Topic: This peak is not the 2013 top! Still more to go (Read 538 times)
99% of all the theories we've seen go around here are meaningless. This market is in no shape or form comparable to how the market back in the days was operating. Currently we're dealing with a constant flow of money being pumped into Bitcoin, and it doesn't look like it will stop any time soon. The previous years have been somewhat of a learning experience for people, in the way that if they sell their coins, they will regret it, and if they don't buy Bitcoin, they will regret it too. All this gives people incentive to keep holding on to their coins. I have never seen a higher level of willingness of people to hold their coins than in this year. Sure, there is profit taking going on, but the dips this results in are being bought up quicker than ever before.
Why do you think that there is some sort of system in bitcoin. Its price grows depending on the demand. This demand is nonlinear. In addition, the higher the price of the coin the lower the price increase in the percent growth of prices in dollars. The limit of price growth is limited by the quantity of dollars that people are willing to invest in bitcoin.
I have never think it in this way and never analysis price movement based on percentage. 4000% different is a very high lift between 2013 from January 2013 to December 2017 and January 2017 to December 2017. I believe why every body is say bitcoin has outperform more in 3017 than every other years is because of how it has become known in 2017 than every other years.
Suppose that Bitcoin will start is race now. In 2018 we will see its new records, close to 20 and maybe even 30 thousand.
nope,
it does not move that way my friend,
we need to stabilize ourself before make another move just like before,
if we keep moving upward like before,2018 may be the last year we see this kind of move.
because it will only become a bubble and slowly many people will lose their faith on it.
at best we will only moving upward until Q1 2018 and then moving downward trying to find its place and support.
until now every altcoin get pressured by the whales which mean next year we should make another move for altcoin.
well everything can be happen with it,all that we need to know right now is to use this opportunity as much as we can to gain a lot of profit.
do not let your emotion take a control and always bear it in your mind that we made a huge move this year and we may be can see a huge down later on.
Suppose that Bitcoin will start is race now. In 2018 we will see its new records, close to 20 and maybe even 30 thousand.
as long as bitcoin is still used, we will not know which peak is best. even today is the best peak ever. but we do not know whether 2018 will be better or not. but I think 2018 will give the same.
from Jan 2013 to Dec 2013 bitcoin rose more than 5000%
but now from Jan 2017 to Dec 2017 it is just 1100%
so at a 5000% increase from Jan 2017 it is close to 40000$
so this 10000+ is just the small rise that resembles 100$ that happened back in April 2013.
but now from Jan 2017 to Dec 2017 it is just 1100%
so at a 5000% increase from Jan 2017 it is close to 40000$
so this 10000+ is just the small rise that resembles 100$ that happened back in April 2013.
I don't think that it is fair to compare bitcoin's current rally to the 2013 rally because of obvious reasons. First of all it stretched out for a longer period of time(obviously) and institutional investors are actually greatly interested in BTC this time round.
But this rally is far from over, in my opinion and even in some bitcoin bear's opinions.
Though $40k may be a bit too high, i'd say easily $20k-$25k before an adjustment though.
for some weird reason people love to compare 2013 with this year just because price went up high! but in fact there is nothing similar to that year!
back in 2013 there were only people who were mining and dumping bitcoin. there were no adoption, no Japan accepting bitcoin as a legal currency, no Australia with 0 tax on bitcoin, no US with futures market, .... it was just Mt Gox controlling nearly all the market (80% or so) and then pumping the price up as much as it could before running away.
