Bitcoin can not currently say bubbles because they have not actually broken. Even last month the bitcoin gets big and the price is high but now the bitcoin has not gone down until the value is zero so bitcoin can still go back up again.bitcoin can tell bubbles if bitcoin it will fast big and then broke in instant.
Ignore those who talk about bubbles. Bitcoin was a bubble back in the $400-$500 days, and it still is today. In other words, it's a continuous bubble that keeps growing larger and larger throughout the years.
Once we're about the break through the $50,000 mark, Bitcoin will again be a bubble, which is something that will never stop. People who don't understand why Bitcoin has value in the first place, will even say that $100 is a bubble.
I however find it quite funny that despite these people not valuing Bitcoin, they still find it necessary to talk about it regularly, like it's part of their job. If you don't like something, then just ignore it, it's that simple.
It however has to do with them having missed the early train, that I am sure of.
More like people who don't understand that Bitcoin has no inherent value in the first place don't understand what bubbles are. Bitcoin's price is entirely made up by consensus and is therefore arbitrary. Unlike a lot of things that also are valued through consensus, Bitcoin lacks wide-scale adoption, meaning the number of people reaching consensus on value is extremely small and shallow, and therefore much more likely to be an outlier than say the value of the USD which is valued through consensus by hundreds of millions of people (on the low end). Bitcoin's price is made up by a small number of people screaming into an echo chamber and slowly more people get sucked in at already higher initial prices, so it doesn't look crazy to them. But eventually, you will run out of new people to get sucked in, and you are left with only your small echo chamber, and there's no one to sell your coins to anymore at higher prices. That's when the bubble pops. Perhaps we are in that phase now that the price is on a heavy and steady decline. Only time will ultimately tell.
Is this your first crypto crash?
Ha, far from it. It is the first crypto crash of this magnitude on a dollar basis, about $100 billion wiped out in the last 30 days. That's a first for everyone though because it's never happened before. I have no doubt there will be those who try to start the hype up again, insistent as ever that an asset with no inherent value and virtually no utility is really worth hundreds of billions of dollars. There's no shortage of things to be concerned about: low utility, volatility, shallow pool of market participants, more nimble competitors, expense of use. Each of those poses a threat to the price, but blind optimism continues to win the day. (Well, obviously not in the last month or so, but you get the idea.)
Are you sure this isn't your first crash? You're definitely not talking like someone who has been around crypto for long. Nothing wrong with that by the way. Yes the dollar value is greater but the percentages are the same so its all relative. All those things you mentioned as concerns are absolutely nothing to the successful, determined people behind these projects that see the future of block chain technology and the coins that come with it.
It's like the internet, I don't know how old you are but were you old enough to remember when it first came out? How many people said it would be useless because people have nothing to say to each other, now 90% of their communication is by email, chat rooms, social media, messaging apps, and that's just a fraction of how the internet has changed our lives. It too was once clunky, slow, a real pain to use, expensive, the dot com bubble reached $6.7 TRILLION, crashed even harder than this little crypto speed bump and now look where the survivors and new corporations since the crash are now. Blockchain and crypto is still very young and being tweaked and improved upon every week, just like the internet was, just like any old technology in fact.
I agree the concerns you mentioned will wipe out a lot of coins, probably a good 80-90% of them, just like the dotcom bubble, but blockchain technology and Crypto currency is here to stay, its too great an advancement to just go away. The key now is finding which ones will be the Amazon and Google of the heap. Saying no utility is being very short sighted and tells me you have only invested in crypto for the capital gains and don't really know what the blockchain and its coins actually do or are capable of. Most of the coins have no utility, as I said above most will die like a lot of the early dotcoms did, but the 10% that do have the power to change our world a great deal just as email did, or smart phones or high speed internet connections rather that the old 56kpb dial up.
