Every generation gets sucked in’: Bitcoin bubble worse than dotcom boom

[mayuri27]

IS BITCOIN heading for a hard landing?
As the price of the digital currency continues to smash through record highs, hitting $US8200 for the first time on Monday, a growing number of commentators are drawing comparisons to the dotcom bubble and even the Dutch tulip mania of the 17th century.
After a more than 700 per cent increase in value since the start of the year, bitcoin’s market capitalisation — the price multiplied by the number of bitcoins in circulation — now sits at more than $US137 billion, according to Coinmarketcap.
The market capitalisation of all cryptocurrencies, including Ethereum, Ripple and Bitcoin Cash — a “fork” of the main bitcoin line — is now more than $US243 billion.
“Bitcoin is rising faster than any asset class we have seen over the last 400 years,” Atlas Investor founder Tiho Brkan tweeted earlier this week.
“The sharp bull markets including tech bubble of the [late] ‘90s, US stocks of 1920s, oil in early 2000s and even the famous South Sea Bubble do not even come close to the rise in bitcoin.”

[n4poleon]

Well, if you think about it, almost everything is a bubble. The universe itself is a bubble and while taking its course to its end, we live. However, its course would be long enough to serve its life. On the other hand, bitcon already undergone several bubble cycle. lol

[TagaMungkahi]

This story has been always posted to create FUD. apparently Bitcoin is always been moving up and down, dipping and pumping, attacked many times and currently dragging down by other forces yet still it is recovering. Bitcoin is a bubble. It is always been a bubble BUT it can recover back to bubble. BURST then RECOVER.

[Zabrysaitr]

The main question is when the bubble bursts? It can happen as on 10 thousand dollars, and on 1 million dollars

[secondgarlic]

Cryptocurrencies are definitely not a bubble. Although the recent increases remind us of bubble-like movements, I think the price will eventually correct itself. Some altcoins might burst in the meantime, but I think bitcoin should be fine in the long run.

[avikz]

This story has been always posted to create FUD. apparently Bitcoin is always been moving up and down, dipping and pumping, attacked many times and currently dragging down by other forces yet still it is recovering. Bitcoin is a bubble. It is always been a bubble BUT it can recover back to bubble. BURST then RECOVER.

I won't call it as a bubble. Instead it is the dynamics of the bitcoin market which has now become the heaven for the speculators. Because of this fluctuations and the dynamic nature of the bitcoin market, people from around the world is investing heavily in trading. The dynamic nature actually gives more trading opportunity than a stable market. So it is not a bubble, it's just the nature of the market.

Also I believe the entire bubble thing is pre-planned attack to bring down the morale of the crypto community and to create FUD. Don't be surprised, if we find out some big bankers names behind this bubble story in future. We just need to start ignoring such news for our own well being.

[Sanu Simon]

Bubbles comes often, when the dotcom bubble took place it made a change in a large scale over the internet development. In the similar manner the change is the one that's gonna happen through bitcoin os well the different cryptocurrency. Look it in the positive way and surely good thing happens.

[freightjoe]

This story has been always posted to create FUD. apparently Bitcoin is always been moving up and down, dipping and pumping, attacked many times and currently dragging down by other forces yet still it is recovering. Bitcoin is a bubble. It is always been a bubble BUT it can recover back to bubble. BURST then RECOVER.

I won't call it as a bubble. Instead it is the dynamics of the bitcoin market which has now become the heaven for the speculators. Because of this fluctuations and the dynamic nature of the bitcoin market, people from around the world is investing heavily in trading. The dynamic nature actually gives more trading opportunity than a stable market. So it is not a bubble, it's just the nature of the market.

Also I believe the entire bubble thing is pre-planned attack to bring down the morale of the crypto community and to create FUD. Don't be surprised, if we find out some big bankers names behind this bubble story in future. We just need to start ignoring such news for our own well being.

So your basic philosophy it to ignore any information you do not like and call if FUD.

Clearly you are an ostrich, burying your head in the sand believing that will make you safe

[mOgliE]

Hi,

There is actually a huge difference. When there is a bubble bursting n the real world, it concerns physical assets: houses, firms (dotcom bubble), raw materials or even tulips. All these things share a common characteristic: they only exist in a limited quantity. We are living in a finished world. We can pursue the dream of continuous growth, but it is just an illusion. The planet has limited resources and at some point, it is impossible to produce more. Once every inch of soil is covered by a house, you can no longer build houses. The only thing you can do is destroy former houses to build new ones.

And when you do that, you must first decrease the value of such good, so that destroying it is not too costly.

However, all this is not true for bitcoin. The value of bitcoin is increasing because of its very characteristics of creation. We need electricity to produce bitcoin but should we produce less power, then the process would be longer. Not anihilated.

Maybe, we will see a bitcoin bubble burstng. But it will have nothing to do with how the money has been designed, rather because of large, greedy institutions, following only their own rules!