David Rosenber: Bitcoin is in a 'massive bubble' - page 2.

eaLiTy

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Quote from: 3meek on December 26, 2020, 05:37:27 AM

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There are certain phases of the market that can last for years or decades, but the cycles do not change from the duration! So bitcoin burst in 2017 and recovered in 2020!

Depending on the market it is true, the BTCitcoin market usually recovers every 4 years and it coincides with the halving as well and it is a perfect timing and i do not think that we will see any major changes in that aspect.

Quote from: 3meek on December 26, 2020, 05:37:27 AM

And I'm sure another bubble burst and another recovery awaits us... Just look at the chart to see how many bubbles there were...

It is how the market will perform and we need correction and this time around as the investors are pouring in millions every time there is a correction we should expect a massive burst when all these investors decide to book their profit.

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Quote from: Findingnemo on December 25, 2020, 08:18:28 AM

Quote from: 3meek on December 25, 2020, 01:37:33 AM

snip~
This is not correct reasoning... Just look at the dotcoms bubble, which burst just like the Bitcoin bubble in 2017... Some companies like Google, Amazon, eBay and so on have recovered and grown in value... About the same situation we see now with Bitcoin! Wink

I am talking about the bitcoin not cryptocurrency in general, so you can't call the dump as bubble burst because no one can deny that prices recovered faster in no time compared to the big companies you are talking and still no end to be seen for that recovery.

It has nothing to do with the recovery time... There are certain phases of the market that can last for years or decades, but the cycles do not change from the duration! So bitcoin burst in 2017 and recovered in 2020!
And I'm sure another bubble burst and another recovery awaits us... Just look at the chart to see how many bubbles there were...

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Quote from: coolbaughandrew on December 21, 2020, 03:43:24 AM

This is the best part of the interview

Quote

You speak to most people that are asking me to put money in bitcoin, they can't even tell you who the person was that developed it

I bet Rosenber knows nothing about Satoshi and his decision to stay anonymous.

LOL yea, they think everything that's released by some anonym is bad. We have open-source community growing so much in 2020 and some big portion of them are just anonymous with some internet nickname and as long as their existence gives many benefit to the whole world like how bitcoin has given us an option to easily send money across continents without the constraint of middlemen. it's just wrong to think something is bad just because it comes out of anonmy persona.

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Quote from: AjithBtc on December 22, 2020, 05:53:52 PM

These economists are much connected to the financial systems and weren't knowledged about the technology associated development and progress. This is why the economist hasn't got a clear information about mining process as well as about the flawless functioning of the network. Whenever something is bullish these people frame this as bubble to create panic mind among the people who are already in fear.

Yeah that is true, and also there are so many economist out there. You will probably find one for every argument you want to win. But how credible is he, can we really trust him or maybe he his just promoting his own agenda? Economists with strong ties to the financial world could be acting in the interest of others. For me bitcoins are not a bubble.

btc_angela

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Quote from: fullhdpixel on December 26, 2020, 01:18:44 AM

Well, in some ways he’s kind of right and in some he’s totally wrong. Yes, there are a lot of people that are investing their money in Bitcoin without fully understanding it and like he said they can’t explain it to him and give him reasons why he should, well he’s not wrong in the part.

Yeah, those are noobs who think that bitcoin is a get rich scheme, of course they are totally wrong with that mind set because its not like that.

But the thing is that they can learn their lessons here and become a successful investor.

Quote from: fullhdpixel on December 26, 2020, 01:18:44 AM

But that doesn’t he’s right, because he too seems like he doesn’t fully know about Bitcoin, he still needs to educate himself more on it. And as for the 21 million limit on bitcoin, we are forgetting that more that people are buying it , the more the value for each BTC will be increasing, and let’s not forget it can be broken down to fractions like Satoshi, and mBTC and uBTC.

Just a typical hater of bitcoin, but we all know that there are haters before who completely made a U-turn and started to invest on the market. So maybe in the next coming years he will realised he is wrong and join the bandwagon.

fullhdpixel

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Well, in some ways he’s kind of right and in some he’s totally wrong. Yes, there are a lot of people that are investing their money in Bitcoin without fully understanding it and like he said they can’t explain it to him and give him reasons why he should, well he’s not wrong in the part.

But that doesn’t he’s right, because he too seems like he doesn’t fully know about Bitcoin, he still needs to educate himself more on it. And as for the 21 million limit on bitcoin, we are forgetting that more that people are buying it , the more the value for each BTC will be increasing, and let’s not forget it can be broken down to fractions like Satoshi, and mBTC and uBTC.

