Topic: Bitcoin price overvalued? Price Today: $1,827 (Read 2321 times)

i think that a lot of factors came into play for bitcoins value going over $1800.00, Japan Government starting to accept bitcoin, the influence that japans example is setting for many other countries, the fact that it is becoming harder to be skeptical of bitcoin around the world to commoners so to speak. as the information about bitcoin circulates more and more those who want to say bitcoin is nothing but a scam are running out of reasons not to be called out for spreading false info, not taking the time to learn even the base knowledge of bitcoin such as what is bitcoin and what are its most commonly known benefits and its endgame goal? the more people realize just how legitimate bitcoin is they will start to come into the bitcoin market. when i first heard about bitcoin it was already 2012 - 2013 at the time and all the news channels were saying was that you should beware of bitcoin because it was used in a scam on craigslist trying to steal money from people by telling them one of the relatives were in danger or that they owed funds to the state and that they had to pay in btc. to this day i dont actually know any other bitcoiners irl and only hear positive things about bitcoin from doing my own research and looking into it and then what i come across on this forum. im still waiting hopefully for the " just do what the media says" people around me will soon start to realize i was right about bitcoin not being a scam all along. Anyways back to the topic of the thread. Bitcoin is still gaining momentum in the world view. eventually even the most hardened of the willfully ignorant will realize that bitcoin is a much more legit currency then whatever there traditional fiat currency will ever be. when that happens bitcoin value will be far more then what is seen today. So yes You are correct that the japanese legalization of bitcoin is responsible for $1800.00 being crossed, but no your also incorrect in thinking that is the only reason.

Price is moving in with good phase. This is sure due to the fluctuations and the value recovery even after minor price drops. Previously it went as down as $1650, and now it has once again crossed $1800. If the price is overvalued or faked the drop could have continued without developing resistance.

It all started with ETH pumping from $6.5 up to $50 2 months ago if you all remember? at first some of the Bitcoin's marketcap literally moved into ETH which was obvious and every one called it out, then it went back to Bitcoin and the pump of other coins such as DASH, Ripple and other centralized alts began.

Who could've thought doge hitting 100 satoshis, ridiculous right?

And as always while they will pump later comes the dump, I don't know when we learn?

Though if you put some missing parts of the puzzle together you'll see LTC is still undervalued but I don't recommend buying rather mining it is better and smarter move because the price will naturally increase after difficulty does.

What ever happens Bitcoin will have the required support from community, after all, community is what really matters.

Currently you can say that the price includes a fairly decent premium, but that obviously only matters in the short term. If you look at the complete picture, then even $2000 will be nothing more than peanuts.

If you're purely long term minded as I am, then just sit back and enjoy seeing your coins grow in value throughout the years. At this point there is literally nothing that can stop Bitcoin from growing further, don't forget that.

Yes that's the right term for it, on what's happening right now is a correction. Thanks for clarifying and clearing it to me. It's like the balance of the economy and as well as the price of bitcoin. I'm loving it more this way when seeing after a price increase and then there would be some price fall, because we'll expect another increase very soon.

This is very serious claim, and i would like to hear some explanation if possible. I also think this price is high and pumped by the news, and will correct but i think won't go under 1k. Why 500$?
I believe those statements are over exaggerated, whatever happens price will correct and will continue to rise.
Too many people believe in BTC!

if everyone holds then price stays stable!
you have to buy bitcoin for the price to go up and you have to sell it for it to come down. and in the past years people have been buying more and more bitcoin, and although many of them are just holders but many more are new people with new money coming in to buy more bitcoin.

The real question will be asked if we near the $2000 wall $1827 is unlikely to be the peak in my opinion.
The question today is if it is overpriced for this date in time which I believe is possible, in the long run though maybe not mass adoption and growth will validate the price given longer periods of time but at this point in time perhaps it is.

It maybe a bubble but the chances to get burst will be very less when its appreciations happens along with mass adoptions.

Yes, not just the same traders and investors keep buying bitcoins but new investors from around the globe are rushing into bitcoin as new peaks of bitcoin makes them interested to move their investments from stocks and gold into bitcoins.

As long as bitcoin is being covered for massive rally and for impressive market cap, I guess this will keep on happening and hence there will be no chances for the bubble to pop up. But I agree there would be more possibilities for corrections time to time as its is just part of any trading, those fluctuations are just another entry point for new investors.

It is close again to $1,700 I don't worry at all, this is just a normal movement of bitcoin's price. And I guess it's getting ready for a real bubble and with that bubble it's very possible that the price can reach to $5k up to $10k and after that price increase then the bubble will be popped very soon.

And its already 1600 as of now and still continuing to dive , I have converted my btc to my local currency temporarily for another possible price decrease...

Whales will always be there to pump the price. But if you are saying that they are manipulating it and selling it at later time to profit is highly unlikely. Again this is not 2013, this is not a bubble. This are legit investors coming from Japan market. Trading volumes also indicate that Japan is leading the way. If whales want to sell, then they can do it with minimal impact to the price. Because we have a country now that is supporting the bitcoin ecosystem. And even if whale sells, new investor will be showing up because bitcoin price has been more stable and trusted. Australia, China, India, Switzerland are also showing good interest to legalized bitcoin as well. So no, manipulation of price of bitcoin now is very difficult specially for the whales.

what do you mean by overvalued ? well the bitcoin's price will never be overvalued it just simply goes higher by the way, it's really great that another country has legalized bitcoin and became a reason of a huge increase but probably that's not the only things that affected the bitcoin's price . anyway, I hope that there are more country who would do the same thing as japan did so that it would help bitcoin to become more recognized .

It was quite unexpected that bitcoin's price rose so high, we broke one record after another.
Market is exhausted by that amazing bull run, and price correction is the natural next step.

I don't think that bitcoin is overvalued in general, on the contrary it is still undervalued by several thousands dollar IMO.

Reasons behind present high price: Japan accepted BTC as a legal form of payment and the SECs announcement that COIN ETF will get another chance.

As I've repeteadly been saying, price we see is unrealistic and almost completely based on speculations. News from Japan are hugely overestimated. Besides that, nothing really big happened to justify this rally. And we still have pretty serious technical issues that must be solved.

As (mostly) a hodler, I just hope that the incoming crash correction won't be too hard.

It's not whales. Whales can't pump the price up. It's the HODLers. If everybody just HODLed the price would go to infinity.

Yes the price has reached much higher than what it was predicted to be.Its a little bit scary.But we could definitely say that bitcoin price is not manipulated this time.developments in japan and Australia may be one of the main reason for this price increase.

I would say it's undervalued. If people are giving a market capitalization of $ 7 billion to Ripple, Bitcoin should be in the $ 70 billion market capitalization or more.

Is it possible that whales are pumping the price right now to keep it high and they will sell at some point?

I agree with this, price of bitcoin can`t be overvalued. Price of bitcoin depends mostly from supporters, demand and supply, we know that with this big players can manipulate, but some things happened that making the price grow, adoption on massive level, Japan have more then 130 million citizens and their government give them blessing to use bitcoin now. Time will tell the truth about bitcoin, here we are supporters and users and we have good opinion about bitcoin future, but other people doesn`t share our believes. Look at this article, The Chinese author of this article is Ou Chengxiao, often nicknamed”Ou Guru” for his successful investment in real estate, he claims that bitcoin price is 1000 times overvalued:
http://news.8btc.com/the-price-of-your-bitcoin-is-1000-times-overvalued