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Author Topic: Where are we in the bubble  (Read 24 times)
traderperspective
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December 19, 2017, 03:57:13 PM
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The title might imply that I am bearish, though I want to stress this is NOT the case. I am very bullish on crypto, however I am also accepting the fact that we are in a bubble. This is not necessarily negative, I think all major innovations are going through bubbles in order to pick the winners at last, and I do NOT view crypto as the tulip mania, more like internet adoption.

The big question is: where are we in this bubble? Are we in the very beginning thus we can expect the market to go higher for a couple of more years, of course with some pull backs along the way. Or are we in the mature phase, or in the very end?
Personally, I believe we are in the phase where major adoption is about to happen, and I see the market of 2018 is going to be wonderful. However, I am looking for other peoples opinions. What is your belief?
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mk4
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December 19, 2017, 04:15:46 PM
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No one honestly really knows, but here's my guess: I personally think the bubble is going to pop soon. We've what? Pretty much tripled in price in a single month? That's really too much. I could really see a sharp drop(though hopefully not lower than $5,000), as we've had alot lot of weak hands from clueless investors (even some guys grandma probably went full FOMO). The huge number of "bitcoin will make me rich!" investors will probably have a sort of domino effect of selling offers after a drop in price, hence making the drop alot bigger.

- just my 2 satoshis

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December 19, 2017, 05:37:53 PM
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No one honestly really knows, but here's my guess: I personally think the bubble is going to pop soon. We've what? Pretty much tripled in price in a single month? That's really too much. I could really see a sharp drop(though hopefully not lower than $5,000), as we've had alot lot of weak hands from clueless investors (even some guys grandma probably went full FOMO). The huge number of "bitcoin will make me rich!" investors will probably have a sort of domino effect of selling offers after a drop in price, hence making the drop alot bigger.

- just my 2 satoshis

$5,000 is too low, I think $10,000 could be a strong support, there are way too many investors with waaay too much fiat ready to buy, and $10,000 is an attractive entry point now, which may pull enough traction to keep growing from there.

$7,500 was the previous highs at the double top before we went parabolic, that's as low as I see it.

But this could be the START of the real parabolic move for all we know. Remember that bubbles are impossible to discern in a completely new asset class that's limited in amount forever... good luck with that, id rather not risk my position and just hodl and buy the dip.
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