more than $1 trillion. There is $8 trillion worth of gold in the world, nearly $15 trillion in Treasury bonds and more than $25 trillion in the U.S. stock market. Bitcoin's mere $100 billion, by comparison, is small.

Taken from Bloomberg.com here.


Is Bitcoin a big bubble, a small bubble or just a simple bubble? In connection with Bitcoin, the question on whether it can be a bubble or not has been one of the most popular questions of all time. personally, my opinion is that yes it is a bubble for the very fact that it expands at an amazing rate just like a balloon. Now, will it soon pop? That is where my answer can be no. Bitcoin is expanding for many reasons and these reasons can also be legitimate.

Of course, there are many people who can be convinced that Bitcoin is just another bubble but still they continue to put their money on Bitcoin all because all of us are anticipating that it can be expanding more in the years to come. Is Bitcoin then the future or will it just be another part of history years from now? Only time can tell.

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October 24, 2017, 02:08:37 PM
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If we have to believe the general public, those who've been here long enough, knew that Bitcoin was being seen as a massive bubble when it hasn't even reached the $100 level yet. I remember having read "expert" predictions that if Bitcoin was ever going to reach the $100 level, it would be its ultimate high from which it couldn't grow further. Guess what, we did grow further, and even in that exact same year. Smiley I'm used to all this bubble talk -> Bitcoin back in the days was a bubble, and Bitcoin at +$50,000 levels will still be a bubble. It's a never ending bubble. People who don't understand what purpose Bitcoin serves, will never understand why it has value in the first place. It's that simple.

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