Findingnemo

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Quote from: 3meek on December 25, 2020, 01:37:33 AM

snip~
This is not correct reasoning... Just look at the dotcoms bubble, which burst just like the Bitcoin bubble in 2017... Some companies like Google, Amazon, eBay and so on have recovered and grown in value... About the same situation we see now with Bitcoin! Wink

I am talking about the bitcoin not cryptocurrency in general, so you can't call the dump as bubble burst because no one can deny that prices recovered faster in no time compared to the big companies you are talking and still no end to be seen for that recovery.

btc_angela

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We respect the guy, but no one has seen crypto, its fairly young market and the data is only small to say that we are in a bubble or not. What we have is the 4 year cycle, last time is 2017 bubble. But with the market situation right now, I would say that we're not yet at the peak, there's a lot of leg room and spike. With that said, I would think that we are just starting to see the formation of the bubble, the whole 2021 will be the scene whether we can reach the top and collapse or continue to see the price going up till 2022.

3meek

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Quote from: Findingnemo on December 24, 2020, 10:36:59 AM

Quote from: 3meek on December 24, 2020, 09:46:20 AM

Quote from: Findingnemo on December 24, 2020, 09:13:38 AM

Expert economist doesn't mean he is right with all their predictions and basically it is too hard for many of the economist to a fastest growing assets like bitcoin because they need time to get used to the conditions. I am following one of a popular economist in my native language he is very good in making analysis and giving investment ideal about traditional investments but still he says that bitcoin is created using computer so we shouldn't trust with our money. Cheesy

Maybe he's partly right? Because bitcoin at any price will do its tasks... And bitcoin's original purpose, in my opinion, is to transmit value...
And speaking of the bubble, economists are right too... For example, the 2017 bubble... Now we are on the cusp of a new bubble...
IMO Wink

Well once bubble popped it won't regain its previous position but bitcoin managed to reach new all time high prices after every bearing trend is making it different from bubble.

This is not correct reasoning... Just look at the dotcoms bubble, which burst just like the Bitcoin bubble in 2017... Some companies like Google, Amazon, eBay and so on have recovered and grown in value... About the same situation we see now with Bitcoin! Wink

AndySt

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Quote from: crzy on December 24, 2020, 05:06:48 PM

Quote from: Dragonfund on December 24, 2020, 04:33:31 PM

He is absolutely right, Bitcoin is bubble and those who are already in will not believe this, they will tag you as anti Bitcoin and at the same time, those complaining currently will be happy if they are the one who bought bitcoin at bottom with this sweet profit.
We will always complain about something especially when it's not in our favour, that's why I try possible best with ant influencers with negative energy with Bitcoin. Somebody should try to setup a wallet for that man any time bitcoin goes below $10k, he would keep quiet for eternity ones he is in profit. Grin

A bubble that will be in favor to you once you believe on it, Bitcoin is too volatile and maybe this is why many says Bitcoin is a bubble and they are just creating panic. Predictions is normal and we have to believe on our own prediction and don’t just listen to anyone, if you see great potential with Bitcoin then you have nothing to worry about what people say about Bitcoin, its just a matter of how much risk you can take.

Bitcoin is already so often called a bubble by all sorts of experts for its not so long history, so there is no certainty that such statements are unlikely to cause any panic among investors, I will even say more that investors do not react to them at all Wink

A real panic among investors can be caused by completely different words coming from government officials and some events that can directly affect bitcoin.

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Quote from: dothebeats on December 19, 2020, 03:49:45 PM

It is important to note that Rosenberg identified the housing market bubble in 2005 right even before things started going south in 2008.

Rosenberg identified the housing bubble as he could understand the facts surrounding it but if you look carefully what he said he does not even understand how mining is done which means he does not literally understand the basic structure of bitcoin and how can he comment about a financial structure he does not understand Tongue

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I also not arguing the fact that the cryptocurrency market is a speculative market and people invest heavily thinking of making a huge profit and you need to expect the fact that the market could go down anytime when these big fund houses decide to sell off the coins at one go. Even if we have a huge correction the market will continue to grow and we are expected to see the same rally after every halving.

crzy

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Quote from: Dragonfund on December 24, 2020, 04:33:31 PM

He is absolutely right, Bitcoin is bubble and those who are already in will not believe this, they will tag you as anti Bitcoin and at the same time, those complaining currently will be happy if they are the one who bought bitcoin at bottom with this sweet profit.
We will always complain about something especially when it's not in our favour, that's why I try possible best with ant influencers with negative energy with Bitcoin. Somebody should try to setup a wallet for that man any time bitcoin goes below $10k, he would keep quiet for eternity ones he is in profit. Grin

A bubble that will be in favor to you once you believe on it, Bitcoin is too volatile and maybe this is why many says Bitcoin is a bubble and they are just creating panic. Predictions is normal and we have to believe on our own prediction and don’t just listen to anyone, if you see great potential with Bitcoin then you have nothing to worry about what people say about Bitcoin, its just a matter of how much risk you can take.

