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Author Topic: Bitcoin Bubbled Many Times  (Read 524 times)
CryptoBry
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November 04, 2017, 04:31:58 AM
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Yes Bitcoin crashed multiple times this year, by more than 30% in January, July and September. But the currency came back stronger every single time. It is currently roaring at $7,000. You would think that more mainstream journalists would take a step back and wonder why this cryptocurrency keeps coming back stronger and stronger every time it is under attack.

But you’d be wrong--most mainstream journalists suffer from a serious case of confirmation bias. That means they dismiss any information or data that does not support what they already believe, namely, that Bitcoin is a bubble, end of discussion.


Read more here...

People who are doubting Bitcoin keep on talking about the big possibility that soon Bitcoin can be a big bubble that will popped right before our big and wide eyes. Not surprisingly, these people's predictions have not yet come true practically because they are basing their arguments on the past historical parallels that may not be totally applicable to Bitcoin. There are many corrections from time to time serving as the buffer for the bubble...and I know we all are aware of that.

Should we then be concerned about the bubble or the fact that we failed to buy Bitcoin when it was still cheaper?


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November 04, 2017, 04:47:04 AM
 #2

In other words, it's different this time

I don't know when this thing is going to pop, but it will.  In every bubble there have been people who have rung the alarm way too early.   I'm probably one of those, and we may get to $50,000 before the popping, but it's going to happen if the price keeps going up this fast.  That's my concern, that we've gone too high too fast.   And if you think bitcoin is so different from other bubble precedents, think again.   A bubble is a bubble and it has little to do with what the asset is and everything to do with human behavior.   You'll see.

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November 04, 2017, 04:56:56 AM
 #3

I believe this rising speed is because of  2x fork's "free coin" idea and that's why whales hodl their bitcoins. It looks like easy %20 more money for them.(assuming 2X=1000$).

And good news  and price makes newbies buy more bitcoin but that's until fork happens and whales starts to take their profit.
Also new bitcoin buyers will start to sell because of fear (%10 correction would mean 400$ in 4000$, now that will look 700$ which looks scary)
Price dip and stabilise at some point.
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November 04, 2017, 05:00:29 AM
 #4

Right now we're right on cue to hit $10k this year.

We shouldn't care about what other people say about bitcoin. That after all, is their opinion and by no means definitive of what bitcoin truly is and how it will perform in the future. It is at the end their source of income, to write articles like they do about BTC.

It's quite a simple phenomenon. Each time btc gets pumped, there will be a dump following it as a correction. Price doesn't keep on increasing, there are breaks in between.

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November 04, 2017, 06:38:50 AM
 #5

I believe this rising speed is because of  2x fork's "free coin" idea and that's why whales hodl their bitcoins. It looks like easy %20 more money for them.(assuming 2X=1000$).

And good news  and price makes newbies buy more bitcoin but that's until fork happens and whales starts to take their profit.
Also new bitcoin buyers will start to sell because of fear (%10 correction would mean 400$ in 4000$, now that will look 700$ which looks scary)
Price dip and stabilise at some point.

I agree with that.During every speculation bubble(not only bitcoin ,but every altcoin bubble)the big whales get the profits and most of the newbie traders lose money.It`s like a tirckle down economy(i`m not a socialist) the rich make more money and the poor lose their savings.The market is "unfair" ,but bitcoin is getting stronger after every bubble.



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November 04, 2017, 07:11:49 AM
 #6

In other words, it's different this time

I don't know when this thing is going to pop, but it will.  In every bubble there have been people who have rung the alarm way too early.   I'm probably one of those, and we may get to $50,000 before the popping, but it's going to happen if the price keeps going up this fast.  That's my concern, that we've gone too high too fast.   And if you think bitcoin is so different from other bubble precedents, think again.   A bubble is a bubble and it has little to do with what the asset is and everything to do with human behavior.   You'll see.


