Why Bitcoin is not a bubble! - page 4.

zhekinsp

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Quote from: adamlillian on October 03, 2019, 12:33:02 PM

Quote from: zhekinsp on October 03, 2019, 05:29:48 AM

People who cannot understand the idea of introduction of decentralized payment system still saying it as bubble but the fact is bitcoin keeps raising after a fall that we could imagined that it will bump again so bitcoin got its own way of adopting to the economic system for that people will take time to understand.

So according to you,Is there decentralized will be no bubble? while the crypto market at ATH is over $ 1000 billion. That's a huge number and it only took 3 months for Bitcoin to grow to $ 20k. Isn't that a bubble? So please explain to me the difference between dot-com and the growth of bitcoin?

Price fell from 20K to 3K but now the price manages to reach upto 13k ut again it is under 8500 which is not a bubble though.

Once the bubble burst then it will be nothing..! Cheesy

lab rat hoax

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I'm really laughing at people who say Bitcoin is a ballon. Because to be able to call an asset a balloon, it must be hollow, it must show an extraordinary rise in a short term but bitcoin is not something like that. Bitcoin is a crypto coin with a 10-year foundation. People who call Bitcoin is balloon will soon learn this truth better

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Bitcoin has at different points reached unrealistic and unsustainable prices over the years, and it usually dropped back after a short while to support levels that can be sustained. Some believe the price is tied to cost of mining and other believe it's fully based in demand and supply factors.
This unsustainable peaks could be likened to a price bubble, underlying product has a value which is rising with time.

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Quote from: zhekinsp on October 03, 2019, 05:29:48 AM

People who cannot understand the idea of introduction of decentralized payment system still saying it as bubble but the fact is bitcoin keeps raising after a fall that we could imagined that it will bump again so bitcoin got its own way of adopting to the economic system for that people will take time to understand.

So according to you,Is there decentralized will be no bubble? while the crypto market at ATH is over $ 1000 billion. That's a huge number and it only took 3 months for Bitcoin to grow to $ 20k. Isn't that a bubble? So please explain to me the difference between dot-com and the growth of bitcoin?

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Let bitcoin will remain a bubble for the skeptics.
In their opinion it is better to keep everything in banks that increase their income.
But they forget about the world crises and hyperinflation which turns money into real pieces of paper.
A bitcoin has no inflation and is only growing every day.
Perhaps someday they will remember the moments when it was worth investing in bitcoin.

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Quote from: teosanru on October 03, 2019, 05:41:20 AM

Quote from: zhekinsp on October 03, 2019, 05:29:48 AM

People who cannot understand the idea of introduction of decentralized payment system still saying it as bubble but the fact is bitcoin keeps raising after a fall that we could imagined that it will bump again so bitcoin got its own way of adopting to the economic system for that people will take time to understand.

Rightly said, people don't realize the intrinsic value of BTC due to which it was at a sudden surge. I agree that $19K was an overbloated price for any digital currency at time. But with advent of time bitcoin has shown that it is still useful which means it can be used as a mainstream method of settlement after some improvements.

People even say bitcoin doesn't got any intrinsic value which clearly shows that they didn't understand how bitcoin was made.

Even some economists saying that bitcoin can be made out of thin air so people who want to invest on bitcoin will face losses.After seeing those article I can't be able to control my laugh.

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A simple explanation for what you have shown in the graph is as follows :

Bitcoin started slowly prior to 2017 and then ICOs came on the scene and people started aggressively marketing ICO's on large Social media platforms. Most of the tokens used for these ICOs were converted to BTC to be usable on a established BTC merchant network. So at the height of these ICOs, Bitcoin was doing well... because people made a profit and converted it to Bitcoin BTC to use it.

Then scammers realized they can use ICOs to scam people and the victims of these scam ICO's started to complain and this resulted in a blanket ban on Crypto currencies marketing and a sudden decline in the Bitcoin and ICO prices. Angry

Now ICOs are more regulated and Bitcoin is still recovering after the bad reputation it received for the nonsense that was done with scam ICOs.

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Bitcoin is termed to be a bubble based on very few reasons.

Based on the bubble that happened with dot com and other similar schemes
These predictions over bitcoin were made perfectly based on past references
The growth happened with bitcoin in a very short time period
Lack of proper understanding about technology and the way the value moves

However until the growth that took place over 2017 it wasn't mentioned a bubble.
Experiencing such a massive growth critics came stating it as a bubble.

