Is this Bitcoin run sustainable?

[harvw]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

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[damrianto]

every year to year this bitcoin continues to change and this spike seems to be a way or step to maintain bitcoin so as not to back down. This is what the company managers to continue to grow.

[HabBear]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

I don't get the same feeling. Bitcoin, it its lifetime will grow higher than current levels. But thinking about the activity in 2017, the reason I'm not concerned is because we've had about 11 run ups this year. We've had 11 new "record high" marks set for valuation. And immediately following each new high mark we see a pull back, a correction of 10-20%. That's the size of a correction in the stock market, it's normal.

What's not normal is how quickly it happens with Bitcoin. And then how quickly new money comes back into Bitcoin and adds support to stop the correction and eventually build momentum to set a new high mark. I've watched it happen 11 times thus far. Their may be one more cycle in February. These cycles happening every month is not typical in the stock market, but Bitcoin is not the stock market.

The corrections relieve the price pressure, people take some profits and then we reset at a new level.

I'm not saying a crash (greater than 20% decline) could never happen or won't happen, I'm just not worried about the price growth of 2017.

[dothebeats]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

I do. I'm thinking that the sudden rise in bitcoin is nothing more than a few billionaires' game and other people just jumped on board to further extend the height of the bubble. Well what do I know, I'm only invested in the last three years and still not an adept when it comes to trading, but by merely just looking at it, you could tell that it is indeed a bubble and graphs will tell you that. The big question is until when would this bubble continue to grow until it is popped?

[HabBear]

but by merely just looking at it, you could tell that it is indeed a bubble and graphs will tell you that. The big question is until when would this bubble continue to grow until it is popped?

It's not Bitcoin that's in a bubble, it's cryptocurrency that's in a bubble. How many ICOs have occurred in the last year? 100s? 1000s? Nearly all of them are worthless. That kind of hype needs to be cleansed. It needs a dose of reality. There is no "get rich quick" scheme. And this market needs a "bubble bursting" event to get rid of the rubbish ICOs. Certainly all coins will see a decline as a result, but the top 10-20 coins will prevail and flourish and then the market can grow more intentionally forward.

Thoughts?

[Yakamoto]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

I think we'll close above $10k at the end of the year, but it definitely does look like a bubble run for anyone on the outside and I personally think that it is a bubble and people are just waiting for any government regulation or general out-lash against Bitcoin by people in power for it to start turning down again.

I think this is some unintentional manipulation of the market, if you want me to be honest. Everyone with Bitcoin is holding because of the % rise this year so far, those wanting to get in on it are drying up the available supply, and that's what's driving the prices up. Stagnation of the market would probably be enough to pop the bubble, unless people constantly buy up anything that's being sold.

[Iranus]

That's the size of a correction in the stock market, it's normal.

Not often.  Once every few years maybe, but it doesn't happen once every two weeks like it does in BTC.

Even if there's a correction and then a recovery, BTC's price growth has still been very unusually rapid over the past year, and a lot of it has been pretty rapid.  It's worth worrying about for sure.

I will be really surprised if we close out the year above 10k....

You'd be surprised.  Bubbles can last a long time.

[hero1111]

Bitcoin price is unbelievable and bitcoin price is going up so fast , we think this is not normal but i think this is normal and  , i think this will be like that in 2018 too and  many new bitcoin investor will join day by day and bitcoin price will be beyond dreams after 5 years .

[J_Dubbs]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

Personally, I would not be surprised if bitcoin grows to $ 15k by the end of the year. Now there is no reason for a strong drop in bitcoin and the market is on a positive trend.

[Kprawn]

Well, we said that at $2000 and again at $5000 and again at $8000 and look at where we are. Will we say that at $15 000 and again

at $20 000? ....I think we will.   .... When you look at the price, you tend to ignore the step that took you to that price. This year,

we reached several goals... {SegWit succeeded and SegWit2X failed and now institutional capital is pushing the price upwards.} We

should acknowledge the successes and not be fixated on the price.  

[webtricks]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

Personally, I would not be surprised if bitcoin grows to $ 15k by the end of the year. Now there is no reason for a strong drop in bitcoin and the market is on a positive trend.

