Bitcoin’s Hype Vanishes Just Like That: ‘We’re in the Boring Phase’

[bbc.reporter]

It is funny that there are cryptospace deniers and cynics left who are becoming so blatant in trying to steer the conversation to bitcoin's hype is gone and therefore everyone should avoid it.

This article was published on almost the same time as when bitcoin started to pump and break $7000 with high volume. Coincidence?



J.C. Parets, a technical markets analyst in New York, remembers getting multiple phone calls a day about cryptocurrencies late last year. Clients, old high school friends, strangers and even his 88-year-old grandmother were intrigued.

“It wasn’t even like ‘should I buy crypto’ but instead it was ‘which one?’” he said. “Everyone was in on it.”

Four months later, those calls stopped coming.

“Nobody cares anymore,” Mr. Parets said.

To be sure, crypto die-hards are still passionate about digital currencies. But many first-time bitcoin buyers who came into the market in December and January are sitting on losses. Mainstream interest in the cryptocurrency market has diminished.

Regulators in the U.S., South Korea, and India are trying to curb speculative activity. Facebook Inc., Google Inc. and Twitter Inc. are banning advertising related to cryptocurrencies to stop scammers from promoting fraudulent schemes on these social-media platforms.

“All the hype is gone,” said Vijay Boyapati, a software engineer in Seattle who previously worked at Google and a food-delivery startup, and is nevertheless preparing to take a job in the cryptocurrency industry. “I think right now we’re in the boring phase.”

Read in full https://www.wsj.com/articles/bitcoins-hype-vanishes-just-like-that-were-in-the-boring-phase-1523534400

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[HabBear]

Yeah, I read this article too.

Bitcoin being boring is good for us. The headline comment equating Bitcoin to collecting baseball cards or comic books is foolish and naive. It's as silly as CNBC's ranting about how Bitcoin was a bubble or a fraud or a scam or a ponzi scheme or whatever they were shilling back in Q4 2017.

People were totally turned off from .com stocks in late 2000...and for a few years until the companies with sound business plans started to make more apparent presence in people's every day life. Blockchain based tokens are no different. Blockchain isn't going anywhere and as its utility becomes more apparent in people's every day life the associated tokens/currencies will become more attractive from an investment perspective.

[pooya87]

what the author is describing as "hype" is simply a surge of newbies who didn't understand what is what! obviously they are mostly gone since their dreams of becoming rich with bitcoin and even altcoins in less than a week was shattered when they faced the reality.
other than those newbies, everyone else is still pretty much in. nobody went anywhere, they are still trading bitcoin, the whales accumulating, millionaires buying silently (parking their money in bitcoin) and a lot more.

but none of it is the reason to call this a "boring phase" i think yesterday's big rise proved that to be true.

[northcoin2018]

It is funny that there are cryptospace deniers and cynics left who are becoming so blatant in trying to steer the conversation to bitcoin's hype is gone and therefore everyone should avoid it.

This article was published on almost the same time as when bitcoin started to pump and break $7000 with high volume. Coincidence?

https://si.wsj.net/public/resources/images/B3-AA179_BITBOR_M_20180411123330.jpg

J.C. Parets, a technical markets analyst in New York, remembers getting multiple phone calls a day about cryptocurrencies late last year. Clients, old high school friends, strangers and even his 88-year-old grandmother were intrigued.

“It wasn’t even like ‘should I buy crypto’ but instead it was ‘which one?’” he said. “Everyone was in on it.”

Four months later, those calls stopped coming.

“Nobody cares anymore,” Mr. Parets said.

To be sure, crypto die-hards are still passionate about digital currencies. But many first-time bitcoin buyers who came into the market in December and January are sitting on losses. Mainstream interest in the cryptocurrency market has diminished.

Regulators in the U.S., South Korea, and India are trying to curb speculative activity. Facebook Inc., Google Inc. and Twitter Inc. are banning advertising related to cryptocurrencies to stop scammers from promoting fraudulent schemes on these social-media platforms.