I think the OP's point is that, as the title states, Bitcoin has been in a bubble plenty of times before, popped and then recovered. No one is saying that you're wrong by saying it is in a bubble, just that people who have this doom and gloom bubble point of view, like you, don't get that it is happening all the time. Yeah sure Bitcoin is in a bubble, it'll pop soon and correct, recover in like a month, the top of this bubble will then be the base for the next bubble. It'll keep doing this for a long time as user adoption increases. The price will keep rising exponentially, and people will keep screaming bubble as the floor for bitcoin gets higher and higher. And yeah, plenty more bubbles will pop, but the price floor will keep going up.

So sure this bubble will pop, maybe the price will drop back into the 5000s for a short time, and your bubble is gone. Then it'll rise to 10,000 and yup be in another bubble. Then yup that bubble will pop and the base price might be 8000 let's say. Then we'll get another bubble to say $13k and it'll pop and the base will be $10k. And so on upwards. Bubbles aren't some scary thing unless you panic every few months when they pop and don't have a long term view as bitcoin moves from a very niche thing, which it still is, into a mass market thing, which will take years.

So it isn't that "it's different this time". It's that "it's exactly the same this time as all the other times". It's called a growth curve. These bubbles are from yes, human behavior getting ahead of itself continuously. But that brings in more and more people and the user base of bitcoin is still so tiny that there is zero concern of a long term bubble right now. Just as every bubble in the stock market has eventually passed and the price has gone higher, except because bitcoin is so young and so small right now these bubbles form and pop and recover on the order of every few months instead of like once a decade.

You say "you'll see". But we've already seen, many many times over, because it's NOT DIFFERENT THIS TIME. We won't get anywhere near $50k before this bubble pops. the current bubble will probably pop in the next couple of weeks. And there will be probably a dozen more bubbles before the price hits $50k. And a dozen or more bubbles after that as the price goes far far higher than $50k. Each pop solidifying the price floor higher and higher. Sure at some point in the future, when bitcoin is no longer a tiny tiny thing as it is right now, once user adoption is in the billions (maybe 100 times what it is now) and the price is in the hundreds of thousands then maybe it'll get to the point where it might be nearing actually peak price for the technology. But we've got a long long lonnnngggg way to go for that.

It didn't crash to zero after rising to 9 cents, or $2, or $30, or to $100, or $200, or $1000, or $3000, or $5000, and it won't now. It's literally JUST ANOTHER BUBBLE. Nothing to worry about at all. We've got plenty more bubbles to go, user adoption and therefore the price is still in its infancy right now.
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November 04, 2017, 07:43:36 AM
 #7

I believe this rising speed is because of  2x fork's "free coin" idea and that's why whales hodl their bitcoins. It looks like easy %20 more money for them.(assuming 2X=1000$).

And good news  and price makes newbies buy more bitcoin but that's until fork happens and whales starts to take their profit.
Also new bitcoin buyers will start to sell because of fear (%10 correction would mean 400$ in 4000$, now that will look 700$ which looks scary)
Price dip and stabilise at some point.
These newbies are not so much newbie in anything, no body would invest on Bitcoin without doing any due diligence first, as we all know being a whale in Bitcoin is not like being a whale of other crypto currencies. every single one of the forks thus far has happened by a large company made large by Bitcoin itself, they will continue to pump their forks, for now they are shaking people to dump their coins for cheap, Bitcoin cash and gold will rise above $1000 if they are to have %20 of BTC price. and frankly %10 correction would be %10 less profit for the majority, if you are scared to lose money then you shouldn't buy, you should mine, even if you are outside of China, mining will make more money for you.

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November 04, 2017, 07:45:55 AM
 #8

Right now we're right on cue to hit $10k this year.

We shouldn't care about what other people say about bitcoin. That after all, is their opinion and by no means definitive of what bitcoin truly is and how it will perform in the future. It is at the end their source of income, to write articles like they do about BTC.

It's quite a simple phenomenon. Each time btc gets pumped, there will be a dump following it as a correction. Price doesn't keep on increasing, there are breaks in between.