Yes! There isn't any significant reason to believe that Bitcoin will fall huge now onwards.
It isn't limited to crypto market anymore, it is now part of Future markets and people from every profession, every section buying it. So value of Bitcoin is backed by the demand and belief of People which is bigger than any intrinsic value.

[HabBear]

That's the size of a correction in the stock market, it's normal.

Not often.  Once every few years maybe, but it doesn't happen once every two weeks like it does in BTC.

Even if there's a correction and then a recovery, BTC's price growth has still been very unusually rapid over the past year, and a lot of it has been pretty rapid.  It's worth worrying about for sure.

I agree with this. The velocity of these cycles has been much, much faster than we see in the stock market. The key driver of this is that Bitcoin is participating in a more global market than any single stock. We have exchanges on every continent, it's easy for anyone to buy some, you're not limited by the "share" or "coin" price, you can buy in with almost any denomination of investment (provided it's higher than the fees you'd incur). This makes it easier for people to get in and get out, thus driving the velocity of these cycles.

I also believe we've barely started to realize any sort of adoption. These are still very early days. BUT, we've seen a lot of newbies join this forum this year, there are more newbies on these boards than anyone else! This is an indicator of the increase in interest and ultimately bitcoin adoption.

[majeis]

There will always be cycles of up and down because of market fluctuations, but the overall trend will continuously be up until full adoption.

[Scor1937]

Even i do have the same feeling because the price for bitcoins is too high now and it is continuously increasing rapidly. But some or the other day it may burst like a bubble. Even i do feel that it is a huge bubble. But also considering its progress, I won't be surprised if bitcoins cross 10k-15k this year. Also i do have a estimate that bitcoins may get much more higher by the February end 2018.

[Hui8]

Nah don't worry everything is completely fine until this point and I'm thinking of greater opportunities next year with bitcoin. It will get us so may profit that you can't ever imagine. It has already blessed us with huge money though and it look like that Satoshi wanted to give us the Christmas gift this year and they did give it. :-)

Well, the first thing is, it is for sure not the bubble because if it would have been that then it would have never reached upto this mark or it could have fallen already below the specified prices that we are currently experiencing.

[maximus942]

There has been alot of attention with spike in price which has brought alot of attention and new investors looking to get into the market.  I also think there is an elevated volatility with the launch of the futures market ahead that is creating alot of interest

[Envrin]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

Bitcoin has not reached the limit of its growth, so it can not be called a bubble. It is still collected by miners, so do not worry about the temporary drops in the price of bitcoin.

[CryptoTamer]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

Don't worry ! I think Bitcoin price in this year is normal because Institutional money starts to flow into the crypto market. It makes the general public to adopt Bitcoin and also Bitcoin Hardfork make users add value to their investment to get free coins. Actually the impact of adoption for wanting to get free coins from Bitcoin hardfork is not good but I think the impact is not too worrying

[ItsEzMkay]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

Not really I think we have a long way to go before this so called "bubble" pops. Btw even if it is a bubble and it does pop don't think the value will simply head to zero it will lose a significant chunk but then again will rebound because the new found price will be super low and not have been seen for who knows how long. Take a look at the housing bubble in the USA in 2008 it popped and within a year things were back to normal basically. Everything went to shit for a bit yes but eventually confidence was regained and the markets function as normal. I expect similar things for bitcoin if when the bubble pops

[Bolt Brownie]

I'm beginning to fear that this Bitcoin run up is a bit too fast and a bit of a bubble. Does anyone else get the same feeling?

I will be really surprised if we close out the year above 10k....

Why are you saying that? Bitcoin is becoming mainstream, and institutional investors are about to come in with all their money, so what we are seeing is perfectly normal in my opinion. Even JPMorgan that is now considering launching bitcoin futures on the CME, and we all know what Dimon thinks about bitcoin. Not saying he changed his mind about BTC, but if even his bank is probably entering the market, why wouldn't others do the same. I'm very confidant we will close the year above $10k, and it doesn't look like a bubble to me, if you compare the BTC market cap, to gold market cap.