only people who want low-value bitcoin that make the statement bitcoin is a bubble.
but facts speak, bitcoin has existed for 10 years, and has become a strong foundation for the crypto world.
when bitcoin falls there must be a revival afterwards.
Topic: Why Bitcoin is not a bubble! (Read 548 times)
hm, if in the beginning it was a bubble, I mean in 2017 it is looking exactly like a bubble, then it should be a bubble.
but if it is so, I don't think this is bad, cause after hype ends the industry don't die. it will return to the natural state.
let's see how it goes further..
So you are expecting the bubble to burst ir having the faith on bitcoin it is not like other bubble were mentioned in OP.but if it is so, I don't think this is bad, cause after hype ends the industry don't die. it will return to the natural state.
let's see how it goes further..
Bitcoin hype will never end.
well, i personaly dont believe any statement with who says btc is bubble.
but well, according to some fact, since price has drop suddenly, mostly general people will think it bubble,
from 19k drop to 9k just about 2 month's. but they dont know what exactly happen, money loundrying, ICO , is happened on that time, and many magazine release that news but it seems people don't want to change their perception about btc.
Those who really understand bitcoin and crypto market, they are still supporting bitcoin and as bitcoin is showing some increase in value now, soon these guys are going to bag huge money. Those who are considering bitcoin bubble because of this dump, they should dollar as bubble as well because it also increase and decreases in value over the period of time. but well, according to some fact, since price has drop suddenly, mostly general people will think it bubble,
from 19k drop to 9k just about 2 month's. but they dont know what exactly happen, money loundrying, ICO , is happened on that time, and many magazine release that news but it seems people don't want to change their perception about btc.
It was to be expected, the reason for the creation of bitcoin will not come into play once we got more people willing to accept it but the idea behind bitcoin is so strong that while other projects could have disappeared immediately by failing their main mission, in the case of bitcoin being used as a currency with no third parties involved, bitcoin found another niche, it is a vehicle for speculation and one of the best since the profits you can get in this market are unparalleled.
Yes this is just the beginning as there is a long way to go when the real players joins the crypto as of now we have some big whales who controls the bitcoin market it seems like we are moving away from the reason why the bitcoin and crypto coins were created as now we look at it as a mere investment rather than utilizing it's primary functionality. Not sure how this will end and where it will lead bitcoin to, but one thing is sure that bitcoin will not die.
Whether Bitcoin was a bubble or a pyramid, the newcomers could not receive income from it, but they can.
Anyone who bought bitcoin today, tomorrow, probably will be able to sell it more expensive, thereby earning.
This is an honest system in which everyone is satisfied, because here everything depends on your entry point, and not on the people you attract.
Anyone who bought bitcoin today, tomorrow, probably will be able to sell it more expensive, thereby earning.
This is an honest system in which everyone is satisfied, because here everything depends on your entry point, and not on the people you attract.
What people do not understand about the word "bubble" is that, something needs to have zero value and then increase so much then burst and have zero value.
Just to give an example, the housing bubble of 2008 happened because there was too many mortgages all bonded together and normally there was a lot of mortgages that were given to people who were not paying their debt and eventually the house would have been seized but the economy is bad so bank would have to sell it for barely any profit or even sometimes loss and also would take huge amount of time.
Now, combine all of these mortgages that were barely making any profit for them and make thousands of them stuck to one paper and also bet on that paper as well selling it like it is a good thing because everyone pays their mortgages right? Well, eventually they didn't and bubble happened, when something doesn't have value but you pay for it anyway then it bursts, bitcoin does have a value, it is not like housing bubble at all.
Just to give an example, the housing bubble of 2008 happened because there was too many mortgages all bonded together and normally there was a lot of mortgages that were given to people who were not paying their debt and eventually the house would have been seized but the economy is bad so bank would have to sell it for barely any profit or even sometimes loss and also would take huge amount of time.
Now, combine all of these mortgages that were barely making any profit for them and make thousands of them stuck to one paper and also bet on that paper as well selling it like it is a good thing because everyone pays their mortgages right? Well, eventually they didn't and bubble happened, when something doesn't have value but you pay for it anyway then it bursts, bitcoin does have a value, it is not like housing bubble at all.
Sorry for crashing the party but let me say my very simplistic view: as long as there's a real-world need and use for bitcoin, it's not a bubble, it gets it's value not from numbers on an exchange but from the number of real users, especially business users, I know for a fact that a lot of local companies and factories in my country pay via bitcoin to avoid using banks, as long as those users exist, the bubble shall not burst
People know about bitcoin beleives that it is not a bubble but most of the people who are not aware about this decentralized coin with great technology follow the lead of others who just create rumours about btc being a bubble which will burst after a particular time.This thread has been remain debateable for many time the prices rise and fall in crypto market and when they reach at $20k in 2017 and then fall certainly people thought it was but then again it survived and prices rise for once.Btc is a major cryptocoin which will survive for a long time.
