Topic: Is it fair to call it burst of bitcoin bubble. (Read 539 times)

To me bitcoin went away too high in 2017 and the market has to reset in other for us to began to see another upwards movement.  It is not a bubble burst but a reset of the market which is normal in every market especially the forex  and stocks market.

If that happen many old investors will be happy but there is no hard and fast rule that always history will repeat. So invest wisely and make money.

Next time try to learn to book some profits now and then instead of just holding your investment forever. Because many people just watched prices touching 20K mark but never really they are benefited from those high prices.

yup, it's impossible to predict but exciting to speculate about. metcalfe's law/network effect should apply to lightning the same way it applies to bitcoin. if it ever experiences the same kind of exponential adoption, we're talking about an insane amount of supply being locked up in LN channels. that could have a huge effect on price.

We should expect coins with smaller capitalization to see larger percentage gains (and losses). That's why Bitcoin's gains from September 2010 - June 2011 blew the 2013 and 2017 bubbles out of the water. Markets are much easier to pump when they're tiny.

What are you really saying with your narrative? Are you saying the dream is dead, because ICOs and Tether? If Tether was pumping the markets, so was the Willy Bot in 2013. So what? Real people were still paying $1200 in 2013 and $20K in 2017. Litecoin and other early altcoins as well as security markets like Havelock Investments and ASICminer swallowed up coin supply and pumped prices back then just like ICOs did in 2017. These are the same cycles playing out over and over.

BTC is the unit of account for virtually all altcoin and ICO markets because the entire market has immensely more faith in BTC than anything else. Sure, ICO markets increased demand for BTC, but there's no way to separate that from all the other demand for BTC. Hell, many altcoin traders (including myself) only trade those markets so they can earn more BTC. Bitcoin was already returning to its previous ATH in early 2017 before the altcoin bubble began. The bubble would have happened regardless of ICOs or Tether. Those simply exaggerated things and drove prices higher.

That would be the tail wagging the dog, thats not an excuse for Bitcoin because there will always be copycat schemes to any successful product.   If anything I'd be surprised we dont have more as Bitcoin has no official way to fight trademark infringement.
But also its a test of the product that people are looking for the original to be the best.   I dont see ETH having success or not, or being a product that was open to alot of sale without substance is why BTC has kickback or reason to fail.

Same thing can apply to a FIAT standard with people attempting to copy the originals and print as many as possible.    Its going to be part of the challenge to establishing a reasonable crypto network, to remain distinct and discernible in its transactions

If we look at things from an unbiased perspective, we have only the block halving as event that will play out for sure and very likely drive the price up before and after. Lightning is something that people have to use first to understand and appreciate, because most people right now wrongly assume it's not ready, can't be used, and that it might take like years before it's rolled out.

Lightning is something that will later on affect the market positively, because that presents an opportunity for people to 'stake' their coins by locking them up in Lightning channels to scoop up fees. It wouldn't really surpise me if there are like 50,000BTC locked up in the Lightning Network within 5 years. The more coins are locked up the less that can be sold on the market, it's that simple.

I am agree. The thing is many people become interested in bitcoin only after it began to growth in 2017. That time there where a lot of fud information that bitcoin will go to 50000$ and many new investors were hooked on this and invested in bitcoin at high prices. Normally now they say that bitcoin is a bubble which popped.

@WinslowIII: halving, Brexit, stocks crash, LN and some linking to institutional investments (bakkt, etf,  ...) can all be catalysts.

And I think that Bitcoin needs at least 2 catalysts to start going up for real (bull market as a first step before the FOMO).

I don't call this the burst of bitcoin bubble but it's similar to the movie the purge. We'll now seeing the real value of the tokens when the government becomes more stricter about pump and dumps and exchanges volume manipulations. It's also killing all useless and copycat altcoins in this bear market so we'll only see valuable projects that will last.

The last catalyst in my opinion was mainly er20 icos that aren't ever going to explode again. What do you see the next catalyst being? actual mainstream finance adopting crypto? because I don't see that happening anytime soon, certainly not by next halving.