I think they have every right to call bitcoin a bubble, but it is really up to us whether to believed them or not. Most of us here don't think it is the case, so argument closed. Although many has said from the past the bitcoin is a bubble and will crash, we haven't seen it happening. And eventhough there is a crash last month coming from the Chinese, bitcoin has recovered and the price even go further. And as long as their as people calling bitcoin a bubble, the more it attracts investors on it. And besides, we haven't seen a market such as bitcoin before, that's why is normal to really says things against it because we don't understand it. $10000 is huge price, but let's see if its hittable this year and once again here people calling it a bubble once more.

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November 04, 2017, 08:01:35 AM
 #9

Right now we're right on cue to hit $10k this year.

We shouldn't care about what other people say about bitcoin. That after all, is their opinion and by no means definitive of what bitcoin truly is and how it will perform in the future. It is at the end their source of income, to write articles like they do about BTC.

It's quite a simple phenomenon. Each time btc gets pumped, there will be a dump following it as a correction. Price doesn't keep on increasing, there are breaks in between.

That could happen. But only after we know for sure which chain has dominant power. Otherwise, the price could drop.
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November 04, 2017, 08:06:54 AM
 #10

there are a lot of people talking about Bitcoin bubble and some people said Bitcoin crashed multipe times before,
lets talk about the fact in here my friend,
logically if something is crashing what will happen with it ? it will be gone because it's already crash.
using crash to describe the correction is not a good word because it's totally missunderstand,
just like bubbe,when people talking about Bubble and something like that.do they know about what the meaning of the bubble itself ?
if they know about it,we should not heard about 'Bubbled Many Times' because bubble only work for a once and then burst.
usually when the burst happen,it will never recover its value in the future.

it's a decentralized thing,
of course we should see an unpredictable move just like now,
because it can be manipulated by peoples easily.

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November 04, 2017, 11:21:23 AM
 #11

I don't have anything against the urge of the bitcoin price as it sky rocket. But like what have Sir Pharmacist said I am also worried about how fast it got in a short period of time. No doubt that bitcoin is on its journey to a fortune but I can't stop thinking until what price it will probably set to be stable. Or possibly safe to say that there will be some dip but no dump.

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November 04, 2017, 12:50:04 PM
 #12

I don't consider calling bitcoin a bubble rather the new invention. If you look at the history a lot of new inventions and latest technologies - media/people tend to give them mean names such as bubble or boom. In fact, so many people failed to buy bitcoins when they had the chance during the time when bitcoin was selling very cheap and yet biting their fingers for no reason to... Smiley I think whenever there is new invention trying to go mainstream, media use to give it a name also trying to distract people from it more especially when media doesn't know much about it, such as bitcoin. Modern day media is full of sh*t that has no meaning sometimes, you have to be very careful when reading it because it's full bias and negative things most of the times.

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November 05, 2017, 04:05:58 PM
 #13

In other words, it's different this time

I don't know when this thing is going to pop, but it will.  In every bubble there have been people who have rung the alarm way too early.   I'm probably one of those, and we may get to $50,000 before the popping, but it's going to happen if the price keeps going up this fast. 
There is another way to justify why BTC can reach $50k by end of 2018. If we look at the rise in price since beginning of 2017 we can see that it has increased u folds, now it's not very impossible to expect BTC to again increase 7 folds by end of 2018, that would land BTC to roughly $50,000.

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November 05, 2017, 04:33:50 PM
 #14

Actually bubble only suits for other stocks, bonds, fiats because they are created out of thin airs and actually government bonds and guarantees are just allowing banks to print out as much money as they like.

Bitcoin have limited supply, nobody can change that so the only way to get new bitcoin is through mining and which is already so much expensive that miners can't sell bitcoin below the current high price because of high difficulty. Bitcoin was never been a bubble and it will not, road to over $100k is ahead.

