Is Bitcoin now the biggest bubble of all time?

[Lupus Solitarius]

Someone said that a bubble is just a boom defined as  bubble by people who didn't invest in it.
Actually, all what we see if a fantastic growth, and we can profit of it.
Then, we'll see what to do.

[1714988958]

1714988958

[1714988958]

1714988958

[Anco_Marzio]

Something can be called "bubble" only after its explosion.
At present, bitcoin is the biggest boom in history, and it's wise to profit of its growth.
We'll see what to do with this presumed bubble.

[JCLee]

At present, Bitcoin rates are low and unstable in the past, if anyone says Bitcoin is a bubble, they do not understand the general cryptocurrency market as well as Bitcoin. Because the exchange rate fluctuations are not stable is very normal. And the bubble bursts when it reaches a limit point, but Bitcoin has not yet reached a limit point.

[tdrinker]

The Dutch Tulip Mania is one of the most famous bubbles of all time, for the scale of the bubble, the scale of the collapse, and probably including the seemingly obvious nature of the bubble considering the extremely limited functional utility of tulips. Bitcoin has now surpassed the multiples of value appreciation at the height of the Tulip Bubble (and by a wide margin). While this itself is not proof that Bitcoin is a bubble or that a collapse is imminent, it's worth considering if there's a lot more risk buying at this price (currently bouncing around $17,000) than anyone on these boards seems willing or able to recognize.




Thoughts?

I don't think that it's the case but you can really never say until it either happens or does not happen. If the price drops in a few weeks or months to under $100 or so then yes you'd consider it to be but I don't really think that will happen.

[jaysabi]

Even the richest people on the planet bash Bitcoin for what it isn't... I bet they're just salty they missed the ride and wanna get on the next stop lol.

Or perhaps, as Bitcoin sits less than 50% of its all time high and is still on the way down, they were right and all the dreamy-eyed HODLers are now panic selling because deep down they fear that this really was a bubble, and it's now finally popping for any myriad of reasons: Bitcoin isn't a currency, it isn't useful to transact commerce, speculative hype has run out and now the coin has to trade on utility, Bitcoin is too slow, Bitcoin is too expensive to transfer value, and on and on.

[micloop]

I don't think it is a bubble, because I have to believe on that. I don't sold anything at price spike and I wont do this now. No fears, no regrets. Does Bitcoin has its problems? Yes, it does, but I believe people will solve and Bitcoin will become better and better, till it have real utility in/to economy.

[Sithara007]

Even at its peak, the total market cap of the crypto-currencies was around $750 billion. Now compare this to the total market capitalization of NASDAQ in 2000, which was around $5 trillion. So we can't yet call Bitcoin as the biggest bubble of all time. There are two reasons. First of all, we are not sure whether it is a bubble or not. And secondly, the market cap is less than that of the dot com bubble.

[maarx]

Even at its peak, the total market cap of the crypto-currencies was around $750 billion. Now compare this to the total market capitalization of NASDAQ in 2000, which was around $5 trillion. So we can't yet call Bitcoin as the biggest bubble of all time. There are two reasons. First of all, we are not sure whether it is a bubble or not. And secondly, the market cap is less than that of the dot com bubble.

Yah. Even the studies say that even none adaopts bitcoin, the market will go down to 70% from the current position $700 billian to $223 billian by the end of Decemer 2018. Current situation is not really a biggest bubble of the history. I am sure this would be the last one. Adaption are in progress. The value would resume as quickly as possible. All who holds coins should really wait for atleast  a month to see this situation changes 

[Vatimins]

Even the richest people on the planet bash Bitcoin for what it isn't... I bet they're just salty they missed the ride and wanna get on the next stop lol.

Or perhaps, as Bitcoin sits less than 50% of its all time high and is still on the way down, they were right and all the dreamy-eyed HODLers are now panic selling because deep down they fear that this really was a bubble, and it's now finally popping for any myriad of reasons: Bitcoin isn't a currency, it isn't useful to transact commerce, speculative hype has run out and now the coin has to trade on utility, Bitcoin is too slow, Bitcoin is too expensive to transfer value, and on and on.

    You state great points my friend, and i really do agree on some. But the thing is, lightning network is about to put an end to the main problems of bitcoins. And evry day we are getting close to the time of implementation of this new idea. There have been tests already that were successful. And i think this will be a way toake bitcoin reach incredible heights again. Breaking records by records all over again.

      And abiut the big price drops? I am more hapoy than worried. In fact, i am hoping for lower dips so i can buy a lot more bitcoins for a cheap price. But sadly, i think these dips will only be lasting for this month. Oh well, at least this dip has gotten rid of weak handed noobs that are bad for the crypto world as a whole.

[Crypto Lion]

It's in the biggest bubble I've seen so far man. This is because of the way it dropped from 15K to like 9K. The best option at this point is to either sell your dying altcoins and hold onto the cryptos that have a good market cap.

This is a tough recession that usually happens in the year, but chances are it will bounce back. No $400 billion dollar concept will go to 0 dollars in one week that's absurd.

[Tabanta]

I'm no economist, but there are far bigger bubbles imo.

Think about overpriced medication for example, or immovables, which caused the world slump 10 years ago..


Man I really hope that BTC does recover..but tbh could very well be that 20k $ was the highest point..

