Is the bitcoin going to burst anytime soon

[rhodelmabanal]

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 already last long it is first traded on year 2009-2010 and we are now at year 2021 and it is still alive, if we are going to look at the price now we can say that we are too late because if we buy it on 2009 and hold till this time we will maybe a billionaire today, No one can predict the price the people who has a big patience is always a winner on crypto see the past price and simply compair it with the present price and you will see how important patience is.

[ultrloa]

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 already last long it is first traded on year 2009-2010 and we are now at year 2021 and it is still alive, if we are going to look at the price now we can say that we are too late because if we buy it on 2009 and hold till this time we will maybe a billionaire today, No one can predict the price the people who has a big patience is always a winner on crypto see the past price and simply compair it with the present price and you will see how important patience is.

Well for that scenario maybe we can say that we are late knowing how huge the figures right now compare to that year 2009 but since bitcoin already a good crypto and became more reliable currency then maybe the word late right now is not applicable since we can still earn more from it as there are so many opportunity where we can earn especially on its volatility, That's why people should remember that they need to learn how to execute their TA's and know when to buy since most of the people get FOMO once they see bitcoin rising up and miss the opportunity to buy when bitcoin is at the dip.

Thinking about the past maybe not good since we cannot get those back although provably those people who bought became millionaire or even billionaire but the question here is does anyone from that timeline still hold their bitcoin up till today?.

[DOH!]

Bitcoin is moving sideways after creating ATH, sentiment corrections are creating stimulant.  I think we almost get rid of the price fomos like in the first quarter under the influence of Tesla and Elon Musk to recover and get rid of the big shadow of China.  I think it's enough to make people believe that it is better to put in bitcoin, unless the market makers make this cycle longer and more certain.  November is very promising to create a real “boom”!

I believe Taproot will be bigger than what was available with ETH 2.0.  Lol

[justdimin]

Most of the time when the btc make bull run at that moment it s it stays stable and move a little bit. The current situation seems to me the same. Seeing the signs of it, it seems to me that at some point it might not blast out due to bull run is ongoing .

Yeah, the overall trend must be too bullish and if you have noticed that bitcoin will trade within a range for a while just before a big bullish rally. Honestly I have never seen bitcoin trading too stable but have seen sideways. Right now, I am seeing bitcoin is getting ready for another round of rally which might take bitcoin into a new heights like $80 to $85k levels.

The current price shows that the bull market just begin. So I corroborate bitcoin will move towards high. 

Just begin? You mean after 50% downfall from April's ATH? I do see that correction as a part of bullish trend hence in my opinion that we are in middle of bullish rally. So, what OP is mentioning may not happen in near future.

[noormcs5]

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 already last long it is first traded on year 2009-2010 and we are now at year 2021 and it is still alive, if we are going to look at the price now we can say that we are too late because if we buy it on 2009 and hold till this time we will maybe a billionaire today, No one can predict the price the people who has a big patience is always a winner on crypto see the past price and simply compair it with the present price and you will see how important patience is.

In the long run, No, bitcoin will never burst but in the short term we can see 60 - 80% correction in a bear market. If anyone is investing in bitcoin for long term, he should know that this will not a straight move up. Many times if you follow the price closely, you will feel that this might be end of bitcoin, but you will always see that bitcoin recovers after every price retracement.

[Vaskiy]

As per the ongoing market situation the price could retest reaching close around $55000. The medium test zone looks to be around $57000 and the long term trend line support will be around $53000. Upon this market burst won't happen. More and more cryptocurrency adoption by leading companies makes positive move in the market. Maybe the downturn support testing could cause a FOMO.

[wxa7115]

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???

First of all you cannot let your financial future to be determined by something someone you know heard when other people were having a conversation, we must remember that just because someone has some credentials which say they know what they are talking about this is not necessarily true.

We must always judge what it is being said based on rational arguments and not on the authority or credentials behind the person, bitcoin will keep existing because what gives bitcoin value is not a bunch of gold stored on the middle of nowhere, which by the way fiat does not work like that either, but the fact that is a network which is not controlled by the governments and it is money that cannot be printed in a whim, unlike fiat, so even if we do not have the credentials those people have, we are right because the sound arguments are on our side, so stop caring about what people say about bitcoin if it is not grounded on the reality of the situation.

[BuNga_cute]

~

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It is true that there is no 100% guarantee that the price of Bitcoin will not crash, but at least looking at the current situation and conditions that
more and more parties support Bitcoin. That is what gives rise to the belief that Bitcoin will not crash once it reaches new ATH, even Elon Musk
seems to be starting to support Bitcoin to go up to $69k. And I believe more and more rich people are starting to be interested in investing
in Bitcoin, after this year Bitcoin managed to reach new ATH twice. At least positive thinking makes me more excited to continue collecting Bitcoin,
even though I know the risk is very big. Because I had already prepared a plan in case the worst happened.

