Bitcoin has seen the currency gain nearly $3,000 in a day - Is this healthy?

[Vannie12]

We can't tell if it is good or bad until we can deterrmine the reason for the rise. If it is a flight from the dollar, then it could be bad for world peace or the world economy.

I think it ought to increase the value of Bitcoin and Crypto domain names, so I think I'll remove the BIN prices from mine.

I was thinking the same thing. It's not that I doubt the advertising projects that could have invited users. But I think a $3k increase was very hard to explain at the moment. Since that it was about 3-4 years before it can reach that point at its first years. It too high and very scary at the moment. I am pretty sure many will be afraid of small decrease and could panic sell instantly.

[khaled0111]

It is really great to see Bitcoin reaching this level. But let's be realistic, such increase can't be a good sign.

You will be definitely satisfied if you sell your bitcoins at this price but if you think about the future of bitcoin
you will realize that it is always better if the price increases slowly and steadily in the same time.
Think about governments, do you think they will let people become billionaire without paying taxes or without being controlled.

[xuan87]

I don't think it's healthy to see the price jump that high in a short period, but since Bitcoin is a very popular investment lately, so we need to figure out why the price can go that high, if it's just the whale game then it will not a healthy rising for Bitcoin but if the price is going up because people keep on investing their money, then it is healthy for Bitcoin

[HasHe]

Is this healthy for Bitcoin in the long run?[/b] [/size]

No,its not at all healthy for bitcoin when we consider it in the long run.

I think that almost every one knows that the main reason for this price increase is the entry of CME and its rival CBOE in the bitcoin market.

US federals have given permission to CME for bitcoin derivatives.

Most are eagerly expecting december 10th and 18th on which it is expected that bitcoin futures would be listed on two exchanges.

I fear that the same crash which we experienced in the seventeenth century in Tulips would occur once more,but this time in bitcoin.  

I have been in this bitcoin market for the past two years and i'm seriously worried about the future of bitcoin.

But the newbies who have just now entered the market are excited,but they don't know the reality.

[hatshepsut93]

In the long run it's irrelevant - eventually the price will stabilize when the market will saturate o in the future Bitcoin will become "boring" just like gold is now and people will find some new technology to go crazy about. Currently, volatility may hurt its adoption as a currency or as a store of value, but at the same time, when volatility is positive, it attracts a lot of interest which ultimately also boost adoption - mainstream media wouldn't report about Bitcoin if it was rising slowly. Besides, if you'll look at the volatility analysis, it's way lower than what was happening during first years, when some 50-80% fluctuations were happening.

[XCANA]

What a crazy week!

Bitcoin has seen the currency gain nearly $3,000 in a day, and $6,000 in a week.
On Coinbase, it was trading at $19,000 at one stage today.
South Korea, as usual, saw the highest prices, at over $19,000 on Bithumb.

https://coinblip.com/blog/another-historic-day-in-the-life-of-bitcoin/

Is this healthy for Bitcoin in the long run?

Well, it is a good sign for long time period Bitcoin holders eho believe that Bitcoin market value Will reach it is today at $16,537.30 from ends on blockchian. But for those who just bought Bitcoin now or about to buy Bitcoin because of current rise in Bitcoin value, if there will be correction in the nearest future they likely be cut off.

[eaLiTy]

With the derivatives market coming up with bitcoin,i expected a rally,but nothing like this,i am not sure whether these sort of price valuation is healthy for the overall bitcoin price in the future,we are seeing only big money being poured into bitcoin and it will be difficult for small investors to even make any kind of investment until the lightening network is activated.

[habibruis]

I can't say that how much healthy is it for all.  Who have already collected some bitcoin, It is surely healthy for them. I was waiting for the price to decrease but its value and expectations are not decreasing.  so it is not healthy  at all for me.

[stripykitteh]

quite shocking friends.

It's actually not that shocking since the price was known to go up within a few years anyhow. We're just seeing the proof.

