"Is the bubble about to burst?"

[terrorJR]

The situation is certainly not ideal for us who follow what is happening in crypto. I am sure a lot of new small investors dont have any idea, how fast can things go south especially because way too much money goes to meme shitcoins and NTFs. For me, NTFs could be the new MtGox, there is just now way all that much content will keep the value in the future.

Something like this could happen. If you see now there is a lot of manipulation going on in NFT and a lot of them are on the scam track. indeed this is not all but most now NFT is like that.
This can't be blamed because they've been too hype in recent months, especially in the last 2 months.
I think this is very vulnerable if NFT continues like this

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[eaLiTy]

I don't take this to be totally true, if the crypto in question is Bitcoin, then it could be correct as Bitcoin is a long term project that's sustainable and has an actual use case, thus it could undergo correction periods and plunges, but it would eventually rise back up again, that's cause the demand will continue to rise and grow, with the influx of institutional investors, prominent individuals and the rest, Bitcoin is surely going to be around for the long term.

The sole reason i am expecting a correction which can be a big one is simply because of the presence of huge institutional investors. They started accumulating the coins knowing about halving for over an year and it is impossible to predict when they will be booking their profit and considering they are having billions worth of BTCitcoin, it could have an impact on the market once they start booking their profit.

But having said that, I can't think the same of "every crypto", there are many pump and dump coins, lottery coins, useless/scam coins, etc, many of them are going to pump and then dump and never rise again, some others will just be pumped to scam people, and afterwards they'll dump forever, that's the situation with crypto, I believe only Bitcoin and a few other coins (like ethereum) can be trusted not to just dump outrightly.

During the last correction, the price of ETH dumped from above $1000 to below $100. So expect something similar.

[DarkDays]

Honestly, I don't think we're near the end of the bull run. We haven't experienced a short term parabolic run yet, which usually precedes the end of the run, as was seen in 2017 and before in 2013/14.

Until we see Bitcoin's dominance drop to the low 30s or high 20s in terms of %, we're not approaching the end. That said, dominance is dropping slowly and we could be on the cusp of that run.

I give us several months of growth until we get rekt.

[South Park]

I try to take the time to read what the article has to say. After reading it I came to the conclusion that the statement not only appeared to provoke us, it was also one of the bad things about how he said the financial system in Bitcoin was not real.

He is too self-confident to forget how much Bitcoin has contributed during this pandemic, we or the people who are concerned about the digital era are starting to follow what Satoshi gave 13 years ago. I was quite angry, because he only said the bad side because the existence of Bitcoin had exposed the rottenness of the financial system in the bank.

If Bitcoin and cryptocurrencies are considered bad for fiat financial stability, then why are there so many geniuses who can't solve the economic system that requires only rich people to stand on top of the Pyramids? While our existence as people never had any influence in the financial world, finally we were able to make many changes little by little and did not depend on state finances. We appreciate the truth based on the agreed position that Bitcoin offers us the right choice.

But what can we expect from people like that? It is obvious that those that are at the top of the current system will not like what bitcoin brings to the table as they see that they will not have full control of the system if something like bitcoin ends up imposing itself, so they are using the media to try to subvert bitcoin and point a negative light to bitcoin when in fact bitcoin has been a very positive influence during the pandemic, and bitcoin will keep doing exactly that, because if at some point the economy goes through even more troubles than the ones they are facing now, bitcoin will be there to help people out and give them a store of value just when they need it the most.

[LittleBitFunny]

Honestly, I don't think we're near the end of the bull run. We haven't experienced a short term parabolic run yet, which usually precedes the end of the run, as was seen in 2017 and before in 2013/14.

Until we see Bitcoin's dominance drop to the low 30s or high 20s in terms of %, we're not approaching the end. That said, dominance is dropping slowly and we could be on the cusp of that run.

I give us several months of growth until we get rekt.

In fact, the current Bull Run cannot be compared with the bull run of 2017. you know, institutional phase investment was very fewer in 2017, now it is surpassed our imagination. at that time Bitcoin was viewed negatively. Currently, the whole world is very positive about Bitcoin. Bitcoin has created several new ATHs throughout the year, indicating how strong the market conditions are now. If we will not see any short-term parabolic movement, but I think it is very possible to break $90k by 1 green candle of weekly MACD.

