Topic: Does anyone think the price is unsustainable? Only bears please and seriousness. - page 6. (Read 6940 times)

We have been seeing this since the inception of bitcoin.
Truth is that even despite the volatility at this early stage your fear is unfounded because nothing could possibly discredit bitcoin,
with a foundation of cold hard maths, anywhere near as much as fiat with a foundation of greedy bankers.

I was smart to sell those coins. It was not long before bitcoin was at 2.01. I was personally waiting for it to drop to the $1.00 range to buy in again and I was planning on buying in big. Oh well, missed my buy in point but was close enough.

Bitcoins now should be worth more than they were in early 2012 when I wrote that. It has been out longer and the technology tested better. However, the $800 price for a bitcoin is still crazy in my book and unsustainable.

But rising 2x or 3x is one thing. Rising as much as it has in such a short period is another thing. We are talking about a huge amount of money movement.

In the past, bitcoin price moving $10 dollars was huge. Now a $10 dollar movement is nothing.

It is hard to see how the demand has grown this much and how the market can support such a high price.

I am totally confused and can not figure out how the value can rise so fast so quickly. Lets face it, the technology is still very new and it is still difficult to even buy bitcoins for more computer savvy people.

Something just does not add up here. I personally believe there is major manipulation in the market right now by very rich players who can move the price easily short term.

Its not uncommon to miss Bitcoin advantages and just look at price. Then you think the price can not be real when you could buy 3 year ago just under 1 USD. But the more people use Bitcoin, the higher the price is, because userbase has high value in any business

Good point. It was just a badly written sentence. The other side is really to mean the bear side.

How can you stand on other side if you're actually like minded? I hope you're just some rare species because i do believe bears are not stupid.

If you read my first post correctly, I do not want to get into an argument with you bulls. I read every other post and know your or the bull side very well. I also said bears only, yet you come in and try and scare anyone from posting anything negative about the price and bitcoins.

I would just like to hear from the other side for once.

I personally do not think it is sustainable and want to hear from other like minded people to get some fresh ideas from the other side.

LOL at this thread ....FAIL HARD is your mojo huh ?

/end thread

So basically you JUST want people to respond who agree with you - or more accurately people that will make you FEEL BETTER about not buying bitcoins a few years ago when you heard about them.  What?

Why didn't you buy them then? Maybe it was for the same reasons that you telling yourself you don't want to buy them now. I'm not going to argue your points. Ill just let the "bears" come in and commiserate with you.

But, if you want a REAL discussion, you should welcome it from both sides, imo.

First I want to say that I would like If only bears here post. The reason why is I want to get the opinion only of people who think that the current price is unsustainable.

I get plenty of bull reasons on 99% of the other posts. I already know why bitcoin will reach 1 million dollars and how it is going to continue to go up. I am not looking for an argument here or more reasons why the price is cheap from people like this. I was around during the first bubble in 2010 and heard the same reasons as the price went form $30 to $2.00.

What I am curious about is how bitcoin can reach such a high price and actually hold? I would think many people still have coins from when they were single digits or even pennies and would be unloading now to become millionaires.

I also think that there would be a lot of people cashing out at these prices and because the price is so high that the few buyers who would actually buy for $800 could not keep the price up.

Here are some reasons why I think the price may be temporary so high.

1) There seems to be no easy way to cash out large sums of bitcoins. I have read posts where people who want to unload big time can not do it so easily.
2) The people that own bitcoins are just hording them and waiting for the price to go even higher
3) Bitcoins have changed hands so much now that many people who held large quantities of them have sold them already
3) There are a few big money players (or manipulators) who are trying to bring the price to new levels to get higher demand and price in the long run.
4) These same manipulators are trying to get the price to $1000 so that they can split bitcoin up into 1000 mbtc or something.

Does anyone think that the price is unsustainable and there is no way that the demand for these bitcoins can support such a high price? Do you think that eventually when people start cashing out it will drop huge because the demand simply isn't there to support paying off all the people who want to cash out?

I simply can just not believe that the demand for bitcoins is so great right now that they are truly worth $800. I personally have trouble buying bitcoins right now as I have been away from bitcoins for a couple of years.

I am hopefully looking for some like minded individuals who also believe that the current price is unsustainable and simply crazy.