“All the hype is gone,” said Vijay Boyapati, a software engineer in Seattle who previously worked at Google and a food-delivery startup, and is nevertheless preparing to take a job in the cryptocurrency industry. “I think right now we’re in the boring phase.”

Read in full https://www.wsj.com/articles/bitcoins-hype-vanishes-just-like-that-were-in-the-boring-phase-1523534400

It went from boring to a total rocketter!.. For those naysayers of bitcoin and for those people who believe in them sorry for your lost guys as you can see bitcoin can turn around everything in a short span of time look at the price who would have thought that it could pricr increased like that in just 45minutes this is insanely good!  This is a positive movement and many negative speculators must rethink about their bad comments about bitcoin. The volatility of bitcoin is what is making it exciting!

[Fulmand]

It is funny that there are cryptospace deniers and cynics left who are becoming so blatant in trying to steer the conversation to bitcoin's hype is gone and therefore everyone should avoid it.

This article was published on almost the same time as when bitcoin started to pump and break $7000 with high volume. Coincidence?



J.C. Parets, a technical markets analyst in New York, remembers getting multiple phone calls a day about cryptocurrencies late last year. Clients, old high school friends, strangers and even his 88-year-old grandmother were intrigued.

“It wasn’t even like ‘should I buy crypto’ but instead it was ‘which one?’” he said. “Everyone was in on it.”

Four months later, those calls stopped coming.

“Nobody cares anymore,” Mr. Parets said.

To be sure, crypto die-hards are still passionate about digital currencies. But many first-time bitcoin buyers who came into the market in December and January are sitting on losses. Mainstream interest in the cryptocurrency market has diminished.

Regulators in the U.S., South Korea, and India are trying to curb speculative activity. Facebook Inc., Google Inc. and Twitter Inc. are banning advertising related to cryptocurrencies to stop scammers from promoting fraudulent schemes on these social-media platforms.

“All the hype is gone,” said Vijay Boyapati, a software engineer in Seattle who previously worked at Google and a food-delivery startup, and is nevertheless preparing to take a job in the cryptocurrency industry. “I think right now we’re in the boring phase.”

Read in full https://www.wsj.com/articles/bitcoins-hype-vanishes-just-like-that-were-in-the-boring-phase-1523534400

I think this article was written a long time ago, this is during last year or possibly last last year. This was also written during the condition of bitcoin similar at to this past few months were it was dropping and people are starting to feel fear and many bank and governement use the drop to creat negative statements about cryptocurrencies particularly bitcoin. But all this negative statements were covered when the price of bitcoin soared up to 20k last december 2017. Just like what is happening now from the previous month's drop many got depressed  dissappointment even sold out their investment. But to those who stayed and were avid of bitcoin their profit was great. Right now the price increase to a pretty significant rise it shocks alot of people and aspirant investors because just like that bitcoin could shoot up any minute in just a snap of a finger..

[davis196]

increased like that in just 45minutes this is insanely good!  This is a positive movement and many negative speculators must rethink about their bad comments about bitcoin

Such a fast and rapid price growth can`t be a positive thing.This is another speculation bubble and the big whales are trying to manipulate the price by pumping it.I`m pretty sure that the whales were dumping the price over the past few weeks,when people(including me ) were talking that the price is down because of the FUD.This article author is partially right.The bitcoin hype amongst the newbies was over for a while,but it will return in the future.

[aardvark15]

It is funny that there are cryptospace deniers and cynics left who are becoming so blatant in trying to steer the conversation to bitcoin's hype is gone and therefore everyone should avoid it.

This article was published on almost the same time as when bitcoin started to pump and break $7000 with high volume. Coincidence?



J.C. Parets, a technical markets analyst in New York, remembers getting multiple phone calls a day about cryptocurrencies late last year. Clients, old high school friends, strangers and even his 88-year-old grandmother were intrigued.