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November 07, 2017, 06:31:35 AM
 #15

Just like what The Pharmacist said, This time it is different. We celebrate because Bitcoin keeps reaching new heights but under that New Price highs we must be able to understand that greater part of it is the high demand of buying bitcoin as the buyers expect to get a faster way of generating profit. We must be actively observing the Price movement because anytime i do feel that it will pop and you choose what will you gonna be, A Looser or a Winner and Gainer?. This is not FUD or what, but this is a fact that we should accept.

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November 07, 2017, 08:04:37 AM
 #16

Just like what The Pharmacist said, This time it is different. We celebrate because Bitcoin keeps reaching new heights but under that New Price highs we must be able to understand that greater part of it is the high demand of buying bitcoin as the buyers expect to get a faster way of generating profit. We must be actively observing the Price movement because anytime i do feel that it will pop and you choose what will you gonna be, A Looser or a Winner and Gainer?. This is not FUD or what, but this is a fact that we should accept.

yeah, thats right. bitcoin is bubble but we never know what day or week it will pop yet im sure that bitcoin can go a long run until it reaches to the point that every people in the world will be investing and holding on it as an investment. overall most people will still choose to risk their money or property just to see  how far this bitcoin  bubble can go.

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November 07, 2017, 08:46:54 AM
 #17

In my opinion bitcoin is not large enough to make a big bubble like the prediction of most here in the forum, let's just say we are not yet in the potential level of bitcoin, bitcoin can surge even more, but we can not predict when that will happen so that is a great Risk involve in investing with bitcoin, we can not surely know the future but at time like this that bitcoin is in the bullish trend keep on Hodling your bitcoins.

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November 07, 2017, 08:49:43 AM
 #18

Just like what The Pharmacist said, This time it is different. We celebrate because Bitcoin keeps reaching new heights but under that New Price highs we must be able to understand that greater part of it is the high demand of buying bitcoin as the buyers expect to get a faster way of generating profit. We must be actively observing the Price movement because anytime i do feel that it will pop and you choose what will you gonna be, A Looser or a Winner and Gainer?. This is not FUD or what, but this is a fact that we should accept.

yeah, thats right. bitcoin is bubble but we never know what day or week it will pop yet im sure that bitcoin can go a long run until it reaches to the point that every people in the world will be investing and holding on it as an investment. overall most people will still choose to risk their money or property just to see  how far this bitcoin  bubble can go.

It may pop but surely it will recover, we just need to be observant and active enough to discern when it will happen. The fast timeline of Bitcoin's price high price trend is really suspicious and that should be enough for us to be alerted on what will happen.

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November 07, 2017, 09:10:26 AM
 #19

people expect bubbles and crashes to be catastrophic, to a point where they start to lose sight of what a bubble and a correction really means. you can clearly see this idiocy when they use terms such as "crypto winter is coming" an stuff like that.

meanwhile bitcoin has all these big rises and big falls which are even as big as -30% drops and all the while those drops happening all the bubble guys are silent and they are actually buying bitcoin by that time.

Should we then be concerned about the bubble or the fact that we failed to buy Bitcoin when it was still cheaper?

the bubble talk will stop, either after their bubble (illusion) burst and they realize how wrong they were or when price comes down and starts having slow rise again.

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November 07, 2017, 09:47:24 AM
 #20

In my opinion bitcoin is not large enough to make a big bubble like the prediction of most here in the forum, let's just say we are not yet in the potential level of bitcoin, bitcoin can surge even more, but we can not predict when that will happen so that is a great Risk involve in investing with bitcoin, we can not surely know the future but at time like this that bitcoin is in the bullish trend keep on Hodling your bitcoins.

Bitcoin's size doesn't have much to do with its market being in bubble phase or not. If the market is overbought, and that by a large magnitude (which can happen at any stage), people tend to call it a bubble. I am however not that generous when it comes to the usage of the term bubble. I am of believe that this market is overbought, but not by such a margin that it justifies people calling it a bubble. It's just the speculation aspect that we have to deal with, especially with an upcoming (important) fork.

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