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Topic: Bitcoin has seen the currency gain nearly $3,000 in a day - Is this healthy? (Read 1441 times)

newbie
Activity: 93
Merit: 0
I think it is still healthy but I am not sure about it. It is increased too fast and unpredictable so I am in the middle.
newbie
Activity: 2
Merit: 0
What a crazy week!

Bitcoin has seen the currency gain nearly $3,000 in a day, and $6,000 in a week.
On Coinbase, it was trading at $19,000 at one stage today.
South Korea, as usual, saw the highest prices, at over $19,000 on Bithumb.

https://coinblip.com/blog/another-historic-day-in-the-life-of-bitcoin/

Is this healthy for Bitcoin in the long run?

Wow, a very significant increase.
If BitCoin continues to rise then the miners of BitCoin will prosper Grin
newbie
Activity: 93
Merit: 0
I quite worry about the bitcoin price now. It is increased too fast while people now trying to buying a massive amount and it looks like a dominos.
full member
Activity: 126
Merit: 100
Bitcoin is still in the price discovery range, so i dont think calling it unhealthy is right... We are on the verge of mass adoption, so anything could happen in a very short time frame.

With that said, i think we're due for a correction now, but nothing too big, just a few thousands in my opinion, to a 12-13k support level.
member
Activity: 714
Merit: 10
Living is easy with eyes closed ...
Perhaps such a crazy bitcoin growth associated with the intention to bring it to futures trading. It will be possible to shorten bitcoin. Accordingly, the higher price of BTC, the more profit will be on short positions. Let,s wait on December, 12th and then we'll see.
full member
Activity: 336
Merit: 102
I think it's not very healthy. I was somewhat relieved when I saw this morning that there was a small correction, about 15%. Stabilization with small fluctuations would be the best scenario.
newbie
Activity: 21
Merit: 0
Very unhealthy situation. But it was precisely from this angle that new technologies entered human life.
sr. member
Activity: 602
Merit: 252
This doesn't make any negative impact upon the growth, because all that happening with bitcoin seems to be the real growth. Apart from that, what's been taking place is completely upon the predictions made by enthusiasts who were the base for several cryptocurrency development programs.
newbie
Activity: 44
Merit: 0
I think it isn't very healthy. There could be a bigger correction comming soon but nobodu knows when (and if). One rule: only invest what you are willing to lose.
member
Activity: 364
Merit: 20
If it continues to grow at the same Bitcoin speed, then it can end badly for everyone:)
member
Activity: 68
Merit: 10
Today when I woke up, btc was at $16,700
Over the day it was going up and down untill a couple hours ago it was around $14500
But, over the last hour... shot up again to $16500... and who knows what tomorrow will bring...

I think the big boys are now buying and selling btc, causing bigger fluxuations
Dont let it bug you... try only looking at the price every Friday
full member
Activity: 294
Merit: 102
Well i'm also shocked that bitcoin gain $3000 in 24 hrs and i'm a little bit scared right now we all know that that faster bitcoins value rise the faster that  there will be a price correction although right now its a good thing that i profit a lot just need to be careful to make the right decision when to hold or sell.
newbie
Activity: 8
Merit: 0
In Korea, bit coin is steadily rising vertically. Bitcoin transactions are happening on several exchanges including BITHUMB.
full member
Activity: 966
Merit: 100
this is unhealthy for people who just watch it or just have 0.00001 btc, its really hurt guys, regrets first not invest 1 year ago..
full member
Activity: 364
Merit: 101
Such a rapid growth of the bitcoin rate is not a good indicator for bitcoin, since such an upswing will inevitably have its same sharp decline. Such volatility is a factor that will unbalance the economy of any country and the state will be forced to defend itself against such a negative factor by setting various restrictions and prohibitions on bitcoins.
sr. member
Activity: 532
Merit: 257
A BLOCKCHAIN SOLUTION TO DISRUPT TRADE FINANCE
What a crazy week!

Bitcoin has seen the currency gain nearly $3,000 in a day, and $6,000 in a week.
On Coinbase, it was trading at $19,000 at one stage today.
South Korea, as usual, saw the highest prices, at over $19,000 on Bithumb.

https://coinblip.com/blog/another-historic-day-in-the-life-of-bitcoin/

Is this healthy for Bitcoin in the long run?

I dont know what to say but Im really curious what makes btc pump rapidly and what sure is its good for holders with huge btc stored in their wallet they have already really big profit as of now
full member
Activity: 280
Merit: 100
I feel like FOMO is happening right now and a lot of noobs are going to get burned, the market is prime for a hard correction/short term crash. We'll recover into an insane bull run like always, but this time has been particularly wild. I don't think this is 'the crash' yet though.
newbie
Activity: 98
Merit: 0
The price of bitcoin has already exceeded 20K, which is obviously unhealthy, and some people say it's going to be 40K, or even 50K this year. I don't think so. Such a market is entirely speculative, and this is not the true value of the bitcoin.
full member
Activity: 208
Merit: 100
In long term it is not healthy and it is not sustainable as it can not keep going up like this. Big price swing is often seen in crypto coins.
member
Activity: 805
Merit: 26
in the long run it's very bad to progress, and let's not forget that everything that goes up fast, goes down just as fast
I am agreed with you opinion. Bitcoin repidly increases is ok for now but it will not long last. The more it will rise up the it will go down when it reach its peak. But it's quite amazing how the price of bitcoin goes high and high. Bitcoin surpass other cryptocurrency 2x than before.
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