Is the bitcoin going to burst anytime soon

[platinumsteel2016]

My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???

[Natalim]

Don't listen to the banker, they are no expert in the field of crypto.

This market has very high volatility, bitcoin could dump anytime due to correction but it's not a bubble that will not recover.
Just look at the price history of bitcoin, many times it looks almost dead already but it almost bounces back when people starting to lose hope.

Remember, only a bubble would burst, bitcoin is not a bubble.

[aoluain]

Well first of all you can take anything any "Bank" rep says about Bitcoin with a pinch of salt.

He is a bit behind in his criticism, The "not backed by anything" is a very old argument
which we have heard for years.

The general consensus is we are continuing with the Bear market and this last quarter of the
year will see an increase in Bitcoins value.

If somehow there could be a discontinuance of the bitcoin

there wont be.

[Lanatsa]

^
Believe on what he had said above that those banksters doesn't know everything about bitcoin and would just simply make out some sentiments which are totally non-sense.

Bitcoin is indeed not a bubble and there's no such thing about bursting or something like that.We are already too big in terms of community support and recognition which

it is just bullshit that other people would be saying up on things which they don't really have any idea on what it is.

[Slow death]

My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???

Bitcoin is at a high level of adoption, today there is even talk of a possible ETF approval, paypal accepts bitcoin, there are many millionaires who are buying bitcoin, the cryptocurrency market is growing at a great pace. so don't worry because bitcoin won't disappear

^
Believe on what he had said above that those banksters doesn't know everything about bitcoin and would just simply make out some sentiments which are totally non-sense.

some bankers speak ill of bitcoin because they either don't know about bitcoin or because they can't speak good bitcoin for fear of government reprisals where they live.

[Silberman]

My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???

That does not even count as an analysis at all, look thanks to the Internet now everyone believes their opinion is worth gold when this is not the case, your opinion matters depending on what arguments you have behind it, many times in the past the argument that there is nothing behind bitcoin has been used to show why it will not exist for long, however if we are fair while using that argument then we could say the same about fiat currencies and yet they still exist, right? Besides bitcoin does not derive its value from it but from the Metcalfe’s law.

[24Kt]

You’re talking about the banker here who are afraid to lose his job because of Bitcoin and this is just a FUD but it wont work because Bitcoin will not die even if they criticize it, just keep on buying and you will not regret it.

Imaging the huge investors into Bitcoin, even a country already legalize Bitcoin so who is Chase bank to tell that Bitcoin will die soon? I wont listed to that and will not panic at all. I’ll keep holding onto my Bitcoin until we reach a new peak.

First, they are not in position to say something like that to bitcoin market. If you are a long time crypto user, what the banker said is meaningless. How can he tell the lifespan of bitcoin? Even with the FUD coming from China, it doesn't deter how the market performs these days. So I don't know the motive of the banker, maybe to discourage their customers not to get into crypto, because it is the supply and demand concept why btc has value, even if no tangible asset is backing it.

[GreatArkansas]

Overall, for me, that banker is just sharing his/her vision or opinion with Bitcoin, so we must respect it.
Because for me, Bitcoin and bank are kinda "enemy" or they are opposite because Bitcoin solving the traditional banking problems. So for sure, they somehow hate it. And I do believe that there are a lot of them out there who got the same opinion.

[btc_angela]

Lol, your source is a banker?

In any case, I don't think we are in the bubble, we haven't reach that 6 digits yet. But maybe when we are in the $100k or more, just maybe we might see the bubble being burst again. In any case though, lets see how far this bull run goes. Prediction are pointing to at least $135,000, so still we have two months to move the price and see how it goes early next year.

[doomloop]

I would say that correction period had happened and looking at the price right now it is not really going any further down. That is a great deal for us, because in the end if the price is "going up" that means price should be going back to ATH soon. If it was a bear movement that would have caused bitcoin to go down more and more but it didn't happened which means it was a correction.

After all we have reached from 28 to 30k levels to as much as 58k right now and that is way too much of a money to continue to grow without any stops at all. Remember we have had a few corrections along the way as well, not like this is the first time we dropped a bit, but we have managed to grow bigger after each one so I assume the same thing will happen to price once again very soon.

[Baofeng]

Typical banker argument against bitcoin. But we have heard this kind of argument before, specially after the burst in 2018, but look at the current price, it goes x3 of the last all time high. Maybe he is right, it might burst anytime soon, but bitcoin has the resiliency to come back and recover.

So it's just a matter of timing, it's not like the tulip bubble wherein it didn't recover after it was burst. And that's why I don't find the analogy between bitcoin bubble and the tulip mania so convincing because it's a different scenario.