There were more causes, for example opening the crypto markets in certain Asian countries.
Social engineering did quite a good job too on that, advertising news that are doubtfully beneficial for Bitcoin as super great.
The FOMO sentiment was unprecedented.


Imho the bubble bursted quite a number of months ago. Imho now we are on "the other side" of speculation, when the price is kept extremely low for no valid reason (and may go even lower!).
Patience is the key. This is just a new accumulation phase, like we had in 2015.


PS. I expect during years such cycles to go on and on. Rinse and repeat.

Bitcoin had more downfalls in '13-'15 and it was pronounced dead over a 1000 times. Burst of the bubble and dead of Bitcoin is only when the price hit 0.

My very last bitcoin is nought on under $300 level. I'm still on plus and meanwhile make enough from trading. So I'm not expecting anything, not calling anything, I'm just doing my job. Everything else is unnecessary loss of energy.

Goddamn, you people are so clueless. The Ethereum er20 tokens created an ico scam bananza that blew the whole scene up - that, and usdt created out of nothing to pump the markets. Bitcoin wasn't the reason for a $20k price, it was the scams surrounding it that made everything rise, including bitcoin - which btw rose at a much lower rate than pretty much every other top 10 coin. Even Litecoin kicked it's ass in proportional gains from 2015 to late 2017.
So where are we now is the question.

Boom and bust is a different analogy and when a bubble pops thats it, you dont have any substance remaining after the bubble pop.   So that extreme an example is not current or relative to the Bitcoin transaction confirmation network.   Same for people who want to call it a ponzi scheme and so on, do you really believe thats a correct definition because stating that is misleading and incorrect imo and its been shown as wrong over last five years or more.

  People rely far too much on a price for an idea of success or not when its really not about that and didnt start that way and wont end up as that either imo

It only shows that bitcoin price is unpredictable and nobody can really predict what going to happen in the whole year or the future. Those predictions that given by the crypto experts are only a guide or assumptions to create news and speculate the market into a bullish trend if people will take the ride. I think it's not correct to call it burst of bubble when it dumps from $21k down to $5k it could be the effect of volatility because if it's a bubble it will go down to zero and die. Bitcoin has still making a good volume and this will be back on top again in the right time with the support of the community.

Depending on where you look, the high increase then falls low indeed it looks like a bubble, but because the market conditions are unstable so the price movements become very volatile.

Bubble is not something you can actually call right away when something falls off.
With that logic apple was in a bubble and that bubble burst. Can we call what apple or amazon did a bubble ?
I don't think so, we all know apple and amazon will continue to grow and grow and eventually be double and even triple of their value right now.

Hence, just because something drops down a bit from its peak doesn't mean it will never pass the peak again, if you believe apple has a chance to grow bigger than its peak one day, why don't you trust the same would happen to bitcoin ? Maybe this drop is not bitcoin related and the market caused a chaos among investors which affected bitcoin first and stocks later on ? I doubt we can call this a bubble, it is a correction which we will recover from one day.

I disagree, the prices at the end of the year of most cryptocurrencies clearly showed we were in a bubble and now that bubble has burst, it seems some have a problem calling things as they are, we were in a bubble accept it, but that does not mean the technology of bitcoin is not useful and cannot grow even more in the future, in fact I expect that to be the case but I hope the next time the price of bitcoin grows we do not see another bubble forming.

Bubble usually doesn't last that short. What we call "bubble" is something that takes a long time and bitcoin wasn't that high for long time, it was just a "hype" if you will that people realized they could get rich really quickly but than realized it wasn't sustainable.

Bubble is just like housing market where almost all globe gets affect by, when the housing market crashed in 2008 the american economy was effected so much that even some other countries got into economical crisis because of it, 2008 housing market created a wave of bankruptcy all over the world. The first known bubble of tulip bubble effected Netherlands so much that at one point a house was sold for a bulb of tulip.

On the other hand bitcoin went up and down not effecting too many people (maybe some of us but we are small compared to world population) and that can't be considered bubble.

Bitcoin itself is not a bubble. There's no disputing that. But the boom and bust cycles are similar to those which people would associate with a bubble. A bubble does not have to begin and end at 0.