Why you should worry this is a bubble

[monkeydominicorobin]

Another Nobel laureate came out against Bitcoin.

We're all familiar with the banking CEOs (Jamie Dimon) who have been critical of bitcoin, and it's easy for people to dismiss their criticism as coming from a party with interests they view to be directly threatened by Bitcoin. (I don't entirely buy that argument, but nonetheless...) What should be more concerning is the people who have won Nobel prizes in economics voicing concern over the sustainability of Bitcoin's price. Yesterday, Noble laureate Joseph Stiglitz said bitcoin should be outlawed. (Reckless statement IMO.)

However, today, none other than Robert Shiller said that Bitcoin was destined to crash, and this is a much bigger deal because of who Robert Shiller is and his work. Robert Shiller's line of economic work deals specifically with the prediction of asset prices and the inefficiency of markets. Mr. Shiller's work lead to the establishment of the Case-Shiller Index which is used to value home prices in the US, and Mr. Shiller famously warned about the dotcom bubble and the housing bubble before anyone recognized they were bubbles. Here he is in 2005 warning that housing was a bubble detached from economic reality, and that it was destine to crash:  https://www.npr.org/templates/story/story.php?storyId=4679264.

Here's one key passage where he is talking about the housing bubble, and see if this doesn't sound exactly like Bitcoin right now:



So yesterday, Shiller said this exactly about Bitcoin:

"Bitcoin, it’s just absolutely exciting. You’re fast. You’re smart. You’ve figured out nobody else understands. You’re with it. And bitcoin has this anti-government, anti-regulation feel. It’s such a wonderful story. If it were only true. ... I don’t know where it’s going to stop. It’s going to go way up, like the stock market in the 1920s. We will reach a 1929 eventually. But then it won’t go to zero, it just will come down."

This is one guy who when he says something is a bubble, people ought to listen.

Five years ago when Bitcoin reached $100 per unit. Everybody said that the bubble will burst. Now Bitcoin is about to burst.AGAIN? Stupid speculators are stupid after all. It will never burst.

[Dodoymabs]

Another Nobel laureate came out against Bitcoin.

We're all familiar with the banking CEOs (Jamie Dimon) who have been critical of bitcoin, and it's easy for people to dismiss their criticism as coming from a party with interests they view to be directly threatened by Bitcoin. (I don't entirely buy that argument, but nonetheless...) What should be more concerning is the people who have won Nobel prizes in economics voicing concern over the sustainability of Bitcoin's price. Yesterday, Noble laureate Joseph Stiglitz said bitcoin should be outlawed. (Reckless statement IMO.)

However, today, none other than Robert Shiller said that Bitcoin was destined to crash, and this is a much bigger deal because of who Robert Shiller is and his work. Robert Shiller's line of economic work deals specifically with the prediction of asset prices and the inefficiency of markets. Mr. Shiller's work lead to the establishment of the Case-Shiller Index which is used to value home prices in the US, and Mr. Shiller famously warned about the dotcom bubble and the housing bubble before anyone recognized they were bubbles. Here he is in 2005 warning that housing was a bubble detached from economic reality, and that it was destine to crash:  https://www.npr.org/templates/story/story.php?storyId=4679264.

Here's one key passage where he is talking about the housing bubble, and see if this doesn't sound exactly like Bitcoin right now:



So yesterday, Shiller said this exactly about Bitcoin:

"Bitcoin, it’s just absolutely exciting. You’re fast. You’re smart. You’ve figured out nobody else understands. You’re with it. And bitcoin has this anti-government, anti-regulation feel. It’s such a wonderful story. If it were only true. ... I don’t know where it’s going to stop. It’s going to go way up, like the stock market in the 1920s. We will reach a 1929 eventually. But then it won’t go to zero, it just will come down."

This is one guy who when he says something is a bubble, people ought to listen.

Five years ago when Bitcoin reached $100 per unit. Everybody said that the bubble will burst. Now Bitcoin is about to burst.AGAIN? Stupid speculators are stupid after all. It will never burst.

That's the reason why bitcoin is becoming stronger and keeps increasing due to the negative speculation about it. Especially business minded people who doesn't believe crypto are th one who accusing that btc is really a bubble. I can say as this moment that they are wrong about their predictions. Bitcoin will keep increasing and a bubble that they talking about will never happen. 

[kalawang]

Another Nobel laureate came out against Bitcoin.