[naira]

Even if you will distribute all global weath equally I bet that in about 1 year 90% of people will have a worse standard of living than before the distribution of wealth from the rich and 10% will be driving lambos. Mostly because people do not know how to save money, they have no idea about the economy, about investing, about simple math.

That's why Bitcoin was created to be very complex and answer all the shortcomings that exist in the financial economy resources of the future. The answer to this shows that every ebb and flow of policy changes in order to emphasize the economy to tax stakeholders more than the elite who regulates the taxation of profits by avoiding it.

But what can we expect from people like that? It is obvious that those that are at the top of the current system will not like what bitcoin brings to the table as they see that they will not have full control of the system if something like bitcoin ends up imposing itself, so they are using the media to try to subvert bitcoin and point a negative light to bitcoin when in fact bitcoin has been a very positive influence during the pandemic, and bitcoin will keep doing exactly that, because if at some point the economy goes through even more troubles than the ones they are facing now, bitcoin will be there to help people out and give them a store of value just when they need it the most.

Then if so there will be the implementation of an equality recognized by some political beliefs as intended to make many contributions to the existence of Bitcoin.
The store of value should be narrowed down to the security of Bitcoin storage. Regarding the mainstream media who constantly carry out propaganda in order to cover up the existence of high-ranking officials who often avoid the public for the responsibility that has been done during inflation.

[goldkingcoiner]

"Is the bubble about to burst?" - This has been a common narrative used by crypto haters ever since Bitcoin reach its first peak and MT Gox drawdown. Unfortunately, it seems this same narrative is spreading like a disease that is trying to shake the crypto foundations by turning crypto supporters against each other.

Today, I've received the Medium Daily Digest and an article caught my attention: We’re About to Witness the Great Cryptocurrency Reset. It is a well-written article and I may say the guy makes some points over there. He starts by criticising how the original idea proposed by Satoshi has been overturned, how the crypto space is controlled by a bunch to finish off saying how bad actors are now turning it into what it was intended to fight against.

Would be great to hear some thoughts.

Ah yes. The bursting of the "bubble". You realise its just a FUD meme that has been proven wrong time and time again? Bitcoin is NOT a bubble nor will it ever be one. Yes, there will be corrections and dips and sometimes, due to compounding bad news, we might even see a downward slope which seems to last forever. But Bitcoin is a deflationary currency which will always overtake it's last ATH.

In Bitcoin we trust.

[dezoel]

So I just read the article that you posted the link to, and from my understanding there isn’t really anything bad about what the author was saying. He’s just someone that is not happy about how things has been going in the cryptocurrency ecosystem.

Moreover he did make a few points which I am in support of him, and also there are some that I wouldn’t really be in support. Like when he said that people believes that cryptocurrency is the solution to all their problems, and that they are wrong for believing such, I think he’s right about that. It’s high time that a lot of people start understanding what Bitcoin is all about, and stop thinking that just because it favored a few people, that it is also going to favor all of them and be a source of getting rich quick.

If you want to get money, then you have to work for it, and it's good that there are so many opportunities that are being provided in the cryptocurrency community. Then he made mention of how the Elites has been taking over the cryptocurrency community and taken advantage of everything, and they are now the ones who are making money out of it.

It's quite a long article, but he did made some points. There are really a lot of things that needs to be fixed, and I would recommend everyone to read that article. Just like when he made mention that most people are not even making use of the blockchain direct, rather they prefer to make use of exchanges such as Coinbase and binance.com, while cryptocurrency was created for us to make use of direct, and not rely on all these exchanges who are using us and taking control over our assets. Like they say, not your keys, then it’s not your assets.

[Shasha80]

"Is the bubble about to burst?" - This has been a common narrative used by crypto haters ever since Bitcoin reach its first peak and MT Gox drawdown. Unfortunately, it seems this same narrative is spreading like a disease that is trying to shake the crypto foundations by turning crypto supporters against each other.