The reason why people are thinking of it as a bubble is because it have yet not achieved the price it had initially achieved in 2017-18 therefore they think it was a one time opportunity they missed and are blaming it on the volatility of Bitcoins , infact the idea is stabilization of the price that includes making it come down to a more natural value , something acceptable.
Bitcoin needs a lot of time and cooperation from its community before the price reaches the past all time high. The price of bitcoin is being driven by the demand and as what we see in the price of bitcoin, the demand is still not enough to push the price to $20,000 or more. We need more promotion for bitcoin so we can get some adaption from big players which has a wide variety of potential crypto users.
The reason why people are thinking of it as a bubble is because it have yet not achieved the price it had initially achieved in 2017-18 therefore they think it was a one time opportunity they missed and are blaming it on the volatility of Bitcoins , infact the idea is stabilization of the price that includes making it come down to a more natural value , something acceptable.
well, i personaly dont believe any statement with who says btc is bubble.
but well, according to some fact, since price has drop suddenly, mostly general people will think it bubble,
from 19k drop to 9k just about 2 month's. but they dont know what exactly happen, money loundrying, ICO , is happened on that time, and many magazine release that news but it seems people don't want to change their perception about btc.
Those who really understand bitcoin and crypto market, they are still supporting bitcoin and as bitcoin is showing some increase in value now, soon these guys are going to bag huge money. Those who are considering bitcoin bubble because of this dump, they should dollar as bubble as well because it also increase and decreases in value over the period of time. but well, according to some fact, since price has drop suddenly, mostly general people will think it bubble,
from 19k drop to 9k just about 2 month's. but they dont know what exactly happen, money loundrying, ICO , is happened on that time, and many magazine release that news but it seems people don't want to change their perception about btc.
Once the bubble pops it will never goes up again, Bitcoin has different character from that Tulip. I believe Bitcoin's value is demand driven although there are some instances that it is vulnerable to market manipulation resulting to the lost of most investors but naturally it is part of the game, however the adoption is still on the rise.
Bubble always goes to burst when there is so hype for any cryptocurrency it will be reach bubble as burst.
We need not invest on such currency even on the trading platform as a short term investment as well because it may goes to any direction at any time...
People say bitcoin is no longer becoming popular which mean the hype of it has reduced but yet, it is still growing in value and that also means that the bitcoin system is not a bubble because if it was, as they say the popularity has declined, and that it has also lost that too on twitter, the price ought to have drastically drop dead, but not, which means that what is keeping bitcoin value is the usefulness. We need not invest on such currency even on the trading platform as a short term investment as well because it may goes to any direction at any time...
People are really using this system for so many transactions against the fiat that I believe are even a bubble, the technology of bitcoin is really genuine and being used by various people for real operations and not just for investment and manipulation as people think. Adoption will gradually keep increasing, so as investment in the coin will keep increasing also even if it is slow but steady.
well, i personaly dont believe any statement with who says btc is bubble.
but well, according to some fact, since price has drop suddenly, mostly general people will think it bubble,
from 19k drop to 9k just about 2 month's. but they dont know what exactly happen, money loundrying, ICO , is happened on that time, and many magazine release that news but it seems people don't want to change their perception about btc.
but well, according to some fact, since price has drop suddenly, mostly general people will think it bubble,
from 19k drop to 9k just about 2 month's. but they dont know what exactly happen, money loundrying, ICO , is happened on that time, and many magazine release that news but it seems people don't want to change their perception about btc.
OP has put the graph that describes a bubble, if we see the Bitcoin graph, we can analyze it that has already fulfilled its fundamental phases: Accumulation and Distribution.
After the Distribution phase, we have been fulfilling the Accumulation phase almost entirely, a few months ago until today I think that an impulse can be generated to go to a bullish trend phase or a possible stage of Re-accumulation.
Until now, reviewing the degree of operations generated in the Bitcoin market, we could not think of a bubble, because there are many operations generated every day 24 hours, so a market like this cannot eliminate it, according to Malkiel Burton, author of "A random walk of Wall Street "can not eliminate the castles in the air of people, because it is a lot of money that the Strong Hands would stop winning, and taking into account that the adoption of today's Bitcoin is increasing, more organizations and countries want to participate With your own projects, it makes it less likely to be a bubble.
After the Distribution phase, we have been fulfilling the Accumulation phase almost entirely, a few months ago until today I think that an impulse can be generated to go to a bullish trend phase or a possible stage of Re-accumulation.