The adoption is indeed different and increasing as day goes by.
And along with known personalities hyping this up, it will further boost its price.
If more and more countries will show their support to crypto, there's no doubt, we will see the price going up high.
But don't estimate too much, just be conservative so you will not be disappointed if the situation you are expecting is not happening.
And the likelihood that it will surpass the recently ATH price is really possible. Maybe next months to come.

Although the price of Bitcoin has started to drop its current price to $58k, which might make some people panic. I still believe Bitcoin will rise again
and there is even a possibility of creating the next new ATH. Because, as I said, seeing Bitcoin's support increase this year, I have no doubts about
the future of Bitcoin. So I took advantage of the current Bitcoin price drop to buy more Bitcoin, because actually Bitcoin could go up in price much
higher, but correction is needed. This may only be understood by people who already understand how Bitcoin works. So why do I also always keep
saying that first study Bitcoin properly, before deciding to invest in Bitcoin. That is so that we can take the right decisions and not panic when we see
the very volatile movement of Bitcoin.

[Dave1]

As per the ongoing market situation the price could retest reaching close around $55000. The medium test zone looks to be around $57000 and the long term trend line support will be around $53000. Upon this market burst won't happen. More and more cryptocurrency adoption by leading companies makes positive move in the market. Maybe the downturn support testing could cause a FOMO.

We are now in the $58k zone, and so we might test another lows before the end of this month. Nevertheless, the market looks still bullish long term or at least the remaining 2 months. It is because of the anticipated run to $100k. So in the next 2 months we have x2 growth then we might be as well into that 6 digits and maybe we can see another FOMO run starting next month as we are also waiting for Taproot, which is the propose "upgrade".

[Fundamentals Of]

As per the ongoing market situation the price could retest reaching close around $55000. The medium test zone looks to be around $57000 and the long term trend line support will be around $53000. Upon this market burst won't happen. More and more cryptocurrency adoption by leading companies makes positive move in the market. Maybe the downturn support testing could cause a FOMO.

We are now in the $58k zone, and so we might test another lows before the end of this month. Nevertheless, the market looks still bullish long term or at least the remaining 2 months. It is because of the anticipated run to $100k. So in the next 2 months we have x2 growth then we might be as well into that 6 digits and maybe we can see another FOMO run starting next month as we are also waiting for Taproot, which is the propose "upgrade".

$58,000 looks to be a solid support. The price has been trying to fall down below that since yesterday and yet it seems it is strong enough to prevent that. So I guess $58,000 is already the bottom. I think this is just one of those ordinary corrections in a bull season. There will be a rebound in the next few hours.

The Taproot activation is scheduled in block 709,632. That would be around middle of November. I think that is not enough to cause a FOMO. I even think that by then the price of Bitcoin is already above $70,000.

[Pejoh Asu]

We are already in november and usually in december bitcoin will explode at least 2x from the current month, maybe this is an exaggeration but i am optimistic when i see the number of global companies and world millionaires who invest in bitcoin so bitcoin can explode at any time.

[bengsabeng]

I don't agree with this statement. I think the price of bitcoin continues to grow because bitcoin enthusiasts are growing and are also supported by a limited number of bitcoin supplies. I do not understand what is meant by bitcoin will not last long in this thread because until now bitcoin and cryptocurrencies continue to grow. I often come across this kind of FUD and I think this is a natural thing to happen in the crypto world.

[Finestream]

I don't agree with this statement. I think the price of bitcoin continues to grow because bitcoin enthusiasts are growing and are also supported by a limited number of bitcoin supplies. I do not understand what is meant by bitcoin will not last long in this thread because until now bitcoin and cryptocurrencies continue to grow. I often come across this kind of FUD and I think this is a natural thing to happen in the crypto world.

OP, if you have done your research on bitcoin, then you don't have to be affected like that. People with no knowledge about bitcoin will certainly say things that are not true and we should not take it seriously as we are knowledgeable than them. And saying that bitcoin is a bubble, its definitely not. Bitcoin has been here for past a decade and if its  a bubble from the start, it would have been burst out when it was still starting. So never gets affected with any FUD that will only make you confused on bitcoin. As long as you know the truth, then continue trusting bitcoin more than anyone else.

