I've been asking myself the same question. Bitcoin may not have been a bubble @ $6,000. If it ventures higher into the $7,000 to $10,000 range without adequate support it might venture into bubble territory, eventually. High growth has a potential to become unsustainable if it outpaces the underlying fundamental metrics by a significant margin. Crypto being a grey area and an emerging technology there isn't good data on what the best method is to calculate a fair price for btc much less what proportion healthy support/price ratios might represent. In a sense we're in uncharted waters and with that increased risk comes a higher potential for profit.
On the plus side, I can't deny it feels good to see gurus like Warren Buffett and CEO's of banks being proven wrong in claiming bitcoin's price couldn't go higher. Buffett and bankers could be in full damage control protectionism mode here as they attempt to trivialize bitcoin's success to deter people from pulling money out of stocks/banker investment vehicles and placing it in crypto instead.
Topic: Is this SUDDEN price rise good for BTC? - page 3. (Read 1427 times)
For me I think it is ok if bitcoin price suddenly increases day by day I mean even a company who accepts bitcoin as a payment wii be much thankful because their earnings can even get much higher. It's an automatic investment for those businessman so I don't think they need to be worry besides if the price will ever drop I'm sure it will not take any longer like what is always happening bitcoin manage to appreciate.
First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day. But is it really good for future of BTC?
As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
Yes its actually very good fot the btc holders.As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
See until 13th ov nov price will set new records every day.
And more importantly this price rise always set the support level to higher grounds.
That ensures market fall is difficult from that high.
It will really be good if you are holding a lot of bitcoin now from the time you buy it on low value . And it also depends on the market because we all know is highly volatile and no one can control how its value goes. Thats why be responsible on your own investment.
i think it depend on how many people use bitcoin ! the more people the more unstable . and who ever start his business using bitcoin i think they knew since the beginning that BTC is not stable and they knew the risks .
So i think they gonna adapte
So i think they gonna adapte
Bitcoin can be a currency is some point if you will convert it immediately to fiat,but the main issue is the confirmatins the waiting time right now is too high
I feel it is neither and a neutral situation for BTC moving forward. Obviously it is not good because it is created artificially and likely will come back down but obviously it is not bad because a price increase is what BTC holder
want. That is why I feel neutral about this rise as it is going to go up then come down then find a more relative and stable price point in the 5-6k range. Time will tell though, I could be way off base.
want. That is why I feel neutral about this rise as it is going to go up then come down then find a more relative and stable price point in the 5-6k range. Time will tell though, I could be way off base.
The price fluctuation is made by the whales, the people who do trading to make a profit out from bitcoin. They have big quantity of bitcoin and for them is easy to manipulate the market. They will sell soon and soon after the sell we will see a fall in the price of bitcoin as we have seen many times. So for the moment I believe the sudden price rise is good for people to make profit, only holders can make a profit.
The fluctuation in price is the nature of bitcoin so anyone that is ready to accept bitcoin for any business have to bare that in mind. The price of bitcoin do not have to be stable like fiat currency.
I don't think it's a problem. This kind of growth is natural in the tech industry. Just look at historical data of how some tech firms developed before they went mainstream, and you'll see similar movements.
Regulators could pose a very real risk to cryptocurrencies though. We already see people slamming Bitcoin in the mainstream news quite regularly nowadays and it will all depend on how people react to it.
Regulators could pose a very real risk to cryptocurrencies though. We already see people slamming Bitcoin in the mainstream news quite regularly nowadays and it will all depend on how people react to it.
I think from an investors point of view it's good but it may not be convenient for the businesses to alter prices so frequently for their products which can be purchased with bitcoin but again it's going to be like this for long. I think there will be a time when bitcoin prices won't be so volatile but that may be after a very long time and only then it won't be a problem for the businesses to use bitcoin and then bitcoin will actually serve more as a currency than a store of value but presently nobody can stop bitcoin prices from going up.
Bitcoin is not a currency, It just an asset like gold. With BTC volatility, its impossible to use BTC as a currency and we use fiat for that. I think for solving the problem only one of Bitcoin and fiat must exist. It is impossible to control both values simultaneously.
Bitcoin may continue to go up, but also could crash. Anyways this sudden price rise is not just good for btc, it's amazing.
Such insight! You need to start a fortune telling career!
To answer the question, I think it's a good thing. Prices like that bring media attention to cryptocurrencies and media attention equals free advertising. Since BTC isn't financed by a company or an organization nobody promotes it, it needs to promote itself.
Nothing is suddenly at all, i think maybe the news that Bitcoin was accepted by the Amazon's system make the price's Bitcoin is going up like crazy. People are all over the world knew that Bitcoin gonna be something that very big. So big amount buyers will lead the rising price.
Yes. It's very good for bitcoin. Bitcoin will eventually crash most likely though.
Bitcoin may continue to go up, but also could crash. Anyways this sudden price rise is not just good for btc, it's amazing.
it's a good question , because bitcoin will not continue to up only , but will dump sometime , so when bitcoin and to where will dump ? , hard to answer .
First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day. But is it really good for future of BTC?
As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
I think it's not a bad thing. Knowing that there'll be a hardfork on this month, I expected backdrops on its market price. My expectations became wrong because as we can see its market value is continuously kncreasing, breaking barriers of 7000$ and is now closed in 8000$. I think it is an advantage since after the fork its value believed to be more expensive. And as is value increase, bigger profit lp be to its users and investors. As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
First of I am a BTC HODLER and I am happy it is breaking it's ATH every other day. But is it really good for future of BTC?
As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
As a currency and day to to day usage BTC price needs to be stable. For regular market to adopt this as a currency the price needs to to stable. Is it not? If BTC fluctuates so much within just few days how can some business adopt this? For example if they fix a price for a product for $400 equivalent to btc then tomorrow the price can be $600 or $200. Will this sudden price rise/ drop not affect the market adoption?
What you guys think about this?
First off, there is no such thing as a stable price, bitcoin price fluctuates like every minutes or every hour. That's how the market works, supply and demand, when more people demanded bitcoin the price will go up. Of course its really good for the future because the price continue to rise, but at some point bitcoin will suddenly face a wall, the price will drop and we don't know when will it happen. That's why you need not to be emotional so that you can make proper decision on whether to sell some of your bitcoin or just continue to hodl specially when the price is going down fast.
Even if it go over $100k it is not a bad thing, a high price only affects when people reacts at it but in bitcoin they don't deny no matter how much the price is. Price is not a thing to consider whether the price is too high or too cheap it doesn't matter as long as the function of it is being establish well. It is okay even it goes up and up because as long as the demand is still consistent there would be no effect at all.
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