Until now, reviewing the degree of operations generated in the Bitcoin market, we could not think of a bubble, because there are many operations generated every day 24 hours, so a market like this cannot eliminate it, according to Malkiel Burton, author of "A random walk of Wall Street "can not eliminate the castles in the air of people, because it is a lot of money that the Strong Hands would stop winning, and taking into account that the adoption of today's Bitcoin is increasing, more organizations and countries want to participate With your own projects, it makes it less likely to be a bubble.
Compare the price of bitcoin now is low than last last year last 2017 there's a big bubble on bitcoin and many people are buying that time. So when bitcoin goes down many people also cry because of there big lost. So now many are holding bitcoin and waiting again for the price bubbles.
What if the future price of Bitcoin goes much higher than its ATH on 2017 and become stable all through out? Would you consider it a bubble? Bitcoin being a bubble or not is subjective depends on how we view it. As long as Bitcoin is gaining value, trading actively and have a huge demand from the market, we will never consider it as Bubble. Price of Bitcoin last 2017 can be considered bubble until it is broken by another Bitcoin price bubble.
Bitcoin :
Quote
bit·coin
/ˈbitˌkoin/
Learn to pronounce
nounTRADEMARK IN UK
a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.
"bitcoin has become a hot commodity among speculators"
/ˈbitˌkoin/
Learn to pronounce
nounTRADEMARK IN UK
a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.
"bitcoin has become a hot commodity among speculators"
Bubble:
Quote
Bubble (physics), a globule of one substance in another, usually gas in a liquid
Can't find Bitcoin on that bubble nor bubble on that Bitcoin.
Then why do we keep on saying Bitcoin is a bubble, why not say Bitcoin price is a bubble? 
Bubble always goes to burst when there is so hype for any cryptocurrency it will be reach bubble as burst.
We need not invest on such currency even on the trading platform as a short term investment as well because it may goes to any direction at any time...
We need not invest on such currency even on the trading platform as a short term investment as well because it may goes to any direction at any time...
There are too many bubble theorist that keeps on saying that bitcoin is just a bubble because of its price continuing to soar higher and higher, yes it was a "bubble" I guess, but then the bull's horn made it pop. "Bubble theories are only true if its useful, but it is not" according to the article I've read regarding about bitcoin that is not a bubble. Those people who are saying that it is just a bubble is just preventing you to buy it, if you believe them, then your mind will become bubble while witnessing the bitcoin's another bull run that will make another ATH price.
Compare the price of bitcoin now is low than last last year last 2017 there's a big bubble on bitcoin and many people are buying that time. So when bitcoin goes down many people also cry because of there big lost. So now many are holding bitcoin and waiting again for the price bubbles.
Yup agreed. If you notice the market capital of bitcoin it seems that there are so many people holding bitcoin and they are just waiting for the right time I guess or maybe some of them believes that bitcoin would be revolutionary. Bitcoin can be revolutionary but it requires time. Bitcoin is not a bubble for me. There were just some problems right now that needed to be fix in order for bitcoin upgraded in the next generation. I believe bitcoin can change everything. 
That pattern is called speculation pattern, for every dive there is a rising point. This is common for famous and useful cryptocurrencies, known and support by many. As bitcoin compared to bubble is a huge question why it didn't explode when it reaches a highest price in history and now sitting on its $8000 to $10000 average price. Bitcoin is already a thing a now, it is very impossible for it to say goodbye and be a memory. Mass adoption is on process, let us see if this topic will be ask out again.
I have to say, within speculation, this is the first time I've heard of speculation pattern;) When we say common, we only actually really have the past few years of history to say it. Maybe in another 10 years we can say it's not common if Bitcoin suddenly goes up and up and up and hardly ever down?
Anyway, Bitcoin did explode! It just didn't disappear and another bubble is rising. Normal for stocks, normal for other assets too:)
hm, if in the beginning it was a bubble, I mean in 2017 it is looking exactly like a bubble, then it should be a bubble.
but if it is so, I don't think this is bad, cause after hype ends the industry don't die. it will return to the natural state.
let's see how it goes further..
but if it is so, I don't think this is bad, cause after hype ends the industry don't die. it will return to the natural state.
let's see how it goes further..
Compare the price of bitcoin now is low than last last year last 2017 there's a big bubble on bitcoin and many people are buying that time. So when bitcoin goes down many people also cry because of there big lost. So now many are holding bitcoin and waiting again for the price bubbles.
Bitcoin is more of a currency than a store of value. It provides anonymous, transparent and fast payment mechanism. Right now, it is infancy stage where people are using it more as a speculative asset than using it for payments and transactions. With more acceptance globally where vendors start accepting it as a payment, its real use case will come in play. Plus, it will double as store of value because deflationary nature. Hence, demand will continue to exist.