Today, I've received the Medium Daily Digest and an article caught my attention: We’re About to Witness the Great Cryptocurrency Reset. It is a well-written article and I may say the guy makes some points over there. He starts by criticising how the original idea proposed by Satoshi has been overturned, how the crypto space is controlled by a bunch to finish off saying how bad actors are now turning it into what it was intended to fight against.

Would be great to hear some thoughts.

Ah yes. The bursting of the "bubble". You realise its just a FUD meme that has been proven wrong time and time again? Bitcoin is NOT a bubble nor will it ever be one. Yes, there will be corrections and dips and sometimes, due to compounding bad news, we might even see a downward slope which seems to last forever. But Bitcoin is a deflationary currency which will always overtake it's last ATH.

In Bitcoin we trust.

Bitcoin haters will continue to spread FUD saying Bitcoin is a bubble, but many times Bitcoin can prove itself can always overtake the last ATH.
So for people who study Bitcoin properly and have already felt the benefits of Bitcoin, assume the current price decline is not due to the bursting of
the bubble, this is only a temporary correction. I've been in the crypto world for about 5 years, so I really understand how Bitcoin works.
I strongly believe in the future of Bitcoin, so no matter how many FUDs there are, won't make me panic and change my mind about Bitcoin.
I am still optimistic that the price of Bitcoin will rise again in the near future, then I never hesitate to hold Bitcoin until the target I want is achieved.

[DaveF]

Could be. We can't know for sure. Last year it did and then it recovered again. Bubble pop don't necessarily mean it is not going to recover again. Amazon did pop in early 2000's and then it recovered and became bigger and stronger than ever. Sure lots of other tech companies didn't recover and vanished during the dotcom era but who cares? Most of them were shitty companies anyway. Look at pets.com. Who in the right mind would invest in that shit? Yet, lots of people did and lost money. I say they deserved it.

The talking sock puppet is shocked at your disrespect of pets.com




But anyway, there were many that were not 'shitty companies' but got crushed along with the rest of them, not because they were bad but because the financing dried up all at once for good and bad.

Which brings me to the point that there is no financing for BTC. It's all people like us, so even if the bubble bursts and BTC drops 80% again so what. WE use it and we will keep using it, and the price will come back. Big banks and finance companies will not matter. Small individual people will matter. That's what BTC was built for, people. And what we want to do with it.

But having a talking puppet as a mascot would still be cool :-)

-Dave

[taufik123]

Ah yes. The bursting of the "bubble". You realise its just a FUD meme that has been proven wrong time and time again? Bitcoin is NOT a bubble nor will it ever be one. Yes, there will be corrections and dips and sometimes, due to compounding bad news, we might even see a downward slope which seems to last forever. But Bitcoin is a deflationary currency which will always overtake it's last ATH.

In Bitcoin we trust.

The decline or correction will surely come to an end, because the market is currently in a state of consolidation. Those who say that the bitcoin bubble has burst would expect bitcoin to drop and buy at the lowest price. Many FUDs are scattered saying bitcoin is over, but in fact bitcoin is still correcting and looking for a bounce to fly to new ATH prices again.

[Sled]

Ah yes. The bursting of the "bubble". You realise its just a FUD meme that has been proven wrong time and time again? Bitcoin is NOT a bubble nor will it ever be one. Yes, there will be corrections and dips and sometimes, due to compounding bad news, we might even see a downward slope which seems to last forever. But Bitcoin is a deflationary currency which will always overtake it's last ATH.

In Bitcoin we trust.

The decline or correction will surely come to an end, because the market is currently in a state of consolidation. Those who say that the bitcoin bubble has burst would expect bitcoin to drop and buy at the lowest price. Many FUDs are scattered saying bitcoin is over, but in fact bitcoin is still correcting and looking for a bounce to fly to new ATH prices again.

And I believe so. We could definitely think about the "bubble will burst" and also we could think that " the correction will end". It can never be all the time bearish nor it all be bullish, we have to think about how the volatility affects the market and make changes on the trend. Perhaps, this has been happening several times and I guess, we are about to learn it or we are already that.

