Well the forbes magazine is not like bitcoin enthusiastic. Maby this is true but I believe it is just the everyday punch which bitcoin gets from people who earn their money with fiat (banks).
Furthermore if you don´t depend on the money right now and are a HODLer, after each bubble in BTC the price has gone up again. My opinion is those few early bubbles were pump&dumps coordinated by whales, which is now much harder due to the high market cap
Topic: The Bitcoin Bubble Will Turn Into Mania Before It Bursts (Read 1462 times)
the word "bubble" is reserved for the typical american stock exchange gamblers blowing everything into dispoportional speculation as usual. We the bitcoiners or all coiners together do not even reach a 0,01% of market potential and capitalisation facing a 10 trillion world trade volumen anually. The way the bitcoin structure grows into the user markets we still have 25 years heavy growth coming up and if everyody would fight Fiat system rather than begging for legalization into a toxic system (to become toxic ourselves) we have done more fo this world than anybodyelse.
This might well be true, but it is very difficult to time the market.
How do you time the market? If Bitcoin is rising rapidly, people may be tempted to book profits even before it reaches 'mania' level.
On the other hand, you might sit on it for too long and the bubble might burst....
By the way it is described in the article a mania is nothing more than a super bubble, this means the bubbles we have experimented are going to come short to what we are going to see, the only way to not miss it is to be a long term holder and to have a target price, some people have speculated prices as high as a million for bitcoin, while that is unrealistic, there is no doubt that in a mania we will see ridiculous prices. How do you time the market? If Bitcoin is rising rapidly, people may be tempted to book profits even before it reaches 'mania' level.
On the other hand, you might sit on it for too long and the bubble might burst....
Isn't the market already in a state of 'mania' now, and has recently been correcting itself lately? The mania in Ethereum too has also been correcting itself.
We never know, the whales may have been already starting to unload causing the correction.
We never know, the whales may have been already starting to unload causing the correction.
The forbes article at least has a logic behind it the price has risen a lot and some is fundamentals but how much is that versus just rally.
At least its better than some other forbe articles that wrote Bitcoin was dead... their other constant theme, the author here has some idea of what he is talking about based on what has happened in the past to other assets.
Corrections do happen but the technology and utility is there aka blockchain and crypto is not dead and it will grow in time but that doesn't mean the path is straight there can be dips and bumps on that road and pops do happen and when they do it can be a long wait till the next rise.
He-he on a sidenote back in the time machine dead at 15.15 a coin so ya forbes take with a serious grain of salt
https://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/#17cc7b865d71
https://99bitcoins.com/so-thats-the-end-of-bitcoin-then/
At least its better than some other forbe articles that wrote Bitcoin was dead... their other constant theme, the author here has some idea of what he is talking about based on what has happened in the past to other assets.
Corrections do happen but the technology and utility is there aka blockchain and crypto is not dead and it will grow in time but that doesn't mean the path is straight there can be dips and bumps on that road and pops do happen and when they do it can be a long wait till the next rise.
He-he on a sidenote back in the time machine dead at 15.15 a coin so ya forbes take with a serious grain of salt
https://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/#17cc7b865d71
https://99bitcoins.com/so-thats-the-end-of-bitcoin-then/
Lol we are definitely NOT in a bubble.
I can't tell if the article is saying good things about bitcoin or bad things? whether I should cry or laugh? but I'm ready to become a nymphomaniac 
Do the opposite of whatever CNBC says. If Cramer says Bitcoin is going to $1 million each, dump everything immediately.