We're all familiar with the banking CEOs (Jamie Dimon) who have been critical of bitcoin, and it's easy for people to dismiss their criticism as coming from a party with interests they view to be directly threatened by Bitcoin. (I don't entirely buy that argument, but nonetheless...) What should be more concerning is the people who have won Nobel prizes in economics voicing concern over the sustainability of Bitcoin's price. Yesterday, Noble laureate Joseph Stiglitz said bitcoin should be outlawed. (Reckless statement IMO.)

However, today, none other than Robert Shiller said that Bitcoin was destined to crash, and this is a much bigger deal because of who Robert Shiller is and his work. Robert Shiller's line of economic work deals specifically with the prediction of asset prices and the inefficiency of markets. Mr. Shiller's work lead to the establishment of the Case-Shiller Index which is used to value home prices in the US, and Mr. Shiller famously warned about the dotcom bubble and the housing bubble before anyone recognized they were bubbles. Here he is in 2005 warning that housing was a bubble detached from economic reality, and that it was destine to crash:  https://www.npr.org/templates/story/story.php?storyId=4679264.

Here's one key passage where he is talking about the housing bubble, and see if this doesn't sound exactly like Bitcoin right now:



So yesterday, Shiller said this exactly about Bitcoin:

"Bitcoin, it’s just absolutely exciting. You’re fast. You’re smart. You’ve figured out nobody else understands. You’re with it. And bitcoin has this anti-government, anti-regulation feel. It’s such a wonderful story. If it were only true. ... I don’t know where it’s going to stop. It’s going to go way up, like the stock market in the 1920s. We will reach a 1929 eventually. But then it won’t go to zero, it just will come down."

This is one guy who when he says something is a bubble, people ought to listen.

This is their another way to sell people their bitcoin so thats why the value of bitcoin will go down again and they will buy bitcoin that is the life ! Dont panic if some people said that bitcoin is only a bubble because i think bitcoin is the next currency in the world.

[okala]

I read an article online, that great corrections is coming and the downward trend may last for long but this will start when bitcoin get to  $25,000! This current upward trend is going to last till middle of next year before we can see any significant changes. I think bitcoin is not a bubble and we should look at bitcoin as a currency, though it has not been used as a mode of payment by major online mainstream shop but in future when the volatiles has reduced we would see how bitcoin is going to serve as money.

[kohlicool54]

We should not take these statements into consideration.
Bitcoin is first of its kind. yet all know when there is an rapid growth there will an slight fall.

[HasHe]

Most of us now know that we all are now facing a bitcoin bubble.People have continued to buy bitcoins with great excitement and the entry of wall street companies like CME have made this excitement more which has inturn led to this high price.But i'm being a long term holder don't bother such price hikes and dips.Even if its price falls more,i know about bitcoin's potential very well.I would just continue to hold.But when this bubble bursts,most of the newbies would flew away.

[glowing10]

We should not take these statements into consideration.
Bitcoin is first of its kind. yet all know when there is an rapid growth there will an slight fall.

Slight fall is not a problem but when the growth take place of 2k in 24 hrs or so which is not very justifiable the questions arises or a panic mode gets on and thus people start getting worried about it. And when falls take place on such instances it will be a crash and not just some 500 - 1000$ falls. On other hand if the growth takes on slowly and progresses it would be considered more viable.

[matuson]

Most of us now know that we all are now facing a bitcoin bubble.People have continued to buy bitcoins with great excitement and the entry of wall street companies like CME have made this excitement more which has inturn led to this high price.But i'm being a long term holder don't bother such price hikes and dips.Even if its price falls more,i know about bitcoin's potential very well.I would just continue to hold.But when this bubble bursts,most of the newbies would flew away.

I also use this tactic. Now it seems to me most successful. But to be honest it worries me a permanent increase in the price of bitcoin. I understand that it can end in a huge fall. But the problem is not even that. After each price increase makes me harder to earn coins. If the price falls then all my present income will turn into nothing.

[Prettyme]

Well I do agree with him about the bitcoin going up in value way too fast and that it will stop at some point even go down. The going down part happened many times already. He also said something true which is it will not go down to zero. But the question is when will it stop growing in value? The estimate is it will go up to 100k usd before it will stop going up.

So just always remember that bitcoin is not stable there are times that it goes up and goes down. Worrying about a bubble??  I think I am not worrying about it because expected that this would be happen it is just like bubble that will goes down fastly but it definitely recover.

[Ailmand]

Another Nobel laureate came out against Bitcoin.