FUDs? They killed positive mindset before but not now. People are becoming skeptical about that especially when there is no basis.

[Vaculin]

Ah yes. The bursting of the "bubble". You realise its just a FUD meme that has been proven wrong time and time again? Bitcoin is NOT a bubble nor will it ever be one. Yes, there will be corrections and dips and sometimes, due to compounding bad news, we might even see a downward slope which seems to last forever. But Bitcoin is a deflationary currency which will always overtake it's last ATH.

In Bitcoin we trust.

The decline or correction will surely come to an end, because the market is currently in a state of consolidation. Those who say that the bitcoin bubble has burst would expect bitcoin to drop and buy at the lowest price. Many FUDs are scattered saying bitcoin is over, but in fact bitcoin is still correcting and looking for a bounce to fly to new ATH prices again.

And I believe so. We could definitely think about the "bubble will burst" and also we could think that " the correction will end". It can never be all the time bearish nor it all be bullish, we have to think about how the volatility affects the market and make changes on the trend. Perhaps, this has been happening several times and I guess, we are about to learn it or we are already that.

FUDs? They killed positive mindset before but not now. People are becoming skeptical about that especially when there is no basis.

People have become more smart overtime. And believing that bitcoin is a bubble, of course not. It would have not survived in a decade if everything that's happening to bitcoin have no basis, so clearly bitcoin is not a bubble.

However, going back to the article, i might say that the author itself is anti bitcoin and this is the reason why he wants this article to be widespread so it can be a wake up call for everyone who believes in bitcoin. But not for now, because as time goes by, investors have become more wise and more brilliant when it comes to bitcoin investment.

[yazher]

Well, they just sugar-coated their title and their introduction by means of convincing the other that they are worried about what is about to happen if it's gonna blow in the future. But these guys are clearly suggesting their hostility towards bitcoins themselves. Looks like they posted such an article just to spread negativity about the current situation of the market. But if you were in this industry, you won't really care about what they said because it has been proven that nothing like that will happen and only fools will believe them cause they only speaking out of mere speculations where the fact is right in front of our eyes right now.

[davis196]

I wouldn't waste my time reading an article that repeats everything that BTC haters and FUDsters have been saying about Bitcoin during the last 10 years.
1.Bitcoin is a bubble?Yes,the Bitcoin market can form price bubbles.Every financial market is forming price bubbles.Is there something wrong with that?
2.The "crypto whales"/"crypto elite" is a bunch of greedy scammers.
Well,some of them can be called scammers,some of them are actually legit.Bitcoin cannot be called a scam only because scammers are using it.Being greedy is still not considered a crime.
3.Bitcoin is an investment/speculation tool rather than a real currency.
This is partially true and there's nothing we can do about it.

[franky1]

'tulip bubble'
hundreds of years later.. people can still go to a garden store and buy tulips

a bubble does not mean the item has zero value
a bubble does not mean once burst the value goes to zero

a bubble just means the price is inflated way above a viable value

housing bubbles did not kill real estate. people still buy houses

[taufik123]

-snip-
FUDs? They killed positive mindset before but not now. People are becoming skeptical about that especially when there is no basis.

FUD is only an influence for fundamentals which of course has an impact on the price decline that will occur. Many FUDs are deliberately distributed.
The volatile cryptocurrency market makes the risk of trading in crypto higher. People who are sectarian about the volatile state of the market are certainly people who have no foundation or knowledge of cryptocurrencies.
positive mindset and broad knowledge will be needed before making an investment.

[South Park]

I wouldn't waste my time reading an article that repeats everything that BTC haters and FUDsters have been saying about Bitcoin during the last 10 years.
1.Bitcoin is a bubble?Yes,the Bitcoin market can form price bubbles.Every financial market is forming price bubbles.Is there something wrong with that?
2.The "crypto whales"/"crypto elite" is a bunch of greedy scammers.
Well,some of them can be called scammers,some of them are actually legit.Bitcoin cannot be called a scam only because scammers are using it.Being greedy is still not considered a crime.
3.Bitcoin is an investment/speculation tool rather than a real currency.
This is partially true and there's nothing we can do about it.

