Losing 30% of its value in few hours and than recover means the value is valid, don't you guys think so?
Actually, it can be a Bull trap, and/or denial. Sharp drop, sharp retrace.
There is no bitcoin bubble. People who say this are generally speaking without any knowledge of bitcoin at all.
500% in three months without a correction, not a bubble? lol People who say it's not a bubble have no experience of financial markets. See, I can make generalizations too!
People who know the fundamentals of bitcoin ..The rest of this irrelevant statement was ignored.
The fundamentals are no different than in 2009 when the genesis block was mined. A few useless sites that accept Bitcoin is not a fundamental plus. When I can pay my electricity, or car payment, or mortgage, or speeding tickets, or hospital bills, even buy something directly on Newegg (without a third party), etc THAT will be a fundamental change.
How is Bitcoin going to take over the world with only 7tx/second? Mastercard does that on a slow day, with broken machines and a blind lady manually punching in the CC#.
You can't get them easily, and if you buy more than 10, you break the exchanges.
Just because it may potentially be worth $1,000,000,000,000,000,000,000,000,000,000 one day, doesn't mean it's worth it now. I have this shiny new copper penny. It can do all the things listed above, it's physical so you can't delete it, and it still works without internet. Will you buy it for $70?
Bitcoin is not ready to go mainstream. If you push it too fast, before it can handle the volume, the general public will dismiss it faster than they adopt it...The End!
All that said, it will go up further still, after all, it is a bubble