We're all familiar with the banking CEOs (Jamie Dimon) who have been critical of bitcoin, and it's easy for people to dismiss their criticism as coming from a party with interests they view to be directly threatened by Bitcoin. (I don't entirely buy that argument, but nonetheless...) What should be more concerning is the people who have won Nobel prizes in economics voicing concern over the sustainability of Bitcoin's price. Yesterday, Noble laureate Joseph Stiglitz said bitcoin should be outlawed. (Reckless statement IMO.)

However, today, none other than Robert Shiller said that Bitcoin was destined to crash, and this is a much bigger deal because of who Robert Shiller is and his work. Robert Shiller's line of economic work deals specifically with the prediction of asset prices and the inefficiency of markets. Mr. Shiller's work lead to the establishment of the Case-Shiller Index which is used to value home prices in the US, and Mr. Shiller famously warned about the dotcom bubble and the housing bubble before anyone recognized they were bubbles. Here he is in 2005 warning that housing was a bubble detached from economic reality, and that it was destine to crash:  https://www.npr.org/templates/story/story.php?storyId=4679264.

Here's one key passage where he is talking about the housing bubble, and see if this doesn't sound exactly like Bitcoin right now:



So yesterday, Shiller said this exactly about Bitcoin:

"Bitcoin, it’s just absolutely exciting. You’re fast. You’re smart. You’ve figured out nobody else understands. You’re with it. And bitcoin has this anti-government, anti-regulation feel. It’s such a wonderful story. If it were only true. ... I don’t know where it’s going to stop. It’s going to go way up, like the stock market in the 1920s. We will reach a 1929 eventually. But then it won’t go to zero, it just will come down."

This is one guy who when he says something is a bubble, people ought to listen.

So? He directly states he does not know when this is going to stop, so his prediction as always is as good as anyone else's prediction, we all know that once a bubble starts at some point it needs to burst, to have a Nobel prize his predictions are awfully vague, besides to stock market of 1929 eventually recovered, bitcoin is not going to disappear so for all of us that are holders we do not care if the bubble burst or not.

I agree with your point. Right now, no one can really accurately tell how this rise would pause or would stop for a while. Also, I do not think that it is a bubble being bitcoin has maintained value and power amongst all other coins in the market. It has endured many forks, changes in market trends and surges from alts. Thus, as far as I know, it is legit and for real.

[asriloni]

Most of us now know that we all are now facing a bitcoin bubble.People have continued to buy bitcoins with great excitement and the entry of wall street companies like CME have made this excitement more which has inturn led to this high price.But i'm being a long term holder don't bother such price hikes and dips.Even if its price falls more,i know about bitcoin's potential very well.I would just continue to hold.But when this bubble bursts,most of the newbies would flew away.

What do you mean about facing the bitcoin bubble? The bitcoin is a bubble and that will be applied anytime. The flash jump, flash crash and another pump and dump become a real evidence how the bitcoin is a bubble right now. With no actual price and bitcoin was a bubble.

[Rahar02]

Bitcoin gain so much value within years, but it's different in this year or in the last few months since August when bitcoin price increase significantly. Many people worry this is a bubble, in short; bitcoin isn't a bubble and it won't burst simply because bitcoin has a real usability, a better monetary system. It just a matter of time or until the economic collapse, then people will realize; decentralized digital currency becomes a savior such as in Venezuela or Zimbabwe.

[sindikat]

Bitcoin gain so much value within years, but it's different in this year or in the last few months since August when bitcoin price increase significantly. Many people worry this is a bubble, in short; bitcoin isn't a bubble and it won't burst simply because bitcoin has a real usability, a better monetary system. It just a matter of time or until the economic collapse, then people will realize; decentralized digital currency becomes a savior such as in Venezuela or Zimbabwe.

I think you're wrong. Currency is part of the economy of the country. But the economy should work smoothly and without jerks. For this, the government uses manual control of the economy, including through currency. How do you imagine to do with cryptocurrencies? No they are absolutely not adapted to the state of the economy.

[cizatext]

I think all of their opinions are politically multivated in the sense that the process that earn them they status is questionable. They lack the credibility to call or refers to bitcoin as a bubble, bitcoin as a digital currency has the capacity to accumulate any amount or market cap as long as bitcoin is able to sustain it market value and price cap. Bitcoin is free to rise to any amount even up to a million dollars at any time and nothing negative will happen as the anti bitcoin are professing.