It was to be expected, the reason for the creation of bitcoin will not come into play once we got more people willing to accept it but the idea behind bitcoin is so strong that while other projects could have disappeared immediately by failing their main mission, in the case of bitcoin being used as a currency with no third parties involved, bitcoin found another niche, it is a vehicle for speculation and one of the best since the profits you can get in this market are unparalleled.Yes this is just the beginning as there is a long way to go when the real players joins the crypto as of now we have some big whales who controls the bitcoin market it seems like we are moving away from the reason why the bitcoin and crypto coins were created as now we look at it as a mere investment rather than utilizing it's primary functionality. Not sure how this will end and where it will lead bitcoin to, but one thing is sure that bitcoin will not die.
Bitcoin is more of a currency than a store of value. It provides anonymous, transparent and fast payment mechanism. Right now, it is infancy stage where people are using it more as a speculative asset than using it for payments and transactions. With more acceptance globally where vendors start accepting it as a payment, its real use case will come in play. Plus, it will double as store of value because deflationary nature. Hence, demand will continue to exist.
It was to be expected, the reason for the creation of bitcoin will not come into play once we got more people willing to accept it but the idea behind bitcoin is so strong that while other projects could have disappeared immediately by failing their main mission, in the case of bitcoin being used as a currency with no third parties involved, bitcoin found another niche, it is a vehicle for speculation and one of the best since the profits you can get in this market are unparalleled. 
I think bitcoin can not be like a bubble because bitcoin price movements have currents like waves, which means the price of bitcoin when it falls must have a gradual pattern and not directly fall very deep.
That pattern is called speculation pattern, for every dive there is a rising point. This is common for famous and useful cryptocurrencies, known and support by many. As bitcoin compared to bubble is a huge question why it didn't explode when it reaches a highest price in history and now sitting on its $8000 to $10000 average price. Bitcoin is already a thing a now, it is very impossible for it to say goodbye and be a memory. Mass adoption is on process, let us see if this topic will be ask out again.
There were proofs and evidence and we have seen how Bitcoin has grown so far so I don't think it's right to doubt its capability. Every dip isn't an indication that it could be a bubble because one characteristic of the Bitcoin is being volatile. It still has a lot to do to make the future better. There will always be negative thoughts about Bitcoin but it will surely not affect it as a currency.
Bitcoin is more of a currency than a store of value. It provides anonymous, transparent and fast payment mechanism. Right now, it is infancy stage where people are using it more as a speculative asset than using it for payments and transactions. With more acceptance globally where vendors start accepting it as a payment, its real use case will come in play. Plus, it will double as store of value because deflationary nature. Hence, demand will continue to exist.
My opinion,
Price of Bitcoin is based on speculation.
That is don't have any intrinsic value.
The value is only known by digit, only tech user know it.
So i think that is a bubble!
I don't quite agree with you. Because if this is the reason even gold doesn't has any value after all its just a lustrous piece of metal. But what makes gold so expensive is it's limited supply and infinite demand. If we see in practical sense today it doesn't has that much of a utility as an ornament. So if we look towards the same thing Bitcoin too has an intrinsic value which is based upon the users who are operating in this currency. Price of Bitcoin is based on speculation.
That is don't have any intrinsic value.
The value is only known by digit, only tech user know it.
So i think that is a bubble!
There is a huge difference between paper money versus bitcoin and paper money versus bitcoin. Bitcoin is closer in many aspects to gold than fiat and that is why it is not thin money. Gold can be found on the ground for Christ sake, not anymore since most of the minable ones have been mined and now people are finding very tiny amounts of it but back in the day people literally found it on rivers.
Hence, why I think that bitcoin is closer to gold because right now people are mining 1800 of it but soon that will be 900 and then 450 and will get less and less and eventually will be over 20 million bitcoins which will make sure the selling from miners will go down.
Just because, you can mine it doesn't mean it is from thin air, you spend an effort for it, central banks print money with no effort at all, they just bring 180 billion dollars and give it to banks without any issue, bitcoin is not like that, nobody can print 1 billion dollar bitcoin right away, that doesn't exist.
But that makes it much more away from what it's founder created it to be. It was never created to replace gold Instead was created to replace fiat. Moreover, if it's like gold then I am afraid it could never be used as a mainstream currency.Hence, why I think that bitcoin is closer to gold because right now people are mining 1800 of it but soon that will be 900 and then 450 and will get less and less and eventually will be over 20 million bitcoins which will make sure the selling from miners will go down.
Just because, you can mine it doesn't mean it is from thin air, you spend an effort for it, central banks print money with no effort at all, they just bring 180 billion dollars and give it to banks without any issue, bitcoin is not like that, nobody can print 1 billion dollar bitcoin right away, that doesn't exist.
