Bitcoin Price Crossed $11,000: Is it Really a Bubble?

[sonewaneaman]

Today, the Bitcoin is trading above $11,000 up 13.6% and has moved by $1307.06 in the single day with a total volume of $1.57B. Though Bitcoin is showing the bullish signals on the charts some of the parameters suggests that Bitcoin got overbought. It’s necessary for the BTCUSD to form a strong support and resistance level.

Is it really a bubble?

https://coincrump.com/bitcoin-price-crossed-11000/

[piloder]

I think all crypto coins are over bought at the moment so whole market is shaky right now so wecan expect huge bloodbath across all crypto soon.

I have sold almost all of my bitcoin at above $11k and waiting for some correction to buy back again.

[maaydin]

Well doubling its price in such a short time and such a high volume brings the question whether it was a bubble or not. In my opinion this price might be a bubble but not btc because btc will continue its operations but idk if it will make with this price.

[Oilacris]

I think all crypto coins are over bought at the moment so whole market is shaky right now so wecan expect huge bloodbath across all crypto soon.

I have sold almost all of my bitcoin at above $11k and waiting for some correction to buy back again.

I did the same thing which i did sell off all of my bitcoins on $11k price mark which it did exceed on the range i do expect which is only on 10k but i did put take profits on 11k and luckily it did hit and made me some profits for short time basis.Price corrections would really normally happen on these kind of events.Thinking off if theres a sudden price increase then expect for a sudden price decrease later on.

[Itjoker]

May be we will see a little corrections of price, but in the near future the price of Bitcoin will only rise.

[parobber]

I think we are in a mini bubble so to speak, I think there will be a fairly big correction back to maybe 8k and alts will get hit even harder. There is too much new money and hype at the moment and bitcoin is being bought up without a moments thought. I don't think anything catastrophic will happen but I am weary of a dip in the market.

[anitaraymonds]

Bitcoin has made a new high and looking like an overbought signal is about to show. I think it is about retracing downward a bit and then another move upwards again. I will suggest that holders should take their profits or at least halved their portfolio hold back a part and sell off the remaining half.

[MissionPhailed]

Looks like a correction is happening at this moment; BTC lost almost $2000 in the last hours, while the market cap of crypto as a whole lost a whopping 50 billion USD in that timespan! See if BTC manages to recover quickly again (it did during the last correction last november)

[pugman]

Today, the Bitcoin is trading above $11,000 up 13.6% and has moved by $1307.06 in the single day with a total volume of $1.57B. Though Bitcoin is showing the bullish signals on the charts some of the parameters suggests that Bitcoin got overbought. It’s necessary for the BTCUSD to form a strong support and resistance level.

Is it really a bubble?

https://coincrump.com/bitcoin-price-crossed-11000/

The current scenario makes bitcoin look as if it's multiple series of bubbles  Got to admit Koreans are becoming one of the big influences as they are almost controlling the markets for potential coins right now. All started with bitcoin cash, now it is spread to bitcoin, ethereum, litecoin, monero etc. A rise of 1,300$ within a day is not a joke. People need to be careful about any sort of new investments, the markets can go down anytime if the koreans decide to dump all the pumped cryptos all together.

[Beerwizzard]

Now it dropped back below 10k$. The interesting thing iss tha it is not only correction of BTC. From the whole first page of shitcoinmarketcap (100 coins) only 5 (!) had some price increase for the last day. Lets hope this will end fast.

[S.Sandberg]

easy to answer, just take a look at the two following numbers :

Marketcap of bitcoin 1 years ago 10Billion $

Marketcap of bitcoin is 140 Billion$

Bitcoin Gains this last 12 months : 130Billion$

GDP of Qatar : 150 Billion$

Marketcap of all cryptos is about 300 Billions $

Marketcap of SAMSUNG : 340 Billion $


i think crypto currencies, attracted all of the possible nerd investors, and millionaires wannabes.

whoever think crypto market is as valuable as a company like SAMSUNG, is simply plain naive.

sure cryptos and bitcoin are really valuable, but are they really worth such a incredible amount ? ahhhh i don't think so.

Bitcoin got comparable gains to Qatar GDP . at some point, if this is not a huuuuge RED FLAG, i don't know what it is !

[Cyber Futurist]

Yes. The  Bubble. Thank you for inside info.

[shield132]

I have no idea what actually happens, it's not logical to rise price from 9500 to 11300, we were waiting for years to reach 1000$ and today bitcoin rised by more than 1000$ in some hours, that's out of control. What makes me uncomfortable is that it quckly dropped and is approximately 9200$. Wonder if anyone sold btc on today's high price.
What do others think? Does this sharp movement of price means something?

[richardsNY]

Looks like a correction is happening at this moment; BTC lost almost $2000 in the last hours, while the market cap of crypto as a whole lost a whopping 50 billion USD in that timespan! See if BTC manages to recover quickly again (it did during the last correction last november)

It's part of the game. Something that goes up in a quick fashion, will with a high probability fall down in a quick fashion. People shouldn't exaggerate things too badly with current volatility. No matter how much we went down, the $9000 level (at least for now) maintained pretty firmly, and that while it could have gone down further effortlessly. As long as the buy support is lacking, we'll see these price swings show up in a regular fashion -- maintaining anything above the $10,000 level is an insanely tough job. If you're a holder, then just ignore it since it won't affect you at all.

[Ethminer2x]

Whale using Usdt to kill bitcoin, the game just started

[DARKHOLDER]

I have no idea what actually happens, it's not logical to rise price from 9500 to 11300, we were waiting for years to reach 1000$ and today bitcoin rised by more than 1000$ in some hours, that's out of control. What makes me uncomfortable is that it quckly dropped and is approximately 9200$. Wonder if anyone sold btc on today's high price.
What do others think? Does this sharp movement of price means something?

It means that there is some people who think the current price is good for them- sold @ 11k  and they buy back @9k  ..

[Rahar02]

Well, I have missed the dip as bitcoin already recover over $10,000 again, it rises as fast as it falls.
Personally, I don't think bitcoin will get corrected significantly, yes, there will be some minor correction such as before but the market has reacted to buy back immediately. Because bitcoin will continue to rise due to bitcoin futures on December 10th.
Everyone who have sold their coins at the peak and have the chance to buy back in the dip, they are lucky obviously as it happened within few hours.

[Egoitss]

Short term Yes long-term NO.

[ubeng07]

Well, I have missed the dip as bitcoin already recover over $10,000 again, it rises as fast as it falls.
Personally, I don't think bitcoin will get corrected significantly, yes, there will be some minor correction such as before but the market has reacted to buy back immediately. Because bitcoin will continue to rise due to bitcoin futures on December 10th.
Everyone who have sold their coins at the peak and have the chance to buy back in the dip, they are lucky obviously as it happened within few hours.

as it was reaches in $11k obviously it was not a bubble it is meant to be happen and bitcoin will reaches more than that cause i believe that bitcoin are going to rise continously after this huge pump.

[pakhirgan]

Too much pumping is going here.