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Quote from: Theb on October 03, 2019, 10:03:33 AM

Even though we aren't looking at the charts and the physical aspects only you will see that Bitcoin is no bubble. The fact the companies and (most) governments from each countries are preparing for mass adoption alone is a clear statement that the demand for cryptocurrency is only just starting and this is not a kind of hype just because we are only seeing price punps and dips this big. Aside from mass adoption you will see that the crypto industry itself is getting bigger and bigger not only through new projects launching ICOs but other businesses or establishments entering the market to have their own crypto related businesses.

I don't know which world do you live in because I know only a handful(5-6) of small governments who have actually legalized Cryptocurrencies and are doing something for its adoption. Unlike your "most government" theory i think most government are planning to ban or put restrictions over the use of bitcoin. Moreover coming to companies, everyday you see a new company accepting bitcoin as a means of payment the next day you hear another company dropping it as a means of payment. So I don't think that is any good currently.

Quote from: Oilacris on October 03, 2019, 09:49:38 AM

We are talking once again for this topic which had been beaten to death for how many times already. Bitcoin is a bubble, Bitcoin is a Ponzi scheme etc.

These critics would exist no matter what but for us (Bitcoin believers) would definitely oppose these kind of criticism yet weve been here on this market for how many
years and btc had proven out that it isn't the same for those stocks and other futures that slumped down to the death or almost on the ground.

Critiques actually had all the reasons to doubt btc looking at it's comparison chart with almost all bubble charts until last year so I don't blame them however this representation of bitcoin as of now should change most of the people's idea of bitcoin as a bubble.

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Even though we aren't looking at the charts and the physical aspects only you will see that Bitcoin is no bubble. The fact the companies and (most) governments from each countries are preparing for mass adoption alone is a clear statement that the demand for cryptocurrency is only just starting and this is not a kind of hype just because we are only seeing price punps and dips this big. Aside from mass adoption you will see that the crypto industry itself is getting bigger and bigger not only through new projects launching ICOs but other businesses or establishments entering the market to have their own crypto related businesses.

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We are talking once again for this topic which had been beaten to death for how many times already. Bitcoin is a bubble, Bitcoin is a Ponzi scheme etc.

These critics would exist no matter what but for us (Bitcoin believers) would definitely oppose these kind of criticism yet weve been here on this market for how many
years and btc had proven out that it isn't the same for those stocks and other futures that slumped down to the death or almost on the ground.

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Bubble is not the right term for high rate volatility mates, bubble is something that will pop out when it reaches the maximum limit far from what really the bitcoin. What a bubble should like is the ponzi schemes and bitcoin doubler websites that will pay you at first but when they reaches the target pool fund they will pop out and disappear. We have been dealing with cryptocurrency for over a decade, especially the bitcoin and we have seen it recognized by the world isn't that enough?

error08

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For bitcoin users we aware of this, but when the price crashed from $20,000 to $3K gradually, it seems like the bubbles have burst or we can say corrections or the bear has taken control of the market for several months. Although bitcoin isn't a bubble, the volatility can't be helped at this point, susceptible to manipulation, especially when bitcoin futures introduced to the market, whoever has millions of dollars can do it. Bitcoin is a bubble or not isn't important, the adoption is the most important to gain more liquidity against manipulation.

teosanru

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Quote from: Wexnident on October 03, 2019, 07:37:54 AM

People don't look at charts and just believe famous people about what bitcoin is and what are its current circumstances and that is why they are led astray by it. Bitcoin ain't a bubble, or at least it has passed that phase and is steadily accumulating more and more reputation as a proper and trustworthy coin to invest in. People rarely realize that bitcoin has held its own after the said bubble period and has started to once again rise above its mean. Trust Bitcoin.

Actually people don't look at chart before making any comment but the famous experts you are talking about do look them before making such comments and at one time it did followed the trend of any normal bubble but not anymore. Moreover if somehow btc gets a bull run people will definitely trust it because it has grown up once again from rock bottom.

Quote from: boltz on October 03, 2019, 08:08:00 AM

We all trust bitcoin and blockchain but I still believe we still away from bitcoin not being a bubble as its still act like one. I love your graphs because you did some deep research on some but the volatility of bitcoin tell us we might be at the end of the bubble or this starts the end of the bubble which will ocurre after the next bull run ?
Nasdaq is not even closer to what bitcoin potential can be so that chart has good info when it comes to price direction and evolution but Bitcoin is way above Nasdaq or any other bubble that happen before. Also if bitcoin will be a bubble until the end then all our dreams will be in vain and a lot of people will go bankrupt and I highly doubt this will be the case.