Dragonfund

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He is absolutely right, Bitcoin is bubble and those who are already in will not believe this, they will tag you as anti Bitcoin and at the same time, those complaining currently will be happy if they are the one who bought bitcoin at bottom with this sweet profit.
We will always complain about something especially when it's not in our favour, that's why I try possible best with ant influencers with negative energy with Bitcoin. Somebody should try to setup a wallet for that man any time bitcoin goes below $10k, he would keep quiet for eternity ones he is in profit. Grin

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Quote from: sheenshane on December 22, 2020, 04:55:11 PM

It really is funny to hear those statements from an economist.

IMO, you can smell that there’s an agenda behind it. But he has a point when he mentioned the part on how Bitcoin has been developed and might the anonymous identity really is grey. However, I really find it hilarious when he stated about the mining process. Just like wait, you’re an economist, you do a complex process, you should know how the system works and study it.

There are some points that I tend to agree with him and he was right, probably those investors now didn't think about the long term investment, they want a quick profit, they just only know the basic of how Bitcoin will work. But they don't deeply understand the whole system.

That is what happens when you have a bunch of people being paid to not understand something, they try to use their credentials to intimidate people and make them listen to them but for people that actually take the time to research stuff by themselves credentials mean nothing, if you are right you are right, if you are wrong you are wrong, and he is in the wrong here, but this is nothing new, when the Internet was at its early stages there were a lot of people that thought it will disappear and that the average person will never use it, and now look at us and I think something similar may happen to bitcoin in the future.

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Why only bitcoin?
The entire cryptocurrency market is a little more than 100% speculative. And until this market "lands" and is not transformed into real solutions for real markets, it will remain speculative. Therefore, the waves from the rise / fall of the crypto market will be repeated more than once. Take today's growth - it will last another 2-4 months (+/-), after which there will be another drawdown in the crypto market, a period of "depression" and another controlled pumping of the market, withdrawal of "surplus" fiat from "home cryptoexperts"

Findingnemo

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Quote from: 3meek on December 24, 2020, 09:46:20 AM

Quote from: Findingnemo on December 24, 2020, 09:13:38 AM

Expert economist doesn't mean he is right with all their predictions and basically it is too hard for many of the economist to a fastest growing assets like bitcoin because they need time to get used to the conditions. I am following one of a popular economist in my native language he is very good in making analysis and giving investment ideal about traditional investments but still he says that bitcoin is created using computer so we shouldn't trust with our money. Cheesy

Maybe he's partly right? Because bitcoin at any price will do its tasks... And bitcoin's original purpose, in my opinion, is to transmit value...
And speaking of the bubble, economists are right too... For example, the 2017 bubble... Now we are on the cusp of a new bubble...
IMO Wink

Well once bubble popped it won't regain its previous position but bitcoin managed to reach new all time high prices after every bearing trend is making it different from bubble.

3meek

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God, save BTC!

Quote from: Findingnemo on December 24, 2020, 09:13:38 AM

Expert economist doesn't mean he is right with all their predictions and basically it is too hard for many of the economist to a fastest growing assets like bitcoin because they need time to get used to the conditions. I am following one of a popular economist in my native language he is very good in making analysis and giving investment ideal about traditional investments but still he says that bitcoin is created using computer so we shouldn't trust with our money. Cheesy

Maybe he's partly right? Because bitcoin at any price will do its tasks... And bitcoin's original purpose, in my opinion, is to transmit value...
And speaking of the bubble, economists are right too... For example, the 2017 bubble... Now we are on the cusp of a new bubble...
IMO Wink

Findingnemo

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Bitcoin = Financial freedom

Expert economist doesn't mean he is right with all their predictions and basically it is too hard for many of the economist to a fastest growing assets like bitcoin because they need time to get used to the conditions. I am following one of a popular economist in my native language he is very good in making analysis and giving investment ideal about traditional investments but still he says that bitcoin is created using computer so we shouldn't trust with our money. Cheesy

disconnectme

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The problem with most of these economist is that they think that the world must be viewed only through their own lens, if you don't understand something, it is not a crime to ask. If you think Bitcoin is a bubble, what else is not a bubble, what about stock market, the Gold bug has been saying Stock market collapse is coming but has made several highs this year alone.

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Quote from: Sirait on December 22, 2020, 06:42:04 PM

^ bullish Bitcoin in 2017 was a bubble, but bullish this time is different. The price of Bitcoin is slowly rising, accompanied by a lot of positive news from large companies that are getting interested in Bitcoin, hence the opinion that Bitcoin is a massive bubble is very wrong.

^ I was expecting a better opinion from an economist. A better statement that makes sense. But on this one, I really find it non-sense.
Follow-the-herd does not apply with Bitcoin, It is different. We never invite people to join us and we have independence. Mr. Rosenberg should do his research. But yes, I would agree, the last bull has a lot of disappointments ahead of it but things go that way, and as long as it returned to the bull this year, that would be enough.

Topic: David Rosenber: Bitcoin is in a 'massive bubble' - page 2. (Read 745 times)