For real? So I have been fooled by those good articles that coming out. Well it's sort of attracting new investors to come in to bitcoin. But when it comes to bubble, I don't believe that we are in a bubble. This is a legit growth of bitcoin as new countries stated their adoption and legalization about bitcoin and it's transactions.
i think the alts have become bitcoin's mania side chain. it's new form of behavior. i don't know how it'll impact on bitcoin
In fact, the impact is already known
There were quite a few coins already that first got massively pumped and later heavily dumped (then basically left for dead). And Bitcoin in all of these cases played the same role as gold is playing in respect to fiat currencies. So when a mania for some altcoin is over, people (those who didn't lose all after the crash phase of the bubble life cycle, obviously) move their monetary wealth to Bitcoin. Though that doesn't of course mean that Bitcoin is like real gold, it can still crash like altcoins crash from time to time
I don't think that we have reached the "mania" level yet. The current price of $2600 for me doesn't look like a bubble waiting to be burst. If we double the current price in the next couple of months then I think its a bubble, but for the last months of so the price increase looks like natural to me. Plus we are not even adopted globally, hence there is no mania.
Lots of speculators have poured into alts. But it still isn't a mania levels - people have to start using the alts and bitcoin before we get to that stage.
since when did actually using anything contribute to mania?
if that is the requirement then we're another 2-3 significant legs up and several years away.
i think the alts have become bitcoin's mania side chain. it's new form of behavior. i don't know how it'll impact on bitcoin.
Lots of speculators have poured into alts. But it still isn't a mania levels - people have to start using the alts and bitcoin before we get to that stage.
So I have always thought. Until Ethereum stole our mania phase and cut our bubble unduly short.
sounds plausible to me. never thought about it like this. i hate it. still plausible, though.
blitz, you think it will be multiyear downtrend or is there a chance it moves like it did after $260 peak in 2013?
And yes, I hate it as well. I'm very angry at the irrational miners who allowed the scaling stalemate to continue for so long that it's damaged Bitcoin's valuation severely.
So I have always thought. Until Ethereum stole our mania phase and cut our bubble unduly short.
sounds plausible to me. never thought about it like this. i hate it. still plausible, though.
blitz, you think it will be multiyear downtrend or is there a chance it moves like it did after $260 peak in 2013?
So I have always thought. Until Ethereum stole our mania phase and cut our bubble unduly short.
You could easily argue that it's current price is the "mania" before the bubble bursts. It has increased over 100% since the start of the year and it did the same thing during last year. I'd love to see it keep going up, but many people get too greedy and keep buying at the top of the market - then get crushed when it drops.
100% growth in Bitcoin is no bubble!!
Check the previous bubbles (2011,2012,2013)!
Then you know what growth in Bitcoin is usual to speak about a bubble!
If we reach $5000 in the next 2 months I will agree with being in a bubble which sooner or later is going to pop.
But how do we really know we are in a bubble if it has not popped yet? What have we learned from the bubbles of the past to find a way to avoid them? Nothing. All we know is bubbles keep forming and then it pops, and the cycle repeats itself once again, leaving the greatest fools holding the bag last.
i think the alts have become bitcoin's mania side chain. it's new form of behavior. i don't know how it'll impact on bitcoin.
He has good points about bitcoin and its bubbly growth. We are basically sure that bitcoin will slow down and even lose value. But is it in a bubble? If its, how big is that bubble. Noone can be sure of it.
I personally feel that bitcoin price might go down like -%50. But it has opposite chance as well, especially before halving in 2020.
I personally feel that bitcoin price might go down like -%50. But it has opposite chance as well, especially before halving in 2020.
Do the opposite of whatever CNBC says. If Cramer says Bitcoin is going to $1 million each, dump everything immediately.
100% growth in Bitcoin is no bubble!!
Check the previous bubbles (2011,2012,2013)!
Then you know what growth in Bitcoin is usual to speak about a bubble!
If we reach $5000 in the next 2 months I will agree with being in a bubble which sooner or later is going to pop.
Check the previous bubbles (2011,2012,2013)!
Then you know what growth in Bitcoin is usual to speak about a bubble!
If we reach $5000 in the next 2 months I will agree with being in a bubble which sooner or later is going to pop.
I'm well aware of the previous growth of bitcoin. There is a big difference between growing 1000% from $10 to $100 per bitcoin, than $750 to $1,500. Too many people get greedy, have unrealistic expectations and will lose money just like when it crashed in 2014 from $1,000 to $400. Good luck with the hype.
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