“It wasn’t even like ‘should I buy crypto’ but instead it was ‘which one?’” he said. “Everyone was in on it.”

Four months later, those calls stopped coming.

“Nobody cares anymore,” Mr. Parets said.

To be sure, crypto die-hards are still passionate about digital currencies. But many first-time bitcoin buyers who came into the market in December and January are sitting on losses. Mainstream interest in the cryptocurrency market has diminished.

Regulators in the U.S., South Korea, and India are trying to curb speculative activity. Facebook Inc., Google Inc. and Twitter Inc. are banning advertising related to cryptocurrencies to stop scammers from promoting fraudulent schemes on these social-media platforms.

“All the hype is gone,” said Vijay Boyapati, a software engineer in Seattle who previously worked at Google and a food-delivery startup, and is nevertheless preparing to take a job in the cryptocurrency industry. “I think right now we’re in the boring phase.”

Read in full https://www.wsj.com/articles/bitcoins-hype-vanishes-just-like-that-were-in-the-boring-phase-1523534400

Those of us that have genuine interest in this new technology stay interested regardless of the price. For the casual investors, interest in Bitcoin comes in cycles. They want to jump in when the price rises to make some profit. Then they get shaken out when a correction or crash happens. That’s the way it’s going to be every few years.

[poodle63]

It's good then, the market will be healthy again once the Hype gone, you now right Hype won't hold much longer it's like easy come easy go and then everything will become normal again after the hype gone.
Just let the price of bitcoin increase organically and not getting pumped just merely because "everyone in on it" tbh, I'm all ready for all the efect could be caused by this and the obvious thing is that the price will decrease a lot.

[TravelMug]

Let's see how they are feeling right now. The price is slowly picking up and we are aggressively inching towards another bull run. But the more they feel like that, the more they look stupid specially when bitcoin is going the other way. I don't know if they will find it boring when bitcoin hits $10K at the end of this month and maybe $15K mid year.

[Kemarit]

Reading the article gives me a good chuckle to be honest. Even though the price has been struggling doesn't mean that the hype has died down or we are in somewhat in a boring phase. That's the main problem with people who really don't understand how crypto works, if everything doesn't goes on their favor, like not seeing the price increasing, they call it boring because they can't make enough money. But when the price is going up, like we are witnessing today, everyone is shouting that its going to the moon. LOL. I don't know what they gonna say with the current situation as it looks like the price in going on a break out and this might be a start of something big. Boring? I don't think so. 

[thecodebear]

Well yes it's the boring phase compared to when bitcoin breaks all time highs for months on end and so is constantly in the news about surging prices and tons of people are flooding in. The key word is phase. This phase will last maybe until the end of the year until Bitcoin breaks its ATH and then there will be lots of articles in the media about Bitcoin being back and how its ready to go much higher than ever before, at that point we are out of the boring phase. Boring of course here just means in terms of media perception. The actual development of Bitcoin this year during this boring phase will be very exciting with advancements coming to Bitcoin like LN and lots of major developments for building the bitcoin ecosystem like we've had the past few months with Robinhood and Square joining. Suddenly when Bitcoin gets a lot of media attention again maybe by the end of this year the technical development and market ecosystem surrounding Bitcoin will be much advanced from where it was at the start of the last boom a year ago.

[dothebeats]

Boring phase? Anything that doesn't get sensationalized by the media would be absolutely boring, same as to what's happening with bitcoin right now. The price isn't doing some crazy roller coaster so it's natural that the attention of the mass would be diverted into something more mildly interesting. Historically, after the price craze has died and the bull run has ended, people's attention would wane since it's not something out of the ordinary anymore. I'd say trend searches are nothing since even if that goes flat-lined, there's still true attention being poured @ bitcoin even without the media sensationalizing it.

