Bubble phases

[Bitsurprise]

You can see the bubble phases on the chart , we are currently at the public phase becareful and speculate/invest with caution don't cry or regret your own actions if it drops , yes the top may be much higher but this is a bubble period , whether you like it or not get real it was $13 at the beginning of the year , i am used to this i see this all the time at penny stocks : hype and mania in forums/boom/crash , yes BTC may succeed someday but not like this , now its a speculative security not a digital currency nothing wrong with that but don't be delusional and trade with caution .

http://www.thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg

[1714169805]

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[windjc]

You can see the bubble phases on the chart , we are currently at the public phase becareful and speculate/invest with caution don't cry or regret your own actions if it drops , yes the top may be much higher but this is a bubble period , whether you like it or not get real it was $13 at the beginning of the year , i am used to this i see this all the time at penny stocks : hype and mania in forums/boom/crash , yes BTC may succeed someday but not like this , now its a speculative security not a digital currency nothing wrong with that but don't be delusional and trade with caution .

http://www.thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg

So what you're saying is we have gone up a a lot this year? And also bitcoin is a penny stock. Is it listed?

[I_bitcoin]

That bubble phases chart makes me nuts and I just figured out why.

In most bubbles I can think of the resources were not bounded. 

• Tulips: Just grow more
• Housing: Just build more
• Stock Market: Just issue more

Feel free to add to my list.   Does this make sense? 

[ElectricMucus]

bitcoin is a penny stock. Is it listed?

yes
It's listed on secondmarket

[Edward50]

This reminds me of the 1st bubble in 2011. People are just going crazy right now. I have seen many posts and chatroom comments of people saying that bitcoin will be going to 1 million USD in a year.

At around that time we were in the first bubble was when I learned about bitcoin. I even got the same ideas about becoming rich etc. I was smart and knew it was way overpriced so I didn't buy. It eventually went from around $30 to $2.00.

Since it is very difficult to buy bitcoins if you are just coming into the market now, I can't see how new money is supporting the price. People are probably just riding it up and holding but as soon as the price starts to fall everybody will be cashing out hard. The price could then drop from like $800 to under $400 without anyone being able to sell their coins. I have seen these kinds of drops.

[ElectricMucus]

hahaha look who's here!

[Bitsurprise]

Notice the first sell-off on the chart , then the media attention , then the greed and delusion .. sound familiar ?

[windjc]

This reminds me of the 1st bubble in 2011. People are just going crazy right now. I have seen many posts and chatroom comments of people saying that bitcoin will be going to 1 million USD in a year.

At around that time we were in the first bubble was when I learned about bitcoin. I even got the same ideas about becoming rich etc. I was smart and knew it was way overpriced so I didn't buy. It eventually went from around $30 to $2.00.

Since it is very difficult to buy bitcoins if you are just coming into the market now, I can't see how new money is supporting the price. People are probably just riding it up and holding but as soon as the price starts to fall everybody will be cashing out hard. The price could then drop from like $800 to under $400 without anyone being able to sell their coins. I have seen these kinds of drops.

Did you buy at $2? I'm just trying to confirm the "I was smart" part of your post.

[Birdy]

At around that time we were in the first bubble was when I learned about bitcoin. I even got the same ideas about becoming rich etc. I was smart and knew it was way overpriced so I didn't buy. It eventually went from around $30 to $2.00.

How was it overpriced at $30 when it's $800+ right now?

[windjc]

Notice the first sell-off on the chart , then the media attention , then the greed and delusion .. sound familiar ?

Yeah it sounds like March. Just before the highest leg up.

[ElectricMucus]

That bubble phases chart makes me nuts and I just figured out why.

In most bubbles I can think of the resources were not bounded. 

• Tulips: Just grow more
• Housing: Just build more
• Stock Market: Just issue more

Feel free to add to my list.   Does this make sense? 

https://en.bitcoin.it/wiki/List_of_alternative_cryptocurrencies

[Bitsurprise]

http://www.thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg

[Edward50]

We are in the Return to Normal phase right now.

[I_bitcoin]

That bubble phases chart makes me nuts and I just figured out why.

In most bubbles I can think of the resources were not bounded. 

• Tulips: Just grow more
• Housing: Just build more
• Stock Market: Just issue more

Feel free to add to my list.   Does this make sense? 

https://en.bitcoin.it/wiki/List_of_alternative_cryptocurrencies

Lol, EXACTLY

[Miz4r]

We are in the Return to Normal phase right now.

I can't even count the times we've heard this, at least once a day I think in this forum.

[Sindelar1938]

Hope we bubble away for a bit longer

Best to be prepared for either scenario

[Birdy]

We are in the Return to Normal phase right now.

I can't even count the times we've heard this, at least once a day I think in this forum.

Same for the number of times the picture was posted.

[Edward50]

We are just passing the return to normal phase and heading towards fear.

Just read the recent new threads on speculation. People calling for a crash etc.

This is so much like the 2011 bubble which I was around for.

[superduh]

actually if you really think about it we are still at the take-off stage. i'll let you think more on that.

[anu]

You can see the bubble phases on the chart , we are currently at the public phase becareful and speculate/invest with caution don't cry or regret your own actions if it drops , yes the top may be much higher but this is a bubble period , whether you like it or not get real it was $13 at the beginning of the year , i am used to this i see this all the time at penny stocks : hype and mania in forums/boom/crash , yes BTC may succeed someday but not like this , now its a speculative security not a digital currency nothing wrong with that but don't be delusional and trade with caution .

http://www.thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg

Price will crash. Everyone in the press agrees that this is the end of Bitcoin. Bitcoin will hit bottom and rise again. Next bubble ($5000?). Rinse repeat.