The REAL bubbles

[S3052]

So many people have predicted that bitcoin is in a bubble and is doomed to death.
There are most often the same people who push stocks up into bubble territory.

Now let's get to the bottom of this:

1) Is Bitcoin in a bubble?
Look at that longterm chart. Where is the bubble? I can't see it.
The uptrend is healthy.

2) What are REAL bubbles?
The NASDAQ bubble has already popped 13 years ago
There are some new bubble stocks in there that either have already popped or will do soon (LNKD, PCLN, etc.)

these are the real bubbles

how do other see that?

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[vokain]

Bubbles are artificial 

[S3052]

Bubbles are artificial 

yes, like the stock market is pumped up by the QE from the fed.

Bitcoin is real.

[Zaih]

Saying it how it is

[S3052]

Saying it how it is

yes, I wonder what the media says when bitcoin hits 1000$. perhaps they will again call a bubble or they say that next target is 10000$.
If they say the latter, I'd be wary about a bubble. If it is the former, there is more upside.

And on stocks, we can wait until the financial media calls for "sell stocks", because this will be close to the actual bottom. This may be around 400 for the dow jones industrials.

[AU]

$1000... when?? Stop lyin bro

[S3052]

$1000... when?? Stop lyin bro

this is not a forecast.

I said that if/when BTC would hit 1000$ we should carefully watch the public sentiment to judge whether there is more upside or whether we will see  a big correction first.

[ElectricMucus]

Right there:

for reference:

[S3052]

Right there:

for reference:

This is possible when looking at the nominal chart but the log chart shows something different

[ElectricMucus]

This is possible when looking at the nominal chart but the log chart shows something different

So?

[Birdy]

Right there:

for reference:

This is possible when looking at the nominal chart but the log chart shows something different

So in despair Bitcoin will dip into negative value?
Sounds right.

[jeannie]

So many people have predicted that bitcoin is in a bubble and is doomed to death.
There are most often the same people who push stocks up into bubble territory.

Now let's get to the bottom of this:

1) Is Bitcoin in a bubble?
Look at that longterm chart. Where is the bubble? I can't see it.
The uptrend is healthy.

2) What are REAL bubbles?
The NASDAQ bubble has already popped 13 years ago
There are some new bubble stocks in there that either have already popped or will do soon (LNKD, PCLN, etc.)

these are the real bubbles

how do other see that?

How do you define what is a Bubble?

[ElectricMucus]

So in despair Bitcoin will dip into negative value?
Sounds right.

If you consider the average bitcoin would represent an amount of a defaulted bank loan it is.

[Birdy]

So in despair Bitcoin will dip into negative value?
Sounds right.

If you consider the average bitcoin would represent an amount of a defaulted bank loan it is.

That would be a really stupid assumption ^^
Unless the USA declares Bitcoin illegal/goes on grand scale attack against Bitcoin or some serious protocol bug I doubt the price will fall under $50 again.

[ElectricMucus]

So in despair Bitcoin will dip into negative value?
Sounds right.

If you consider the average bitcoin would represent an amount of a defaulted bank loan it is.

That would be a really stupid assumption ^^

Not really, it's stupid to buy Bitcoins on credit.

[teukon]

This is possible when looking at the nominal chart but the log chart shows something different

I've always wondered about nominal charts.  The linear scale is by far the most popular scale for fiat/BTC graphs here and is the default scale on some chart-drawing sites such as bitcoincharts.com.  However, for comparing the relative market value of two commodities, the logarithmic scale makes things much easier to see (trend lines become straight for example).

Is there some reason people prefer linear-scale charts for value comparisons?  Do professional traders use them?  What am I missing?

[Ozymandias]

This is possible when looking at the nominal chart but the log chart shows something different

I've always wondered about nominal charts.  The linear scale is by far the most popular scale for fiat/BTC graphs here and is the default scale on some chart-drawing sites such as bitcoincharts.com.  However, for comparing the relative market value of two commodities, the logarithmic scale makes things much easier to see (trend lines become straight for example).

Is there some reason people prefer linear-scale charts for value comparisons?  Do professional traders use them?  What am I missing?

It's easier to scare newbies with the nominal price charts since all price movement is exaggerated, especially after the recent order-of-magnitude growth

[ElectricMucus]

Nominal charts make sense if there is an overall constant demand and fluctuations within a magnitude around it. This illustration has a nominal range in mind, we shall see if it applies.

[Walsoraj]

there was no bubble, we are rocketing to the oort cloud. hold on

[xxjs]

$1000... when?? Stop lyin bro

this is not a forecast.

I said that if/when BTC would hit 1000$ we should carefully watch the public sentiment to judge whether there is more upside or whether we will see  a big correction first.

There is something peculiar with your comments - did you spill ink on the keyboard?