[zarados]

for people who have long been in the world of trading, they will see this as a bubble, where the increase is very significant and sharp. But it is different when they enter the world of cryptocurrency investments. Price movements above 10% per day are very reasonable, even some altcoins are moving up over 50% in a matter of days. Therefore, I think there is nothing to worry about with this situation. Whatever happens, bitcoin will not return to $ 5k or less. In fact, I'm sure, if the price back touching $ 10k, people will race to get it, and the price will rise again.

[kimochidesh]

BTC now a days has been dropped from its major intent (i.e to be an alternative mode of payment). Major reason behind it is too high transaction fees and too much confirmation time to complete a transaction.
So BTC is now serving the role of an investment instrument rather than being an alternative currency. The reason behind the rise is quite simple, people are inventing on BTC seeing its price growth in past year. they are looking the growth, not the concept which is a wrong approach. As BTC does not have any income source of its own, that is why I feel it is just being a bubble now.

[ngavanngo22]

Another Nobel laureate came out against Bitcoin.

We're all familiar with the banking CEOs (Jamie Dimon) who have been critical of bitcoin, and it's easy for people to dismiss their criticism as coming from a party with interests they view to be directly threatened by Bitcoin. (I don't entirely buy that argument, but nonetheless...) What should be more concerning is the people who have won Nobel prizes in economics voicing concern over the sustainability of Bitcoin's price. Yesterday, Noble laureate Joseph Stiglitz said bitcoin should be outlawed. (Reckless statement IMO.)

However, today, none other than Robert Shiller said that Bitcoin was destined to crash, and this is a much bigger deal because of who Robert Shiller is and his work. Robert Shiller's line of economic work deals specifically with the prediction of asset prices and the inefficiency of markets. Mr. Shiller's work lead to the establishment of the Case-Shiller Index which is used to value home prices in the US, and Mr. Shiller famously warned about the dotcom bubble and the housing bubble before anyone recognized they were bubbles. Here he is in 2005 warning that housing was a bubble detached from economic reality, and that it was destine to crash:  https://www.npr.org/templates/story/story.php?storyId=4679264.

Here's one key passage where he is talking about the housing bubble, and see if this doesn't sound exactly like Bitcoin right now:



So yesterday, Shiller said this exactly about Bitcoin:

"Bitcoin, it’s just absolutely exciting. You’re fast. You’re smart. You’ve figured out nobody else understands. You’re with it. And bitcoin has this anti-government, anti-regulation feel. It’s such a wonderful story. If it were only true. ... I don’t know where it’s going to stop. It’s going to go way up, like the stock market in the 1920s. We will reach a 1929 eventually. But then it won’t go to zero, it just will come down."

This is one guy who when he says something is a bubble, people ought to listen.

If you learn about Bitcoin as well as cryptocurrency, then this is just the way of the big guys to drown the BTC down to buy, then one time the price of BTC to the peak will simultaneously sell to make a huge profit. In fact, the BTC for the next 10 years will continue to develop and there will be no sign of disappearing as long as there is a need for it, it will remain in any form.

[cryptocrusher]

I think any one with half a brain can see that bitcoin is beginning to grow exponentially and knows that can not continue, the question really is though is are we approaching the top now or will it be at 50k, 100k or even higher? Even for those who do not believe we are in a bubble they should still fear that we are as it will keep them sensible.

[DanWagner]

I think any one with half a brain can see that bitcoin is beginning to grow exponentially and knows that can not continue, the question really is though is are we approaching the top now or will it be at 50k, 100k or even higher? Even for those who do not believe we are in a bubble they should still fear that we are as it will keep them sensible.

This is the important question , i like to think we are almost at the peak. But i didn't see btc rising this high that fast. People just need to accept that there is a big correction coming soon but when that is nobody knows.

[Hamstead]

I think any one with half a brain can see that bitcoin is beginning to grow exponentially and knows that can not continue, the question really is though is are we approaching the top now or will it be at 50k, 100k or even higher? Even for those who do not believe we are in a bubble they should still fear that we are as it will keep them sensible.

This is the important question , i like to think we are almost at the peak. But i didn't see btc rising this high that fast. People just need to accept that there is a big correction coming soon but when that is nobody knows.

Total awareness of the community might not increase the panic selling scenarios when bitcoin price will suddenly go down. Or even have a worst thing happen to bitcoin in the coming days. Though they call bitcoin is a bubble but it won't mind by the investors, because all they have in their mind is that they'll gonna earned from investing  with bitcoin.