I believe this rising speed is because of 2x fork's "free coin" idea and that's why whales hodl their bitcoins. It looks like easy %20 more money for them.(assuming 2X=1000$).
And good news and price makes newbies buy more bitcoin but that's until fork happens and whales starts to take their profit.
Also new bitcoin buyers will start to sell because of fear (%10 correction would mean 400$ in 4000$, now that will look 700$ which looks scary)
Price dip and stabilise at some point.
Topic: Bitcoin Bubbled Many Times - page 2. (Read 646 times)
In other words, it's different this time.
I don't know when this thing is going to pop, but it will. In every bubble there have been people who have rung the alarm way too early. I'm probably one of those, and we may get to $50,000 before the popping, but it's going to happen if the price keeps going up this fast. That's my concern, that we've gone too high too fast. And if you think bitcoin is so different from other bubble precedents, think again. A bubble is a bubble and it has little to do with what the asset is and everything to do with human behavior. You'll see.
I don't know when this thing is going to pop, but it will. In every bubble there have been people who have rung the alarm way too early. I'm probably one of those, and we may get to $50,000 before the popping, but it's going to happen if the price keeps going up this fast. That's my concern, that we've gone too high too fast. And if you think bitcoin is so different from other bubble precedents, think again. A bubble is a bubble and it has little to do with what the asset is and everything to do with human behavior. You'll see.
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Yes Bitcoin crashed multiple times this year, by more than 30% in January, July and September. But the currency came back stronger every single time. It is currently roaring at $7,000. You would think that more mainstream journalists would take a step back and wonder why this cryptocurrency keeps coming back stronger and stronger every time it is under attack.
But you’d be wrong--most mainstream journalists suffer from a serious case of confirmation bias. That means they dismiss any information or data that does not support what they already believe, namely, that Bitcoin is a bubble, end of discussion.
Read more here...
People who are doubting Bitcoin keep on talking about the big possibility that soon Bitcoin can be a big bubble that will popped right before our big and wide eyes. Not surprisingly, these people's predictions have not yet come true practically because they are basing their arguments on the past historical parallels that may not be totally applicable to Bitcoin. There are many corrections from time to time serving as the buffer for the bubble...and I know we all are aware of that.
Should we then be concerned about the bubble or the fact that we failed to buy Bitcoin when it was still cheaper?
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