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?
Exactly bitcoin is very much different than the previous bubble assets that were there. Bitcoin is something which is volatile and that clearly it means that the price can shoot up or it can get eaten up by bears. All these price fluctuations is all based on actions by humans so whatever bubble it is will be affected one day or the other. What I mean is that the price will eventually fall and it shouldn't be increasing this much and again it will recover.
