I think we just started a bubble. - page 2.

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legendary

Activity: 1232

Merit: 1030

give me your cryptos

Quote from: DiamondCardz on November 03, 2015, 04:48:39 PM

Quote from: Amph on November 03, 2015, 03:35:39 PM

i think it's normal, it's how the increase work in a very unstable market like this

An "unstable market" is not normal nor good. Granted, Bitcoin is fairly unstable, but prior to recently it was pretty stable around the $230-$250 mark...

Quote from: Amph on November 03, 2015, 03:35:39 PM

you can't simply expect that, all traders synchronize their trading activity and decide to pump step by step, it does not work in that

1 buyer simply see the price rise and jump in, then the next one, then another one, and then you have the first, who buys again... and another parallel reaction like this will happen in the meantime and so on..

Until it forms a bubble and crashes. It's happened plenty of times bud.

Bitcoin is an unstable currency, so random jumps in price are normal. You just have to be aware and try to foresee a bubble popping, or someone faildumping and we all lose out.

If only we had a certain day that everyone pitched in and dumped their bitcoin. That would help momentously.

DiamondCardz

legendary

Activity: 1134

Merit: 1112

Quote from: Amph on November 03, 2015, 03:35:39 PM

i think it's normal, it's how the increase work in a very unstable market like this

An "unstable market" is not normal nor good. Granted, Bitcoin is fairly unstable, but prior to recently it was pretty stable around the $230-$250 mark...

Quote from: Amph on November 03, 2015, 03:35:39 PM

you can't simply expect that, all traders synchronize their trading activity and decide to pump step by step, it does not work in that

1 buyer simply see the price rise and jump in, then the next one, then another one, and then you have the first, who buys again... and another parallel reaction like this will happen in the meantime and so on..

Until it forms a bubble and crashes. It's happened plenty of times bud.

Amph

legendary

Activity: 3248

Merit: 1070

i think it's normal, it's how the increase work in a very unstable market like this

you can't simply expect that, all traders synchronize their trading activity and decide to pump step by step, it does not work in this way

1 buyer simply see the price rise and jump in, then the next one, then another one, and then you have the first, who buys again... and another parallel reaction like this will happen in the meantime and so on..

OROBTC

legendary

Activity: 2912

Merit: 1852

Quote from: DiamondCardz on November 03, 2015, 02:12:56 PM

As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.

Well, I don't know if/when the next BTC bubble starts. You might be right, such sharp two day moves (two days so far...) often are a sign that bubbles may be underway. Even in BTC, where HUGE moves are common.

I am working on my own personal strategy of buying gold w/ BTC when the Gold:BTC ratio gets favorable (gold cheap in BTC). ounce.me shows that ratio at around 2.69, very cheap by recent standards.

Everyone (or at least everyone who has children) should own some gold. Gold and BTC are a great pair of assets to own.

eternalgloom

legendary

Activity: 1792

Merit: 1283

I really hope the market adjusts soon, luckily this isn't the same situation as in 2013/2014 with Mt. Gox.

Triple

hero member

Activity: 847

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Quote from: DiamondCardz on November 03, 2015, 02:12:56 PM

As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.

Now this is someone who knows what they're talking about. You're very correct in about being weary. However, this sort of thing has happened before the last huge increase and that was when BTC hit about 1000$

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: DiamondCardz on November 03, 2015, 02:12:56 PM

As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.

I think if the price goes to $500 it may stabilize there for year or more and then it will start rising slowly again. But if it goes way over $500, yes, it will be a bubble.

DiamondCardz

legendary

Activity: 1134

Merit: 1112

As of now, today the price on Bitstamp has increased by almost $50 and over 13%. This is not a sustainable increase. I feel like what should have just been a small correction could have just started to spur a massive bubble, and I would be extremely wary of this. Do not get too hyped by this, guys, please. Do not start taking out loans against Bitcoin. I feel it's great the price is increasing, but this is a risky deal for all of us.

Topic: I think we just started a bubble. - page 2. (Read 1526 times)