Correct, things are very different than what happened back then, but what it happens is that people have a reductionist view of what happened and they fail to see the circumstances in which all of that happened, also bitcoin got segwit activated and we are getting the lightning network in the next year, so there are many factors for the recent growth in price.back in 2013 there were only people who were mining and dumping bitcoin. there were no adoption, no Japan accepting bitcoin as a legal currency, no Australia with 0 tax on bitcoin, no US with futures market, .... it was just Mt Gox controlling nearly all the market (80% or so) and then pumping the price up as much as it could before running away.
it is these supporting factors that make bitcoin dominate the investment market of crypto currency
maybe for next year the price will be more surprising again,
or maybe there will be altcoin that will be able to match it
or by coins created from hard forks
We can even more higher if people will not be panic for certain dump happen and if we think how valuable of bitcoin is I truly believe that we can even surpass for this current break out price level for bitcoins.
for some weird reason people love to compare 2013 with this year just because price went up high! but in fact there is nothing similar to that year!
back in 2013 there were only people who were mining and dumping bitcoin. there were no adoption, no Japan accepting bitcoin as a legal currency, no Australia with 0 tax on bitcoin, no US with futures market, .... it was just Mt Gox controlling nearly all the market (80% or so) and then pumping the price up as much as it could before running away.
Correct, things are very different than what happened back then, but what it happens is that people have a reductionist view of what happened and they fail to see the circumstances in which all of that happened, also bitcoin got segwit activated and we are getting the lightning network in the next year, so there are many factors for the recent growth in price. back in 2013 there were only people who were mining and dumping bitcoin. there were no adoption, no Japan accepting bitcoin as a legal currency, no Australia with 0 tax on bitcoin, no US with futures market, .... it was just Mt Gox controlling nearly all the market (80% or so) and then pumping the price up as much as it could before running away.
for some weird reason people love to compare 2013 with this year just because price went up high! but in fact there is nothing similar to that year!
It is easy, it does not even need an answer, NEWBIES
If there is still people who thinks that "everything that is happening is connected to 2013" then why dont you leave the forum? this is not for that kind of people.
If you are still a newbie and you saw that the price dropped $500, it does not means that the price is gonna crash, hell, no, i am tired of seeing that kind of people once, and once again.
It is like a robot, they are always repeating the same bullshit.
Why do you think it is in a bubble?
Because:-The price has risen extremely dramatically since the start of the year, with an increase from approximately $1,000 to over $10,000.
-This price increase is not backed by the merchant adoption that BTC users previously focused on - rather, BTC is being touted as a "store of value". This is fine in itself, but without functioning well as a currency as well, the "store of value" aspect is primarily kept alive by first mover advantage, which doesn't tend to last forever.
-Traders in many crypto-related spaces have become euphoric and are assuming that the price will continue rising exponentially, which is a dangerous assumption to have in such a risky asset. This is very common during speculative bubbles.
It's only in a bubble if you think the technology will fail.
I disagree. BTC is still relatively early in its development phase and has a long way to go. I don't think that it'll fail, but I don't think that more speculators are going to make it any better. People are finding arbitrary comparisons over and over again just to suit them.
If the BTC ever passes that point, you'll find some other arbitrary comparison to try and claim that the BTC price should get higher than it already is - the reality is that in (likely) bubbles, the price is not rational and it doesn't have to stick to or follow specific percentages.
That's the case all the time, but it's even less predictable in a bubble. If you've bought in late, at least justify it properly.
If the BTC ever passes that point, you'll find some other arbitrary comparison to try and claim that the BTC price should get higher than it already is - the reality is that in (likely) bubbles, the price is not rational and it doesn't have to stick to or follow specific percentages.
That's the case all the time, but it's even less predictable in a bubble. If you've bought in late, at least justify it properly.
Why do you think it is in a bubble?
It's only in a bubble if you think the technology will fail. If bitcoin succeeds, then we're still near the base of the rise.
People are finding arbitrary comparisons over and over again just to suit them.
If the BTC ever passes that point, you'll find some other arbitrary comparison to try and claim that the BTC price should get higher than it already is - the reality is that in (likely) bubbles, the price is not rational and it doesn't have to stick to or follow specific percentages.
That's the case all the time, but it's even less predictable in a bubble. If you've bought in late, at least justify it properly.