Actually the thing is there are two types of bubbles one is a bubble which is completely empty without anything good out of it and once it bursts we hit the level zero like the tulip bubble but in case of housing bubble when it burst prices didn't went to zero they actually went to the mean level. So i think btc is somewhat of this type even if the bubble bursts we are just going to the mean price and definitely not to zero because blockchain does have a lot of utility. I agree Bitcoin is way above nasdaq or anything but gravity has a potential to pull everything down Cheesy

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Quote from: Strongkored on October 03, 2019, 04:26:39 AM

When I read this, I remember when 2017 BTC was booming because the price went up, there was a political observer in my country who likened BTC to Tulips so he said that BTC was a bubble

Bitcoin was in a bubble in 2017, and at the time there was a big debate on the forum as to whether that was true. Despite op's chart, a bubble can take different forms. In 2017 there was a mania for bitcoin and other cryptos that led to escalating prices, more buying, and hence ever escalating prices. And then something popped it. What that something is I dont know but it happened.

And the crash was dramatic, just like with other bubbles. Bitcoin went from $20,000 to $3000 in a very short time and if that wasn't a bubble I dont know what is.

It isn't in a bubble now, tho. As far as I can tell its in some sort of recovery phase where traders don't really know what to think, since the price has been waffling up and down for months since being at the 'bubble pop' low of $3000. So that's a positive thing in my opinion. Slowly increasing prices are fine but bubbles are very bad. Hopefully we wont see another one with bitcoin again, but I'm not holding my breath.

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We all trust bitcoin and blockchain but I still believe we still away from bitcoin not being a bubble as its still act like one. I love your graphs because you did some deep research on some but the volatility of bitcoin tell us we might be at the end of the bubble or this starts the end of the bubble which will ocurre after the next bull run ?
Nasdaq is not even closer to what bitcoin potential can be so that chart has good info when it comes to price direction and evolution but Bitcoin is way above Nasdaq or any other bubble that happen before. Also if bitcoin will be a bubble until the end then all our dreams will be in vain and a lot of people will go bankrupt and I highly doubt this will be the case.

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People don't look at charts and just believe famous people about what bitcoin is and what are its current circumstances and that is why they are led astray by it. Bitcoin ain't a bubble, or at least it has passed that phase and is steadily accumulating more and more reputation as a proper and trustworthy coin to invest in. People rarely realize that bitcoin has held its own after the said bubble period and has started to once again rise above its mean. Trust Bitcoin.

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Quote from: Strongkored on October 03, 2019, 04:26:39 AM

When I read this, I remember when 2017 BTC was booming because the price went up, there was a political observer in my country who likened BTC to Tulips so he said that BTC was a bubble, when I read his review I just laughed and told my friend not to care about his statement because he could have said that cause panic in order to buy BTC cheaply or he missed the train.
Your review has answered why BTC is not a bubble because the BTC pattern is different from Tulip or some of what you have mentioned.
We will hear again that BTC is a bubble when it passes through halving in 2020, and again that people who say that BTC is bubble because he sees the current price graph not a whole price history.

Yes exactly this is the problem with human nature I think. We have been an investor of a market which moves at a steady speed which is always 5-6% over the rate of inflation. For people 20% CAGR in market is too much. and anything which gives a higher return than that is definitely a bubble. So definitely people are wrong when they say BTC is nothing but a bubble because a bubble is not used to make secure and decentralized transactions over the globe.

Quote from: zhekinsp on October 03, 2019, 05:29:48 AM

People who cannot understand the idea of introduction of decentralized payment system still saying it as bubble but the fact is bitcoin keeps raising after a fall that we could imagined that it will bump again so bitcoin got its own way of adopting to the economic system for that people will take time to understand.

Rightly said, people don't realize the intrinsic value of BTC due to which it was at a sudden surge. I agree that $19K was an overbloated price for any digital currency at time. But with advent of time bitcoin has shown that it is still useful which means it can be used as a mainstream method of settlement after some improvements.

zhekinsp

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People who cannot understand the idea of introduction of decentralized payment system still saying it as bubble but the fact is bitcoin keeps raising after a fall that we could imagined that it will bump again so bitcoin got its own way of adopting to the economic system for that people will take time to understand.

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When I read this, I remember when 2017 BTC was booming because the price went up, there was a political observer in my country who likened BTC to Tulips so he said that BTC was a bubble, when I read his review I just laughed and told my friend not to care about his statement because he could have said that cause panic in order to buy BTC cheaply or he missed the train.
Your review has answered why BTC is not a bubble because the BTC pattern is different from Tulip or some of what you have mentioned.
We will hear again that BTC is a bubble when it passes through halving in 2020, and again that people who say that BTC is bubble because he sees the current price graph not a whole price history.

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