I think bitcoin can not be like a bubble because bitcoin price movements have currents like waves, which means the price of bitcoin when it falls must have a gradual pattern and not directly fall very deep.
My opinion,
Price of Bitcoin is based on speculation.
That is don't have any intrinsic value.
The value is only known by digit, only tech user know it.
So i think that is a bubble!
Price of Bitcoin is based on speculation.
That is don't have any intrinsic value.
The value is only known by digit, only tech user know it.
So i think that is a bubble!
should people who have a bad opinion about bitcoin must know if it really is there then two years ago it happened but until now that hasn't happened
some of them have begun open their minds to cryptocurrency
some of them have begun open their minds to cryptocurrency
Bitcoin is digital e currency which price control by supply and demand, when many supply without have demand maybe bitcoin price will be down, but if many demand but less supply bitcoin price will higher. All of bitcoin have power in investor's hand when to make bitcoin with higher and lower price.
This is a simple phenomenon that the lower the supply, the higher the demand should be in order to keep prices high of the entity. I don’t understand why people are unable to grasp simple rule for the dumping and pumping of bitcoin. We shall always hold on to our coins especially bitcoin if we want it to recover from dump soon. 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.
Most people do not know anything about the economy and that is why they rely on what other people say to form their opinion, the truth is that if you look at the charts, a bubble and an out of ordinary growth coming from a new technology may seem like the same but they are not, even the dot com bubble that everyone remembers was not really a bubble in the sense that the market not only recovered years later but it reached new heights and the same will happen to bitcoin if you give it enough time. A bubble in terms of financial market is a when something gets to an all time high and suddenly drops and it never goes up again. If we will apply that meaning of a bubble in bitcoin then it is not valid to call bitcoin as a bubble because bitcoin already die a lot of time but it is still manage to go up and dominate the market so bubble is not the correct term for bitcoin and the right term is volatile.
Bitcoin has ruled crypto currency world for years and all those who are somehow linked to bitcoin or crypto world are aware of the powers of bitcoin. So it would be stupidity to call bitcoin bubble as it is the only coin that touches highest values in crypto kingdom. Bubble is a term good for altcoins that are struggling to make their position in the world of bitcoin. We shall not underestimate the power of bitcoin. Quote
It clearly shows that unlike the other bubbles which burst and moved around their mean after the dumps. BTC is still trying to achieve greater heights and is working pretty fine. Moreover second fact is that even if this was a bubble now that phase is gone and BTC is moving as per it's intrinsic value. So i don't think it's a bubble anymore.
Another note that Bitcoin is different from those dot com bubble or fiat currency bubble is the limited supply and deflationary reward. If we check the properties of the given sample, both of those bubble sample can have an infinite supply. dot com can be created multiple times and paper money can be imprinted without limitations. I guess this property of BTC (finite supply and deflationary reward) save it from being a bubble itself.
I love the bubble stories of bitcoin,it is one thing made bitcoin more renowned that how much it was supposed to be in a decade of its launch.But there is no comparision of bitcoin with actual other bubble since we are still having value for bitcoin and it keep increasing so keep the bubble story away from you to make money for you.
Bitcoin is digital e currency which price control by supply and demand, when many supply without have demand maybe bitcoin price will be down, but if many demand but less supply bitcoin price will higher. All of bitcoin have power in investor's hand when to make bitcoin with higher and lower price.
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
The speculators and observers would love to compare something and they get what they wanted, twenty minutes of fame. The price of bitcoin had a big rally during 2017 and you need not necessarily be a genius to understand that there will be a correction because the price went up so fast in a short period of time, but comparing bitcoin to Tulips is just ignorance as they have no idea what bitcoin is all about.BTC is not a bubble at all. Wherever there is a crisis in the economy, the demand, and distribution of Bitcoin growing. The maximum number of BTC is 21 million. In addition, the speed of creating new coins decreases over time. Thus, the growing demand for digital currency is faced not only with a limited amount but also with a constantly falling supply. A comparison of cryptocurrencies and shares of Internet companies is nonsense due to serious differences between assets.
when you say bubble it is good as shitcoins bitcoin will never be shitcoins because it is the all mother of all
The internet is replete with people referring to bitcoin as a “bubble.” They are spreading fear, uncertainty, and doubt galore. They believe bitcoin’s high price spells impending doom, but their criticisms move beyond mere skepticism. It seems like they just hate cryptocurrency. Yet many of these pundits do not fully grasp bitcoin…or even economics. 
