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Author Topic: The Bitcoin Hype-Cycle  (Read 121 times)
_cryptofan
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November 06, 2018, 10:54:09 PM
Last edit: November 07, 2018, 10:14:14 PM by _cryptofan
 #1

"The peculiar thing about Bitcoin’s price is that it has these cycles. First, a slow and steady accumulation by people who understand the tech and buy it when it is ignored as worthless. This is usually after the price had just “crashed”. Then it starts to reach a point where the media picks up its growth. And then, a parabolic buying frenzy where even your grandma starts buying Bitcoins. Finally, after reaching a dramatic peak, it finally pops and drops, leaving only those who believe in the tech and support it even after a crash. Back to square one,with a bigger base price and a larger user base. Rinse, repeat."

It describes our current framework and each of us ... "Believers""

HODL!!

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November 07, 2018, 01:36:02 AM
 #2

Where can I view the entire article?
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November 07, 2018, 03:06:36 AM
 #3

while it has been accurate so far, it's not until now all this talking about regulations and so on has come into play, and the futures.

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November 07, 2018, 04:07:47 AM
 #4

This is just a small part of the article I have written about bitcoin, 
Show us fulll article. But describing bubble mechanism is correct sir.  It work just like that you described.
Easy is to "know this" but hard to actually use it and buy/sell in right moment.

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November 07, 2018, 04:13:52 AM
 #5

Where can I view the entire article?

Here you go: Don’t fall for the hype — Why Bitcoin’s $10,000 Price Doesn’t Reflect Its True Value

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November 07, 2018, 05:19:55 AM
 #6

Thanks for sharing the article! Its definitly true, but nothing special to BTC in my opinion. Such cycles tend to happen to a lot of common assets like gold, oil and even stocks like Apple and MSFT!

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November 07, 2018, 05:25:21 AM
 #7

It does not necessarily have to be a "Bitcoin Hype-Cycle", because that means that this system is manipulating prices by exploiting imaginary heights.
It's much bigger, and price volatility is one of the advantages of Bitcoin and not all.
What you talked about is a bad economic model of a currency "Shitcoin" and does not necessarily represent Bitcoin.

The price is relatively stable and growing to the upside, not a fluctuation between tops and bottoms.

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November 07, 2018, 05:59:17 AM
Merited by mu_enrico (1)
 #8

This is just a small part of the article I have written about bitcoin,  it describes our current framework and each of us ... "Believers""

So you're Miguel Cuneta? I certainly doubt that. Especially if you post something like this:

I am a Newbie here and I have read many articles and follow many Crypto-Related businessman and how their life changed big way after crypto. I believe many people in this forum also has experienced a life changing after investing.

Could you share your experience about what has changed in your life after start investing in order to motivate who is starting the journey ?
- I would also appreciate some tips. Smiley  


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November 07, 2018, 07:36:34 AM
 #9

The original article provided by @mjglqw is dated back to the second of December 2017, when BTC was just under 11K USD and before the real hype. It is therefore not in the current context and describes BTC as a helter-skelter, which is not its current behaviour and is therefore out of context (at least in the short run).

Besides, the extract looks like an obvious plagiarism, hidden behind a personality impersonation of a person who is Spanish or somewhat. No link to the original article is provided by the OP, so the conclusion is pretty clear here.

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November 07, 2018, 02:20:25 PM
 #10

The original article provided by @mjglqw is dated back to the second of December 2017, when BTC was just under 11K USD and before the real hype. It is therefore not in the current context and describes BTC as a helter-skelter, which is not its current behaviour and is therefore out of context (at least in the short run).

Besides, the extract looks like an obvious plagiarism, hidden behind a personality impersonation of a person who is Spanish or somewhat. No link to the original article is provided by the OP, so the conclusion is pretty clear here.


Hah.. nice catch!

To the basic point of the OP -    I do hope history repeats itself.  I can't help but think I missed out on the top and it will never get there or beyond again.   This prolonged bear market has sucked.   

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November 07, 2018, 06:23:24 PM
 #11

"The peculiar thing about Bitcoin’s price is that it has these cycles. First, a slow and steady accumulation by people who understand the tech and buy it when it is ignored as worthless. This is usually after the price had just “crashed”. Then it starts to reach a point where the media picks up its growth. And then, a parabolic buying frenzy where even your grandma starts buying Bitcoins. Finally, after reaching a dramatic peak, it finally pops and drops, leaving only those who believe in the tech and support it even after a crash. Back to square one,with a bigger base price and a larger user base. Rinse, repeat."

there are a lot of things wrong with this statement!
first of all this is not a "peculiar" thing at all. this is a normal trend that happens in anything that is similar to bitcoin. for instance take Apple (the company). at first there was slow rise where "smart money" was being invested in it without anybody knowing. then the rises began and when the peaks was reached and Apple was popular everyone else came.

but the biggest mistake in this statement is that it is confusing two different things: the short term rise and falls with the long term overall rise and adoption.
the "rise and repeat" that this is describing is a rise and fall of the market on the way to that top mass adopted stage. but it is using attributes that belongs to the mass adoption stage for example the bold part about "everyone starts buying bitcoin" which is clearly wrong.
you can see during 2017 we had a bubble but there was no "everyone, or grandmas" buying bitcoin. it was a temporary short term rise and fall which is ignored when you look at the big picture.

and now we are still on the same rising trend and in the early stages when people still don't even know about bitcoin and only the "wise money" is coming in. we have not even reached the "buying frenzy"... these big rises that happen are not because of "buying frenzy" or "media coverage" or "grandams" it is because the market is small and the exchanges have thin orderbooks.

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