If the BTC ever passes that point, you'll find some other arbitrary comparison to try and claim that the BTC price should get higher than it already is - the reality is that in (likely) bubbles, the price is not rational and it doesn't have to stick to or follow specific percentages.
That's the case all the time, but it's even less predictable in a bubble. If you've bought in late, at least justify it properly.
- Current growth backed by what? Over speculation from newbie investors + fork mania
- What is keeping price high? Whales are bullish with bitcoin and they can hold it for really long time before dumping it hard
- What is good entry point? If you can make early exit in any catastrophic event in future than any price can be good entry point for bitcoin
In conclusion, there is still lots of room for bitcoin to grow because only few people know about bitcoin and even smaller % of them have bought bitcoin.
- What is keeping price high? Whales are bullish with bitcoin and they can hold it for really long time before dumping it hard
- What is good entry point? If you can make early exit in any catastrophic event in future than any price can be good entry point for bitcoin
In conclusion, there is still lots of room for bitcoin to grow because only few people know about bitcoin and even smaller % of them have bought bitcoin.
Thinking about things in terms of a peak is the wrong way to go about it. Bitcoin is just starting its journey to mass adoption now. This will continue over the next few years. There is no incoming peak after which the price will crash way back down. There are small peaks here and there every so often as we've seen all year. This will continue as adoption continues to rapidly increase, peaks and crashes all the way up. But not single big peak and then huge crash.
for some weird reason people love to compare 2013 with this year just because price went up high! but in fact there is nothing similar to that year!
back in 2013 there were only people who were mining and dumping bitcoin. there were no adoption, no Japan accepting bitcoin as a legal currency, no Australia with 0 tax on bitcoin, no US with futures market, .... it was just Mt Gox controlling nearly all the market (80% or so) and then pumping the price up as much as it could before running away.
back in 2013 there were only people who were mining and dumping bitcoin. there were no adoption, no Japan accepting bitcoin as a legal currency, no Australia with 0 tax on bitcoin, no US with futures market, .... it was just Mt Gox controlling nearly all the market (80% or so) and then pumping the price up as much as it could before running away.
the peak can not be calculated by those shitty calculation mate,
do you even understand something called 'growth' ?
it does not make any sense if you're using that thing so called 'percentage' or whatever.
because you will never find out the truth if you're using,
try to use some of your brain and do your own research,
do you even understand something called 'growth' ?
it does not make any sense if you're using that thing so called 'percentage' or whatever.
because you will never find out the truth if you're using,
try to use some of your brain and do your own research,
It is just a comparison. No need to get so much worked up over it. It puts thing in perspective.
I don't see too many people complaining when an early-stage compan's growth is plotted on a logarithmic scale.
What the OP is trying to say is that Bitcoin has had much bigger run ups previously.
I feel that the price of bitcoin will slowly gaining it will not the same as before that the circulating bitcoin are low and low demand.. unlike right now that it needs a large investment in order to see a large percentage increase in bitcoin..
the peak can not be calculated by those shitty calculation mate,
do you even understand something called 'growth' ?
it does not make any sense if you're using that thing so called 'percentage' or whatever.
because you will never find out the truth if you're using,
try to use some of your brain and do your own research,
do you even understand something called 'growth' ?
it does not make any sense if you're using that thing so called 'percentage' or whatever.
because you will never find out the truth if you're using,
try to use some of your brain and do your own research,
It is just a comparison. No need to get so much worked up over it. It puts thing in perspective.
I don't see too many people complaining when an early-stage compan's growth is plotted on a logarithmic scale.
What the OP is trying to say is that Bitcoin has had much bigger run ups previously.
the peak can not be calculated by those shitty calculation mate,
do you even understand something called 'growth' ?
it does not make any sense if you're using that thing so called 'percentage' or whatever.
because you will never find out the truth if you're using,
try to use some of your brain and do your own research,
do you even understand something called 'growth' ?
it does not make any sense if you're using that thing so called 'percentage' or whatever.
because you will never find out the truth if you're using,
try to use some of your brain and do your own research,
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