[aoluain]

increased like that in just 45minutes this is insanely good!  This is a positive movement and many negative speculators must rethink about their bad comments about bitcoin

Such a fast and rapid price growth can`t be a positive thing.This is another speculation bubble and the big whales are trying to manipulate the price by pumping it.I`m pretty sure that the whales were dumping the price over the past few weeks,when people(including me ) were talking that the price is down because of the FUD.This article author is partially right.The bitcoin hype amongst the newbies was over for a while,but it will return in the future.

Yes i also think the hype will return when the bitcoin orice
srarts getting real traction and people getting in to make
their millions in a week.
History has a habit of repeating itself

[magneto]

When grandmas are asking you about investing in bitcoin, you know that the bull market was probably going to over very soon. A bear market is not boring. Long term holders will continue holding their BTC investments. Only the people who have no intentions of investing into bitcoin for the long run in the first place, and was just treating bitcoin as a quick way to earn money will consider this to be boring.

All the hype is gone, yes. But that's literally what a bear market is like, don't you think?

Also, when the hype is gone, it just means a huge buying opportunity. Most people who bought at the top are going to be selling now, and buying at a price less than half the ATH is just a smart thing to do. They're sort of making this seem like the death of bitcoin, but clearly, it's not. Mainstream interest is still growing, though much slower in this market.

[hase0278]

what the author is describing as "hype" is simply a surge of newbies who didn't understand what is what! obviously they are mostly gone since their dreams of becoming rich with bitcoin and even altcoins in less than a week was shattered when they faced the reality.
other than those newbies, everyone else is still pretty much in. nobody went anywhere, they are still trading bitcoin, the whales accumulating, millionaires buying silently (parking their money in bitcoin) and a lot more.

but none of it is the reason to call this a "boring phase" i think yesterday's big rise proved that to be true.

Also, yesterday's rise is what made adoption rate grow. Because of it, crypto space had more users now when compared to the users it got before the market made a bullish move. Even if some newbies quit Bitcoin, there are others left that are still using and hodling btc ATM. Instead of boring phase, shouldn't we all call this a part of "adoption phase"?

[vickybitcoin]

It is funny that there are cryptospace deniers and cynics left who are becoming so blatant in trying to steer the conversation to bitcoin's hype is gone and therefore everyone should avoid it.

This article was published on almost the same time as when bitcoin started to pump and break $7000 with high volume. Coincidence?

[Suspicious link removed]j.net/public/resources/images/B3-AA179_BITBOR_M_20180411123330.jpg[/img]

J.C. Parets, a technical markets analyst in New York, remembers getting multiple phone calls a day about cryptocurrencies late last year. Clients, old high school friends, strangers and even his 88-year-old grandmother were intrigued.

“It wasn’t even like ‘should I buy crypto’ but instead it was ‘which one?’” he said. “Everyone was in on it.”

Four months later, those calls stopped coming.

“Nobody cares anymore,” Mr. Parets said.

To be sure, crypto die-hards are still passionate about digital currencies. But many first-time bitcoin buyers who came into the market in December and January are sitting on losses. Mainstream interest in the cryptocurrency market has diminished.

Regulators in the U.S., South Korea, and India are trying to curb speculative activity. Facebook Inc., Google Inc. and Twitter Inc. are banning advertising related to cryptocurrencies to stop scammers from promoting fraudulent schemes on these social-media platforms.

“All the hype is gone,” said Vijay Boyapati, a software engineer in Seattle who previously worked at Google and a food-delivery startup, and is nevertheless preparing to take a job in the cryptocurrency industry. “I think right now we’re in the boring phase.”

Read in full [Suspicious link removed]j.com/articles/bitcoins-hype-vanishes-just-like-that-were-in-the-boring-phase-1523534400

Bitcoin by nature is very unpredictable or volatile  this means that is full of surprises and excitement on the contrary it does not mean that it is boring. I think you mean to say you are losing from your trades and unhappy with the results. With bitcoin every second counts, you either become very ancious or excited with the result but not boring at all!