[ipanks]

if we have seen the history, the price needs a middle time to increase but now, I think it is not healthy although the price now makes people too happy. if the price still increases significantly then there will be a drop moment but I am not expecting the price drop too far. I think it is better the price increases from one level to another level than gain nearly $3k in a day and this makes me worried about what will happen later. I hope everything is fine and nothing to be worried.

[vinc3]

What a crazy week!

Bitcoin has seen the currency gain nearly $3,000 in a day, and $6,000 in a week.
On Coinbase, it was trading at $19,000 at one stage today.
South Korea, as usual, saw the highest prices, at over $19,000 on Bithumb.

https://coinblip.com/blog/another-historic-day-in-the-life-of-bitcoin/

Is this healthy for Bitcoin in the long run?

This are prices that brought up by the incoming Dec. 10 event, but let us see the real price after December, ad as we enter January surely we can see the aftermath of the events and then move forward to another year of success. Many are taking advantage of the price so we should take good care of our bitcoins for its value will be very high in the coming days, months and years. 

[01asd]

if we have seen the history, the price needs a middle time to increase but now, I think it is not healthy although the price now makes people too happy. if the price still increases significantly then there will be a drop moment but I am not expecting the price drop too far. I think it is better the price increases from one level to another level than gain nearly $3k in a day and this makes me worried about what will happen later. I hope everything is fine and nothing to be worried.

That's true, but you should note that Bitcoin might not have been that way. And sometimes there could be a price drop. We can be happy with the current Bitcoin price increase that is so devastating, but we should not be afraid and hesitate in the event of a price reduction. It's very important for us that we do not do sales due to panic. Do not let this good news make us panic if there is a sudden change. Even in my opinion, maybe in the future the development of Bitcoin prices will increase and more and more.

[vk279]

Bitcoin is unlike any thing else.  We cannot compare it to stocks, commodities or fiat currencies. Its beyond anybody's control.  It will keep going up with minor setbacks.

[NavI_027]

Its funny how people wished that Bitcoin could rise uptohealthy st month before the year ends, and here we are at 16k already and everyone is panicking because it goes way beyond the speculated price target. Ofcourse we're worried about Bitcoins future for the long run, and there are as well individuals who will take advantage. This will catch the governments attention and will take every possible steps to minimize the use of Bitcoin. Totally unhealthy in my opinion.

In what I have understood to you sir and from the others, there's no problem at all if bitcoin's growth rate is too fast or become larger to our speculated value unexpectedly; the main problem is bitcoin only might catch the attention of our governments and take action regarding this. Am I right? (please correct me if I'm wrong).

If that's the case, I may say that bitcoin's price is still healthy (according to my own opinion) because the problem we are facing is not the price itself but its effects to our economy. I think we're just a little bit threatened to what can our governments do in order to pull down btc. This situations only shows that btc is now overpowering above others.

[aalfadhala]

Here we go - Bitcoin just lost over 14% now...

[curtains15]

The issue I see is that i've noticed people buying and holding onto bitcoin in hopes of making great returns off of it, not actually using the currency as the means of transaction. That may have contributed in shooting the price up so fast recently. Crypto is usually risky in general, but in the short term for bitcoin right now it seems even more so.

[Gibreil]

in the long run it's very bad to progress, and let's not forget that everything that goes up fast, goes down just as fast

I am agreed with you opinion. Bitcoin repidly increases is ok for now but it will not long last. The more it will rise up the it will go down when it reach its peak. But it's quite amazing how the price of bitcoin goes high and high. Bitcoin surpass other cryptocurrency 2x than before.

[tiger2monkey]

In long term it is not healthy and it is not sustainable as it can not keep going up like this. Big price swing is often seen in crypto coins.

[vqscyxuo]

The price of bitcoin has already exceeded 20K, which is obviously unhealthy, and some people say it's going to be 40K, or even 50K this year. I don't think so. Such a market is entirely speculative, and this is not the true value of the bitcoin.

[Erowind]

I feel like FOMO is happening right now and a lot of noobs are going to get burned, the market is prime for a hard correction/short term crash. We'll recover into an insane bull run like always, but this time has been particularly wild. I don't think this is 'the crash' yet though.