It is all what they have and each day their arguments are becoming less and less convincing, after all people will not go against their self-interests, if they can profit from bitcoin or at least they can protect their wealth with it then they will use regardless of all what they say, and this is what it is driving them crazy, they know they cannot kill bitcoin but they thought that they could at least discourage people from adopting it by spreading lies and old arguments like the ones you bring, but now that the economy is not going well they are realizing this is not something that can be done forever and this tactic is losing its effectiveness really quickly.

[Kasabus]

I wouldn't waste my time reading an article that repeats everything that BTC haters and FUDsters have been saying about Bitcoin during the last 10 years.
1.Bitcoin is a bubble?Yes,the Bitcoin market can form price bubbles.Every financial market is forming price bubbles.Is there something wrong with that?
2.The "crypto whales"/"crypto elite" is a bunch of greedy scammers.
Well,some of them can be called scammers,some of them are actually legit.Bitcoin cannot be called a scam only because scammers are using it.Being greedy is still not considered a crime.
3.Bitcoin is an investment/speculation tool rather than a real currency.
This is partially true and there's nothing we can do about it.

It is all what they have and each day their arguments are becoming less and less convincing, after all people will not go against their self-interests, if they can profit from bitcoin or at least they can protect their wealth with it then they will use regardless of all what they say, and this is what it is driving them crazy, they know they cannot kill bitcoin but they thought that they could at least discourage people from adopting it by spreading lies and old arguments like the ones you bring, but now that the economy is not going well they are realizing this is not something that can be done forever and this tactic is losing its effectiveness really quickly.

For a government that sees bitcoin illegally, then it will be expected that there will be people who will start attacking bitcoin and notice all its flaws and imperfections. I think that's normal for those close minded people and all they have are lies about bitcoin. But if they will start to go down deeper, i think they will see bitcoin as more profitable and has lot of potentials to make one's economy grow and prosper. But as long as the government still oppose in adopting bitcoin, then these people will not discover the real value of bitcoin.

However, bitcoin is definitely not a bubble because there's no bubble actually that can sustain its value and foundation over a decade.

[South Park]

I wouldn't waste my time reading an article that repeats everything that BTC haters and FUDsters have been saying about Bitcoin during the last 10 years.
1.Bitcoin is a bubble?Yes,the Bitcoin market can form price bubbles.Every financial market is forming price bubbles.Is there something wrong with that?
2.The "crypto whales"/"crypto elite" is a bunch of greedy scammers.
Well,some of them can be called scammers,some of them are actually legit.Bitcoin cannot be called a scam only because scammers are using it.Being greedy is still not considered a crime.
3.Bitcoin is an investment/speculation tool rather than a real currency.
This is partially true and there's nothing we can do about it.

It is all what they have and each day their arguments are becoming less and less convincing, after all people will not go against their self-interests, if they can profit from bitcoin or at least they can protect their wealth with it then they will use regardless of all what they say, and this is what it is driving them crazy, they know they cannot kill bitcoin but they thought that they could at least discourage people from adopting it by spreading lies and old arguments like the ones you bring, but now that the economy is not going well they are realizing this is not something that can be done forever and this tactic is losing its effectiveness really quickly.

For a government that sees bitcoin illegally, then it will be expected that there will be people who will start attacking bitcoin and notice all its flaws and imperfections. I think that's normal for those close minded people and all they have are lies about bitcoin. But if they will start to go down deeper, i think they will see bitcoin as more profitable and has lot of potentials to make one's economy grow and prosper. But as long as the government still oppose in adopting bitcoin, then these people will not discover the real value of bitcoin.

However, bitcoin is definitely not a bubble because there's no bubble actually that can sustain its value and foundation over a decade.

I think that governments are still on the fence about what to do with bitcoin, on one hand this is a new industry and they would like to get a lot of taxes out of it, but at the same time they are doubtful as they know that bitcoin is a direct competitor to their own fiat currencies, so they are trying the best approach for them which is to try to regulate the industry as much as possible, but bitcoin was specifically designed to avoid this, so no matter what they do they will never get the control over this market they are looking for.