Topic: Is it fair to call it burst of bitcoin bubble. - page 2. (Read 539 times)
First of all Bitcoin is not a bubble but it has some rules how it's functioning. Looking at such conments here on forum it's easy to conclude that many users don't have a clue what is Bitcoin and how it's functioning, what are the basic characteristics. And that is really sad. They only motive is obviously only greed and when they are unable to fill that everyone else is fault and of course Bitcoin at first place. This shows how education about Bitcoin and cryptocurrencies in general is deeply needed.
I hear in news here and there many persons claiming the burst of bitcoin bubble in the year 2017. The price of one btc rose to $21 k and then falling to the levels of $5-6 k.
During the year 2018 several people were of the view that the price will again rise and break its previous record motioned above. The claims were different according to the mindset of the claimants. Few people claiming btc price will rise to $50k and surprisingly some claiming that it will touch $120 k.
The entire year of 2018 passed. The price was moving between around 6-7k US dollars. So the expectations of the people were not met.
I am of the opinion that it was the burst of bubble of people’s greed but not of bitcoin Because greed of the investors increased with very high speed. With the passage of time the price will increase but the price to touch the moon dramatically I think will end in the result got during last around one year.
What you think; is not it lesson to people to control their greed. Should not our expectations be near to realities?
Please share your view on it.
During the year 2018 several people were of the view that the price will again rise and break its previous record motioned above. The claims were different according to the mindset of the claimants. Few people claiming btc price will rise to $50k and surprisingly some claiming that it will touch $120 k.
The entire year of 2018 passed. The price was moving between around 6-7k US dollars. So the expectations of the people were not met.
I am of the opinion that it was the burst of bubble of people’s greed but not of bitcoin Because greed of the investors increased with very high speed. With the passage of time the price will increase but the price to touch the moon dramatically I think will end in the result got during last around one year.
What you think; is not it lesson to people to control their greed. Should not our expectations be near to realities?
Please share your view on it.
Hey let’s start with basic facts bitcoins is not a bubble, it’s a technology something people are yet coming terms with even after 10 years of it’s launch. I believe you were misled by the media, and the so called influential analysts who predicted big numbers without any fundamentals. If you see on this forum many regulars kept warning that 2018 bitcoins prices may slow down and gave reasonable targets, and I rely on their expertise rather analysts. I will advise you not to worry about the prices, but worry about it’s adoption if people adopt it prices automatically will increase, and I believe we’re already seeing decent adoption in 2019.
I've always thought of the bubble analogy as pretty fair, even when I properly took to Bitcoin in 2016, and even with 2017 and 2018 coming along. If anything the past 2 years have reinforced my understanding of a bubble.
And that's the cyclical boom and bust bubble definition. Not the tulip style spectacular boom and death in one fell swoop.
Nothing wrong with this being called a bubble. No less a bubble than say, stock market or real estate.
And that's the cyclical boom and bust bubble definition. Not the tulip style spectacular boom and death in one fell swoop.
Nothing wrong with this being called a bubble. No less a bubble than say, stock market or real estate.
Many speculators has said the bubble has burst but I think it is a corrections because bitcoin and cryptocurrencies market went too far in 2017. If we should have the same pump bitcoin and cryptocurrencies market witnessed in2017, last year it could be called speculatives assets but we see the reality of the market that last year and we really see how the market make some corrections and patterns through out the year. Traders that has been following the market has also made some money especially the bearish trend traders.
I will said that its not a bubble burst, when irs called burst, it won't have the ability to go back again while bitcoin still got yhe potential to go up
that's really the distinction to make. it all depends how we define "bubble". some people are referring to events like tulip mania or the beanie baby craze.
but around here, "bubble" more often refers to periods of "boom and bust" performance---explosive growth followed by harsh corrections. bitcoin has had numerous of these cycles.
Right now you can't say the bubble burst because a bubble and a correction are 2 different things.
When a bubble bursts the price would return maybe to 99% of its peak value and never gain stability and recover.
But BTC started the year at around $900 or so (2017 year) and its still 400% above that value, so its looks like a much needed correction. If it keeps dropping and goes to like $50 a coin, then yes the bubble did burst but most likely that won't happen.