[Pursuer]

this article is written for the newbies by a newbie!

only a newbie sees hype and jumps in, head first. and more importantly only a newbie thinks "hype" is gone just because price has been going down. the real hype is only starting with each drop as everyone buys more and more bitcoin to add to their pockets. it is actually a pretty exciting period in bitcoin history that you can see all the big buys from wise investors while a bunch of newbies run around and cry!

[liamnorthcoins]

It is funny that there are cryptospace deniers and cynics left who are becoming so blatant in trying to steer the conversation to bitcoin's hype is gone and therefore everyone should avoid it.

This article was published on almost the same time as when bitcoin started to pump and break $7000 with high volume. Coincidence?

https://si.wsj.net/public/resources/images/B3-AA179_BITBOR_M_20180411123330.jpg

J.C. Parets, a technical markets analyst in New York, remembers getting multiple phone calls a day about cryptocurrencies late last year. Clients, old high school friends, strangers and even his 88-year-old grandmother were intrigued.

“It wasn’t even like ‘should I buy crypto’ but instead it was ‘which one?’” he said. “Everyone was in on it.”

Four months later, those calls stopped coming.

“Nobody cares anymore,” Mr. Parets said.

To be sure, crypto die-hards are still passionate about digital currencies. But many first-time bitcoin buyers who came into the market in December and January are sitting on losses. Mainstream interest in the cryptocurrency market has diminished.

Regulators in the U.S., South Korea, and India are trying to curb speculative activity. Facebook Inc., Google Inc. and Twitter Inc. are banning advertising related to cryptocurrencies to stop scammers from promoting fraudulent schemes on these social-media platforms.

“All the hype is gone,” said Vijay Boyapati, a software engineer in Seattle who previously worked at Google and a food-delivery startup, and is nevertheless preparing to take a job in the cryptocurrency industry. “I think right now we’re in the boring phase.”

Read in full https://www.wsj.com/articles/bitcoins-hype-vanishes-just-like-that-were-in-the-boring-phase-1523534400

I think the article writer is a bitcoin detractor. Even if bitcoin surge he would not appreciate it and still would rant negatively about the positive and negative impacts of bitcoin all over again. This is plain and simple fiat/government sponsored article with the sole purpose of dragging down the the positive impacts of bitcoin all over the world. There is no sense in listening to the likes of this because this does not bring any good to the aspirant investor but to break their hopes and dreams. I suggest that when we read article we must be wise enough to compare and comprehend if it bias or balance. This article clear is bias.

[darewaller]

what the author is describing as "hype" is simply a surge of newbies who didn't understand what is what! obviously they are mostly gone since their dreams of becoming rich with bitcoin and even altcoins in less than a week was shattered when they faced the reality.
other than those newbies, everyone else is still pretty much in. nobody went anywhere, they are still trading bitcoin, the whales accumulating, millionaires buying silently (parking their money in bitcoin) and a lot more.

but none of it is the reason to call this a "boring phase" i think yesterday's big rise proved that to be true.

Yeah, newbies like his grandma who wanted to get rich overnight to at least have something to leave for his son as a legacy before she leaves the world. The thing is that there is going to be two different phases in the market and we have to get used to it.

The phase where everyone is getting greedy and the phase where only the real users who also perceive the main value of it for what it is are enjoying the moment of accumulation for the next stage of people getting greedy. Anyone who sees this phase as boring, that is their cup of tea. After all, vacation is always a good time to relax, so let's just assume bitcoin is on vacation.

[Whosdaddy]

I personally love the boring phase anyway. At least we have a lot of sanity for individuals who really believe in its usage than it just being a speculative asset which a lot of people are used to because of their greed of seeing the market just shooting up forever which they should have known this is not the case.

Still, if we get to see it just once in a while it is better, but due to the fact that everything always get messy, transactions increase all of a sudden, you get to pay a whole lot more for making a simple transaction all makes it crazy. Isn't the serenity just lovely as it is?