[bittraffic]

All cryptocurrencies will also be going below their ICO price if BTC will stop. It's amazing how a banker pops up such fud and then spreads it by word of mouth to customers. Of course, customers who know nothing will also believe it. They got to say what they need to prevent customers from going to crypto.

It would be funny to see the face of the banker when one day he meets someone in his office who counters what he is saying while the price is more than $100k.

[sheenshane]

Don't listen to the bankers, they have zero knowledge on how to work Bitcoin and what is the concept on it.  There's no way to discontinue, everything where depends on the people that adopting Bitcoin.  Due to the fixed supply Bitcoin have a price and it will continue to increase when there is a massive adoption and now, how come Bitcoin will NOT last long.

In fact, bankers are always afraid that Bitcoin is their biggest threat, it might destroy their banking finance system if everyone were putting their money in crypto as an investment and not on the bank.  I don't think Bitcoin will burst soon, it's not going to happen either, they are just a noob in the crypto field and they are throwing shit due to their ignorance of the system.

If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???

Bitcoin is far different from other cryptocurrencies, the real decentralized is Bitcoin.

[Fundamentals Of]

You don't ask how to become a good person from a notorious criminal. In the same way that you don't ask an opinion of the future of Bitcoin from a bank representative. What do you expect to hear if you ask a Pepsi sales representative of his opinion about the taste of Coca-cola? You get what I mean?

But if Bitcoin is to fall, I guess the entire crypto is to fall. It may come back of course but it will take time, or something else will take over.

[adaseb]

Generally those aren’t real bankers. They are only tellers. I don’t think you need much experience in the financial field to be a bank teller. You don’t know anything about the financial markets. I think that it’s against policy somewhere to give financial advice when you are not a financial analyst.

Someone can take their advice “short Bitcoin because bank teller said it’ll go to $0” and instead it goes to $200K and a law suit starts since they took their advice.

[Wexnident]

My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???

Not that I'm saying you should trust the banker, but why would you even trust us considering you also didn't trust the banker? Both parties are basically strangers to you so why bother asking really. Honestly I'd rather just do my own study about it instead of asking someone else. There will always be only one thing that would support the market's pump or dump, and it's simply supply and demand. You saying there's "nothing" backing it is like saying people who own it are nonexistent.

Really, I'd honestly suggest doing your own study first before even being confused since it seems like you got them mixed up.

[pooya87]

My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.

About 4 years ago another bankster called bitcoin "fraud" and said it will die soon. Later it turned out that the same corrupt bank was buying bitcoin, the bank was called JP.Morgan.

I guess that as a result of the increase and nothing backing and/or supporting it.

Things don't have value because something or backing or supporting them. Things have a value because of their utility.
For example nobody is supporting a potato but it has a value, it can be fried into chips and consumed as food. As long as it has that utility it has a value which is decided by its supply and demand.

[Yaunfitda]

Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.

Isn't it contradictory? The argument is that nothing is backing it up, and yet the price continue to grow in the last 10 years? You just have to use your common sense with that argument. It's decentralisation is enough to say that there are a lot of people backing it up.

That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,

Bitcoin is already too big to fall at this point. And now matter what kind of FUD that is around, bitcoin will continue in the next 10 years.

[Lucius]

My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.

If you keep listening to the bankers, I'm sure you'll lose what little money you have - instead of at least having a chance to be as financially independent as possible and protect yourself from inflation. Bankers just want to protect their business and make money on fees for transferring money, on fees for having a bank account, on fees for internet banking, on fees for SMS notifications, and who knows what else comes to their mind.

I don’t want to get into whether it’s ignorance or just trying to get people to give up investing in Bitcoin, but some bank clerk and his opinion are pretty irrelevant compared to what some country bank governors say. Their hope is that all this will one day fail, and they will then proudly take pictures and pose on TV in the style of "we told you it would happen", but as time goes on they all look more and more stupid - because no matter what they keep saying the same things, they start to look like parrots who keep repeating some words, but of course they don't understand what they are actually saying.

Cryptocurrencies “have no intrinsic value” and people who invest in them should be prepared to lose all their money, Bank of England Governor Andrew Bailey said. “I’m going to say this very bluntly again,” he added. “Buy them only if you’re prepared to lose all your money.”

[michellee]

Do you prefer to listen to them or do your own research so you know the truth? People who do not like bitcoin will do many things to influence others and tell them to stay away from crypto. If you know what bitcoin is and how bitcoin can benefit you, you will leave them with their opinions and not listen to them. You will see later if bitcoin is dead so soon or bitcoin will have a longer time and will grow and popular in the future. Those people will regret not investing in bitcoin while they can have time to do that.