When a bubble bursts the price would return maybe to 99% of its peak value and never gain stability and recover.
But BTC started the year at around $900 or so (2017 year) and its still 400% above that value, so its looks like a much needed correction. If it keeps dropping and goes to like $50 a coin, then yes the bubble did burst but most likely that won't happen.
it all depends on what "it" stands for.
the drop from $20k (not $21k since price reached $19.xk and no more) was obviously a bubble burst but the the real question in my opinion is about how much of the drop from that ATH to current price is because of bubble burst and how much of it is because of manipulation. i'd say the correction ended somewhere around $8.5k and the rest has been constant manipulation and artificial dumps that crashed it lower and made it a "reverse bubble".
as for prediction of others last year, we have had a wide range of them! most were bullshit because they were guesses without any basis even if they came true! and those predicting a new ATH were too caught up in their own illusion. but predicting a rise to start in 2017 was not so out of ordinary. we have had quite a long and large drop and logically it needed to end a while ago, the fact that it didn't end and continued more doesn't make them wrong per se.
the drop from $20k (not $21k since price reached $19.xk and no more) was obviously a bubble burst but the the real question in my opinion is about how much of the drop from that ATH to current price is because of bubble burst and how much of it is because of manipulation. i'd say the correction ended somewhere around $8.5k and the rest has been constant manipulation and artificial dumps that crashed it lower and made it a "reverse bubble".
as for prediction of others last year, we have had a wide range of them! most were bullshit because they were guesses without any basis even if they came true! and those predicting a new ATH were too caught up in their own illusion. but predicting a rise to start in 2017 was not so out of ordinary. we have had quite a long and large drop and logically it needed to end a while ago, the fact that it didn't end and continued more doesn't make them wrong per se.
the rise that is so pantastic in 2017 makes everyone so excited ... but after the passage of time throughout 2018 where the price of bitcoin dropped steadily which caused many people to panic and worry ... but I'm sure someday the price of bitcoin will return to prominence ... .
I will said that its not a bubble burst, when irs called burst, it won't have the ability to go back again while bitcoin still got yhe potential to go up, its veey unfortunate to seen bitcoin price falling in 2018, its a good run but now its full of manipulation, many people frustrated to see the price but actually it's not a bad price, the hype in 2017 that makes 2018 price seems like a bad price, but if you see the whole picture you can see bitcoin still in a good track
Such volatility exists since the very beginning of Bitcoin's existence. If you follow the past bear markets you will see that in comparison with them we still have some space for BTC to go lower to keep the peak to bottom ratio.
And as last bear market lasted almost 2 years, it would be not unreasonable to say, that in 2019 it might be better to accumulate BTC and HODL it. And you even do not need to make enormous investments. Many of customers of our cryptocurrency exchange buy now BTC worth $50-70 each paycheck.
And as last bear market lasted almost 2 years, it would be not unreasonable to say, that in 2019 it might be better to accumulate BTC and HODL it. And you even do not need to make enormous investments. Many of customers of our cryptocurrency exchange buy now BTC worth $50-70 each paycheck.
Is it fair to call a bubble something that went from 10 cents in price to 3600 (current price)? People see the fall from 20k to 3k but do not acknowledge that Bitcoin was priced less than 1 dollar once. And we still have to see about the future because I am sure Bitcoin will go up again.
Yeah price was just nuts. People were crazy pumped about bitcoin.
I hear in news here and there many persons claiming the burst of bitcoin bubble in the year 2017. The price of one btc rose to $21 k and then falling to the levels of $5-6 k.
During the year 2018 several people were of the view that the price will again rise and break its previous record motioned above. The claims were different according to the mindset of the claimants. Few people claiming btc price will rise to $50k and surprisingly some claiming that it will touch $120 k.
The entire year of 2018 passed. The price was moving between around 6-7k US dollars. So the expectations of the people were not met.
I am of the opinion that it was the burst of bubble of people’s greed but not of bitcoin Because greed of the investors increased with very high speed. With the passage of time the price will increase but the price to touch the moon dramatically I think will end in the result got during last around one year.
What you think; is not it lesson to people to control their greed. Should not our expectations be near to realities?
Please share your view on it.