People perish because of lack of understanding, and if you look at people that are spreading those bad news, they don’t understand the whole concept of bitcoin, they just heard probably from one of their friends that bitcoin is a scam, bitcoin is a bubble and so on, and then they started carrying the rumor also without verifying the whole thing.We cannot do without having people of such, but we have very strong community too that are solidly behind bitcoin and they are strong to send powerful signal to the world about bitcoin, despite all their fud news, countries are beginning to adopt it, even countries that would not accept it as currency are beginning to legalize it as investment asset, so for those calling bitcoin bubble, they are still much in the dark.
A bubble in terms of financial market is a when something gets to an all time high and suddenly drops and it never goes up again. If we will apply that meaning of a bubble in bitcoin then it is not valid to call bitcoin as a bubble because bitcoin already die a lot of time but it is still manage to go up and dominate the market so bubble is not the correct term for bitcoin and the right term is volatile.
That is the fact and some people says it's a bubble and own my point of view I think it's not true. Bitcoin is a cryptocurrency and unlike fiat, its value is volatile so it may rise or fall from time to time but doesn't mean that it is a bubble. I do believe that bitcoin will last long so that many people will be able to earn from it.
People who are calling Bitcoin a bubble are funny. They make us laugh because while they are babbling about Bitcoin as a bubble, the price is constantly rising. The bubble gets bigger and bigger and shows no sign of bursting. For sure many of those bubble gangs are already realizing that they better buy Bitcoin instead rather than throw mud at it because they cannot really pull the reputation of Bitcoin down, not even its price. Those who stick to calling Bitcoin a bubble are people who are too late to buy a decent amount because of the rising prices. These are the people who are full of regrets.
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
The speculators and observers would love to compare something and they get what they wanted, twenty minutes of fame. The price of bitcoin had a big rally during 2017 and you need not necessarily be a genius to understand that there will be a correction because the price went up so fast in a short period of time, but comparing bitcoin to Tulips is just ignorance as they have no idea what bitcoin is all about.
There is a huge difference between paper money versus bitcoin and paper money versus bitcoin. Bitcoin is closer in many aspects to gold than fiat and that is why it is not thin money. Gold can be found on the ground for Christ sake, not anymore since most of the minable ones have been mined and now people are finding very tiny amounts of it but back in the day people literally found it on rivers.
Hence, why I think that bitcoin is closer to gold because right now people are mining 1800 of it but soon that will be 900 and then 450 and will get less and less and eventually will be over 20 million bitcoins which will make sure the selling from miners will go down.
Just because, you can mine it doesn't mean it is from thin air, you spend an effort for it, central banks print money with no effort at all, they just bring 180 billion dollars and give it to banks without any issue, bitcoin is not like that, nobody can print 1 billion dollar bitcoin right away, that doesn't exist.
Hence, why I think that bitcoin is closer to gold because right now people are mining 1800 of it but soon that will be 900 and then 450 and will get less and less and eventually will be over 20 million bitcoins which will make sure the selling from miners will go down.
Just because, you can mine it doesn't mean it is from thin air, you spend an effort for it, central banks print money with no effort at all, they just bring 180 billion dollars and give it to banks without any issue, bitcoin is not like that, nobody can print 1 billion dollar bitcoin right away, that doesn't exist.
People really need to start looking at charts using the logarthmic scale instead of the linear scale. For something that has periods of exponential growth, like crypto, a linear chart hides much of the history. Ups and downs prior to an exponential growth phase just get reduced to flat lines, and so the linear chart doesn't tell the story of what actually happened. All you see is what has happened in the latest cycle.
For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
The issue of Bitcoin being called a bubble is not only an issue about its price. The issue of Bitcoin as a bubble goes beyond that. For example, the claim of Bitcoin being a currency is also used as to support the bubble arguments. Detractors are saying that Bitcoin cannot last long enough or even become fully a currency because of its very features. Another argument is its being a bubble asset. It is defined as a sort of fad or trend that is in demand for quite a short span of time only but will eventually burst.
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
The speculators and observers would love to compare something and they get what they wanted, twenty minutes of fame. The price of bitcoin had a big rally during 2017 and you need not necessarily be a genius to understand that there will be a correction because the price went up so fast in a short period of time, but comparing bitcoin to Tulips is just ignorance as they have no idea what bitcoin is all about.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
The speculators and observers would love to compare something and they get what they wanted, twenty minutes of fame. The price of bitcoin had a big rally during 2017 and you need not necessarily be a genius to understand that there will be a correction because the price went up so fast in a short period of time, but comparing bitcoin to Tulips is just ignorance as they have no idea what bitcoin is all about.People really need to start looking at charts using the logarthmic scale instead of the linear scale. For something that has periods of exponential growth, like crypto, a linear chart hides much of the history. Ups and downs prior to an exponential growth phase just get reduced to flat lines, and so the linear chart doesn't tell the story of what actually happened. All you see is what has happened in the latest cycle.