[ShowOff]

OP, if you have done your research on bitcoin, then you don't have to be affected like that. People with no knowledge about bitcoin will certainly say things that are not true and we should not take it seriously as we are knowledgeable than them. And saying that bitcoin is a bubble, its definitely not. Bitcoin has been here for past a decade and if its  a bubble from the start, it would have been burst out when it was still starting. So never gets affected with any FUD that will only make you confused on bitcoin. As long as you know the truth, then continue trusting bitcoin more than anyone else.

First the post you quoted is not the OP's post so I don't think your response is relevant enough to what the OP actually meant.

So far we all know that bank and bitcoin have sentiment that are evident from their comment about bitcoin, so I firmly believe that no banker will support bitcoin as a legal currency used by their community around the world. So when a banker make an analysis of bitcoin whether it's about his future potential then it is very clearly seen as a campaign of resistance between the two because basically bitcoin transaction do not require special authorities like banks. They won't support it, so they seem to really hate it.

[Ngewex Yuk]

I'm sure the market will explode in the near future, today the price has gone up more than 2% and the price is approaching $63k, I'm sure in November the price will reach new ATH at the level of $75k, and this is preparation to see the price explode again in december which will reach at least $100k.

[michellee]

I'm sure the market will explode in the near future, today the price has gone up more than 2% and the price is approaching $63k, I'm sure in November the price will reach new ATH at the level of $75k, and this is preparation to see the price explode again in december which will reach at least $100k.

But we still do not have the right prediction of when the price will increase shortly. We are now in November but the price still does not show good movement and it is up and down many times. If in this middle of the month the price can increase and back to $65k, maybe that can give a chance to bitcoin to still increase and maybe that can surpass the next ATH. So we need to have more patience to wait for the right time for bitcoin increases.

[Quidat]

I'm sure the market will explode in the near future, today the price has gone up more than 2% and the price is approaching $63k, I'm sure in November the price will reach new ATH at the level of $75k, and this is preparation to see the price explode again in december which will reach at least $100k.

Explode in the sense that there would be correction but doesnt mean that there would be some crash just like on what happened in the past.
Now that we are having that high recognition then we might really be seeing a strong market which dont really crash that easily.
Bursting is something  that plausible back in the past but we arent not the same anymore as of this moment.
Correction is inevitable but doesnt mean that we would go to the bottom.

[peter0425]

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???

How long have you been here in crypto? yet listening to banking world?

Tell your wife never ever try to take serious words from banks because there are in chase to bring cryptocurrency down and in their desperation nothing that will comes from their mouth but to put down the cryptos.

Bitcoin is just starting and you will see the benefits once this reached half of the worlds population and that adoption will change the world forever.

[Yaunfitda]

As per the ongoing market situation the price could retest reaching close around $55000. The medium test zone looks to be around $57000 and the long term trend line support will be around $53000. Upon this market burst won't happen. More and more cryptocurrency adoption by leading companies makes positive move in the market. Maybe the downturn support testing could cause a FOMO.

We are now in the $58k zone, and so we might test another lows before the end of this month. Nevertheless, the market looks still bullish long term or at least the remaining 2 months. It is because of the anticipated run to $100k. So in the next 2 months we have x2 growth then we might be as well into that 6 digits and maybe we can see another FOMO run starting next month as we are also waiting for Taproot, which is the propose "upgrade".

$58,000 looks to be a solid support. The price has been trying to fall down below that since yesterday and yet it seems it is strong enough to prevent that. So I guess $58,000 is already the bottom. I think this is just one of those ordinary corrections in a bull season. There will be a rebound in the next few hours.

The Taproot activation is scheduled in block 709,632. That would be around middle of November. I think that is not enough to cause a FOMO. I even think that by then the price of Bitcoin is already above $70,000.

Ok good so it's about the second of the week this month. For sure as we approaches the Taproot activation, we will see a massive spike on the price. Maybe we can see $70k and then will FOMO up to $80k or even more.

So there's no time yet for bitcoin to burst the bubble. Everyone is expected a good price right around December which is at least 6 digits figure. And that's what we all have been waiting for, and then continue it's run to the first quarter of 2022.

[buwaytress]

Tell your wife never ever try to take serious words from banks because there are in chase to bring cryptocurrency down and in their desperation nothing that will comes from their mouth but to put down the cryptos.

Much as I don't think highly of banking and bankers, or anyone in that line of work in general, I'm not sure I'd be telling people to chuck their advice away in favour of 99% of crypto experts, influencers, all due to respect to you guys here of course. I think the forum's got good heads, more than anywhere I've been... but even together they're a painfully tiny minority who won't be seen or heard in the ocean of shockingly misinformed loudies everywhere else online.