During the year 2018 several people were of the view that the price will again rise and break its previous record motioned above. The claims were different according to the mindset of the claimants. Few people claiming btc price will rise to $50k and surprisingly some claiming that it will touch $120 k.
The entire year of 2018 passed. The price was moving between around 6-7k US dollars. So the expectations of the people were not met.
I am of the opinion that it was the burst of bubble of people’s greed but not of bitcoin Because greed of the investors increased with very high speed. With the passage of time the price will increase but the price to touch the moon dramatically I think will end in the result got during last around one year.
What you think; is not it lesson to people to control their greed. Should not our expectations be near to realities?
Please share your view on it.
I really can't understand people who saying Bitcoin is bubble. It price is not stable everyone knows! And if you can't get this risks, don't invest. It is really simple to do that.
Don't think about today, it is related with future. We are looking at future.
It almost, but never touched 20k, let alone 21k...
I wouldn't call it a burst of a bubble. It was more like an abnormal inflammation that healed itself back.
I wouldn't call it a burst of a bubble. It was more like an abnormal inflammation that healed itself back.
By definition the bubble burst. It's just that many associate a bubble with the price going from 0 to something high and then back to 0. Instead of it just being the price raising much above a fair price and then returning towards a fair price.
I think 'burst' isn't the right term but rather 'deflation' since the pieces are still intact (if you think that bitcoin is a bubble, that is.) It could go on to crazy heights once more should there be another catalyst for a bull run with the same degree as the 2017 run. The 2017 bull run to a new ATH was caused by media attention and credit card purchases, and the latter stages of the run was definitely caused by FOMO from non-believers who started questioning why the hell bitcoin is still going even after it crossed the $5000 mark.
It can happen, knowing how people's emotions can be easily swayed by a single factor.
It can happen, knowing how people's emotions can be easily swayed by a single factor.
What you think; is not it lesson to people to control their greed.
What happened is like the small ocean and lots of fish, there was a little fish in the lake and when fishing became easy, the number of fishermen and speculators increased in the vicinity of that lake.It is not greed, it is simply speculation, the willingness to pay for Bitcoin, 20000 was not the real price, but the same speculations.
Be smart and use it to buy or keep them for long periods, in the end the number of fish is limited
Well, first bitcoin did not grow to the level of 21 000 $ from reached 19 800 $ I understand that you mean that we have to be as one and move the price up but at the moment of greed in the market there is only a fear of loss.
I hear in news here and there many persons claiming the burst of bitcoin bubble in the year 2017. The price of one btc rose to $21 k and then falling to the levels of $5-6 k.
First, bitcoin didn't reached $21k, it peaked around $19,500-$19,700.
During the year 2018 several people were of the view that the price will again rise and break its previous record motioned above. The claims were different according to the mindset of the claimants. Few people claiming btc price will rise to $50k and surprisingly some claiming that it will touch $120 k.
The entire year of 2018 passed. The price was moving between around 6-7k US dollars. So the expectations of the people were not met.
The entire year of 2018 passed. The price was moving between around 6-7k US dollars. So the expectations of the people were not met.
It's because price moves based on speculation and sentiments of the people. Obviously, it didn't turn the way a lot of us wanted it to be, but for those who have been in this market long enough, the price is already a bubble and was burst in the whole of 2018.
I am of the opinion that it was the burst of bubble of people’s greed but not of bitcoin Because greed of the investors increased with very high speed. With the passage of time the price will increase but the price to touch the moon dramatically I think will end in the result got during last around one year.
What you think; is not it lesson to people to control their greed. Should not our expectations be near to realities?
Please share your view on it.
What you think; is not it lesson to people to control their greed. Should not our expectations be near to realities?
Please share your view on it.
It will definitely go up again, but we can never really tell. As far as the greed, I guess it's human nature. The market works in different cycles but currently the market is controlled by the bears. Might take some time before we really recovered and a reversal takes place.
it is not a burst if later bitcoin rises again to 21k, but if bitcoin is stable or even will continue to decline, they will still call it a bitcoin bubble has burst, even if later bitcoin has risen again, there is a high probability that people will also be traumatized before they finally chose to play safe. That play safe will make bitcoin hard to rise more
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