For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
The issue of Bitcoin being called a bubble is not only an issue about its price. The issue of Bitcoin as a bubble goes beyond that. For example, the claim of Bitcoin being a currency is also used as to support the bubble arguments. Detractors are saying that Bitcoin cannot last long enough or even become fully a currency because of its very features. Another argument is its being a bubble asset. It is defined as a sort of fad or trend that is in demand for quite a short span of time only but will eventually burst.
People really need to start looking at charts using the logarthmic scale instead of the linear scale. For something that has periods of exponential growth, like crypto, a linear chart hides much of the history. Ups and downs prior to an exponential growth phase just get reduced to flat lines, and so the linear chart doesn't tell the story of what actually happened. All you see is what has happened in the latest cycle.
For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
Actually this is untrue. Linear charts are equally helpful especially when you want to trade upon Cryptocurrencies. Generally is shorter time frames you won't see much deviation between a linear chart and a logarithmic chart but on longer time frames you will see that logarithmic chart gives an idea of overall trend but linear chart is helpful to tell the important support and resistance levels of markets along with some important breakouts too. Both have their own importance and one cannot undermine the importance of the other. For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
People really need to start looking at charts using the logarthmic scale instead of the linear scale. For something that has periods of exponential growth, like crypto, a linear chart hides much of the history. Ups and downs prior to an exponential growth phase just get reduced to flat lines, and so the linear chart doesn't tell the story of what actually happened. All you see is what has happened in the latest cycle.
For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
For anyone who thinks bitcoin is a bubble: go to CMC, look at the charts over all time, and then crucially switch it from linear to log view. Voila. The growth pattern is as plain as day.
The internet is replete with people referring to bitcoin as a “bubble.” They are spreading fear, uncertainty, and doubt galore. They believe bitcoin’s high price spells impending doom, but their criticisms move beyond mere skepticism. It seems like they just hate cryptocurrency. Yet many of these pundits do not fully grasp bitcoin…or even economics.
I think both the currencies are made of thin air.
Wrong,bitcoin is not made out of thin air,it were mined by the miners ad got the instrinsic value as well.Proof of work is the electricity we are using to mine the bitcoins.We can't compare this with printing money because cost for printing $100 is not anywhere near its value and could be same as printing $1.
Gold was used as curreny too but the convenience and physical mass of gold moved the civilization to choose a paper as money.
I think both the currencies are made of thin air.
Wrong,bitcoin is not made out of thin air,it were mined by the miners ad got the instrinsic value as well.Proof of work is the electricity we are using to mine the bitcoins.We can't compare this with printing money because cost for printing $100 is not anywhere near its value and could be same as printing $1.
Gold was used as curreny too but the convenience and physical mass of gold moved the civilization to choose a paper as money.
I think both the currencies are made of thin air.
Wrong,bitcoin is not made out of thin air,it were mined by the miners ad got the instrinsic value as well.Proof of work is the electricity we are using to mine the bitcoins.We can't compare this with printing money because cost for printing $100 is not anywhere near its value and could be same as printing $1.
Bitcoin was in bubble status in 2017. No doubt. It's not a bubble though. It just experienced a short burst of bubblish tendencies. Tulip mania also is not real. look up the real history of it and you will find that the accounts are taken from a few extremely biased sources. But as always, don't take my word for it. DYOR and BYOB.
The perfect example of a bubble is the dot com boom during the late 1990s, which peaked on 1999/2000. At that time, the technology stocks that underwent spikes in NASDAQ can be classified in to two types. The first type comprises of stocks such as Yahoo, which never recovered from the bust. Yahoo managed to survive for a decade or two, but most of the stocks got delisted almost immediately. The second category comprises of stocks such as MSFT and AMZN, which despite suffering heavy losses during the bust managed to recover and give good returns to those investors who held on to these stocks. The recovery by AMZN was remarkable. The prices crashed by more than 95% during the year 2000 (adjusted prices from $113 to $5). But then it gave returns of almost 350x (35,000%) during the 2000-2019 period.
Now the question is whether we should compare Bitcoin with Yahoo or Amazon. IMO, it resembles more like the AMZN stock.
Now the question is whether we should compare Bitcoin with Yahoo or Amazon. IMO, it resembles more like the AMZN stock.
This is how a bubble looks defined with different phases. Here is the example of the dot com bubble which went exactly like this:
source: wikipedia
source: wikipedia
Why you ended dot com bubble at 2003? We are in 2019. Add missing 16 years and see what a bubble dot com companies are right now.
And what about the fact that in economically disadvantaged countries, bitcoin is highly popular and in demand, and used as an alternative means of payment? This is obvious, in my opinion, proof that bitcoin is not a bubble.