[jaysabi]

Even the richest people on the planet bash Bitcoin for what it isn't... I bet they're just salty they missed the ride and wanna get on the next stop lol.

Or perhaps, as Bitcoin sits less than 50% of its all time high and is still on the way down, they were right and all the dreamy-eyed HODLers are now panic selling because deep down they fear that this really was a bubble, and it's now finally popping for any myriad of reasons: Bitcoin isn't a currency, it isn't useful to transact commerce, speculative hype has run out and now the coin has to trade on utility, Bitcoin is too slow, Bitcoin is too expensive to transfer value, and on and on.

    You state great points my friend, and i really do agree on some. But the thing is, lightning network is about to put an end to the main problems of bitcoins. And evry day we are getting close to the time of implementation of this new idea. There have been tests already that were successful. And i think this will be a way toake bitcoin reach incredible heights again. Breaking records by records all over again.

      And abiut the big price drops? I am more hapoy than worried. In fact, i am hoping for lower dips so i can buy a lot more bitcoins for a cheap price. But sadly, i think these dips will only be lasting for this month. Oh well, at least this dip has gotten rid of weak handed noobs that are bad for the crypto world as a whole.

I hear an awful lot about how lightning network is going to be a game changer and make Bitcoin faster and cheaper again. This is needed, at a minimum. I hope it does, but my main concern with lightning network is that isn't it a centralized solution to the problems caused by decentralization and limited block space? People are so against raising the block size of Bitcoin because they argue about how much centralization it will cause by the miners, but isn't lightning network centralization of the transactions on a much more direct scale? This is currently what I don't understand.

[Cryptomagnus]

Someone once said a bubble is a boom that the person describing the bubble has not invested in.
There is a lot of envy in these days, and lot of people don't accept they lost a so big opportunity.
Bubble or not, the profit is BIG!

[Mystezi]

To me ,yes bitcoin is a huge huge bubble of all time.Firstly,Bitcoin cant be used to pay wages due to Bitcoin huge and crazy price fall and rise. People will not want to be paid wages in Bitcoin which  can fall 30% in a day.It is very clear that the price of Bitcoin is based on speculation.Bitcoin had already shot up from less than 1k USD in Jan 2017 to almost 20K USD in December.If this is not a huge bubble, I do not know what is.In fact,Bitcoin rise had ticked almost all the box on the bubble checklist.

1) Most bubbles erupt off on new technology aka dot.com boom in 90s. ( Blockchain )

2) Constant media coverage which allow more investors to have FOMO

3) Speculation driving prices beyond fundamental value ( Hard to find what the value of Bitcoin has except of some strings of code)

Like all bubble, Bubbles do POP and everyone should be careful when it pop.Indeed Bitcoin is one of the biggest bubble of all time.

[BitcoinPaw]

I am not sure that bitcoin is bubble at all. Bitcoin development is going cause many people working on it and it so stupid to turn almost perfect currency into bubble.

[ratnaantiqu3]

Indeed for now the bitcoin touched its highest level. Often there are significant price differences on different bitcoin exchange exchanges.
Bitcoin is uncertain because here we are betting.

[bitllionaire]

To me ,yes bitcoin is a huge huge bubble of all time.Firstly,Bitcoin cant be used to pay wages due to Bitcoin huge and crazy price fall and rise. People will not want to be paid wages in Bitcoin which  can fall 30% in a day.It is very clear that the price of Bitcoin is based on speculation.Bitcoin had already shot up from less than 1k USD in Jan 2017 to almost 20K USD in December.If this is not a huge bubble, I do not know what is.In fact,Bitcoin rise had ticked almost all the box on the bubble checklist.

1) Most bubbles erupt off on new technology aka dot.com boom in 90s. ( Blockchain )

2) Constant media coverage which allow more investors to have FOMO

3) Speculation driving prices beyond fundamental value ( Hard to find what the value of Bitcoin has except of some strings of code)

Like all bubble, Bubbles do POP and everyone should be careful when it pop.Indeed Bitcoin is one of the biggest bubble of all time.

I will never consider it as bubble because the increase in the price of bitcoin is because of the increasing demand of bitcoin and still  the increasing demand of bitcoin is increasing from time to time therefore i do no think that that it is right to consider bitcoin as a big bubble. Hope that with the passage of time the interest of the people in bitcoin will increase and will we see more increase in the price of bitcoin.

[patapon49]

Be bitcoin is not a bubble, it is the speculation that potentially it will become a bubble

[Tenderino]

Bitcoin's price nine months ago was $1,000 and now the price is $12,000. How is the increase of 1200% a bubble?

Why do you compare tulips that no one need for living with a payment system? Does not make any sense in my opinion!

[Apple Mac]

I believe so too. This fluctuative price of bitcoin is a problem, so I think it's possible for bitcoin to crash in any time. I totally believe that it's very risky to buy bitcoin at this rate. That's why I stick with altcoins now

I certainly agree with this, Bitcoin is currently on a unstable situation where in the price may dump any time in its worst and the pumping of the currency were too slow ,which makes other investors to be worried as well as the peoole who works and holds a profit who expects for it to be on a better price. The alleged crash of Bitcoin is not impossible due to the fact that several countries has been banning Bitcoin to their states.