I think both the currencies are made of thin air.
Wrong,bitcoin is not made out of thin air,it were mined by the miners ad got the instrinsic value as well.Proof of work is the electricity we are using to mine the bitcoins.We can't compare this with printing money because cost for printing $100 is not anywhere near its value and could be same as printing $1.
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.
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.
I would say there was definitely a mania phase. And it was quite obvious.
Bubble in general is a very overused therm. Today every single thing that significantly gains in value, immediately gets called a bubble.
But in fact only the tulip mania represents a true bubble, with its rapid inflation and sudden burst, only this one matches the definition.
The rest are either a mania, hype or temporary enthusiasm driven by fortunate regulations. Nevertheless that's a good analysis, interesting and thought provoking. There is also the main difference between all of those examples and bitcoin, it is the quantity.
Only bitcoin has a hard, unbreakable limit.
Bubble in general is a very overused therm. Today every single thing that significantly gains in value, immediately gets called a bubble.
But in fact only the tulip mania represents a true bubble, with its rapid inflation and sudden burst, only this one matches the definition.
The rest are either a mania, hype or temporary enthusiasm driven by fortunate regulations. Nevertheless that's a good analysis, interesting and thought provoking. There is also the main difference between all of those examples and bitcoin, it is the quantity.
Only bitcoin has a hard, unbreakable limit.
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?Once the bubble burst then it will be nothing..!
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
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.
This unsustainable peaks could be likened to a price bubble, underlying product has a value which is rising with time.
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?
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.
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.
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.
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.
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.
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.
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.
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.
Bitcoin is termed to be a bubble based on very few reasons.
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.
- 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.
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.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. 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.
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.
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.
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.
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?
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.
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.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 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.
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.
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.
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.
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.
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.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.
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 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.
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.
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.
Here we have a strong argument that supports the fact that Bitcoin is not like the traditional bubble that can burst and will just be gone into the air without any chance of it coming back...or essentially defining the bubble as a one-time phenomenon that can eventually and suddenly just disappear. There is no question that many times Bitcoin do resemble like the bubbles in the past but time and time again Bitcoin had shown its strong resiliency and that capacity to come back against the current. Anybody can have the liberty to call Bitcoin as just another bubble but within its colorful 10-year history lies the answer to the question that some people can be asking. How many financial bubbles in the past was able to withstand the predictions of doom and gloom? I think that on this regard it is Bitcoin that is an exemplary example. And that is leading us to think that there must be something with Bitcoin making it a great survivor, a leader and a great success!
Most of the people around the world argue that bitcoin is a bubble. Bubble just like the one we saw with dot com or the real estate bubble. So here I have drawn a comparison of BTC with all of them. Have a look this is what a definition of bubble looks like as per economists.
source: medium.io
This is how a bubble looks defined with different phases. Here is the example of the dot com bubble which went exactly like this:
source: wikipedia
This was how the US Real Estate & Japanese Real estate bubbles looked like:
source: thenewmortagecompany
This was how the Tulip Mania bubble looked like:
source: medium.io
You can see how almost all the bubbles have followed the same path as that of classic bubble example. Now let me show you chart of BTC as what it looked like an year ago when the price were on a continuous down trend:
However this phase is completely gone and now we have seen some market strength in 2019 which clearly depicts why BTC is not a bubble have a look at this chart below. Compare it with the first chart and then you would feel that Bubble phase is gone:
source: forbes
It clearly shows that unlike the other bubbles which burst and moved around their mean after the dumps. BTC is still trying to achieve greater heights and is working pretty fine. Moreover second fact is that even if this was a bubble now that phase is gone and BTC is moving as per it's intrinsic value. So i don't think it's a bubble anymore.
source: medium.io
This is how a bubble looks defined with different phases. Here is the example of the dot com bubble which went exactly like this:
source: wikipedia
This was how the US Real Estate & Japanese Real estate bubbles looked like:
source: thenewmortagecompany
This was how the Tulip Mania bubble looked like:
source: medium.io
You can see how almost all the bubbles have followed the same path as that of classic bubble example. Now let me show you chart of BTC as what it looked like an year ago when the price were on a continuous down trend:
However this phase is completely gone and now we have seen some market strength in 2019 which clearly depicts why BTC is not a bubble have a look at this chart below. Compare it with the first chart and then you would feel that Bubble phase is gone:
source: forbes
It clearly shows that unlike the other bubbles which burst and moved around their mean after the dumps. BTC is still trying to achieve greater heights and is working pretty fine. Moreover second fact is that even if this was a bubble now that phase is gone and BTC is moving as per it's intrinsic value. So i don't think it's a bubble anymore.
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