Topic: Will the bubble burst? - page 2. (Read 4925 times)

Personally I think it will recover alot

The cause of the meteoric rise may have been media publicity, but the only thing stopping this from being mainstream is a legitimate exchange on US soil. Say what you want but people just don't trust sending their money to the "36th bank and lack of trust of Slovenia". Enter stage right coinsetter.com and merchants will jump on board. Once the merchants know they have a reliable, instant method of converting bitcoins back to fiat they will line up to start taking them.

I'd say denial or bulltrap area now..

It will settle soon. www bubble took much longer to develop and burst. Bitcoins is a sped up bubble.

Interessting picture, but the mean is still difficult to define especially Bitcoins are something that newer existed before. Bitcoins are currently under evaluated, even it looks currently like the price was corrected by the market.

Thanks for reviving this thread.
I was trying to find this pic.
CAPITULATION phase?

Going from only my recollection, BTC is following this path to a 'T' (if that is the proper term)

It's not a bubble, a pyramid or a ponzi.  I'm so tired of the detractors who oversimplify this. The pundits in the media clearly do not understand the system. Almost across the board they miss the significance to the system of mining. They think mining is some mysterious crypto puzzle by which bitcoins are magically minted. If you miss the fact that the idea of mining is to secure the network and create the blockchain then sure it looks like a scam or a bubble.

Bubbles are based on consumer ignorance and desire chasing a want for something to an extreme that defies logic. Demand for that thing spirals so far out that everyone drops what they are doing do make more of that thing because the profits are insane. Eventually, either the needs are all filled or the herd wakes up and demand falls. At this point the thing that makes it a bubble isn't the fall in demand it's the fact that 75% of your economy is now tied up in manufacturing the thing for which there is no longer a demand.

ASIC's are a potential (and likely) bubble due to the ignorance of the average person clamoring to get one at any cost. Fortunately for bitcoin, this only raises the perceived value of bitcoin. If some sheep buys an ASIC miner for 30k, he's going to expect a bitcoin mined with his rig to be worth something in relation to his investment.

People will eventually wake up and realize that bitcoin's primary strength is the fact that I can send money from Florida to anywhere in the world essentially for free. It's next largest strength is the ability for a merchant to make a non cash transaction without paying 4-14% to a processor. The secondary strength is where it will most likely find long-term adoption by the herd.

This was a panic plain and simple, not a bubble!

It went up way too fast. 2.5 weeks from 65ish to 260. That's highly unstable not to mention I have a feeling that a lot of the buying and selling was automated.

make sense, the last bubble looked the same except there was one zero missing at the end of all numbers. so maybe in 1.5 years we'll see the bubble bursting at 2500 usd falling back to 600 usd?

the bubble wont burst yet, ppl will pump and dump for a long time i guess

POP, hisssssss....

It bursted!

at $61 now

Nope. But is was predictable. Kinda funny reading through the thread now. I think price drop will halt at $20-$50 which for me feels like an reasonable value. Bad news for everyone who thought that buying btc for $150 was a good idea.

And it's still not bottomed out yet I'm afraid...

Well, seems you have a good chance to win this bet as it seems right now.
Also the OP question seems to be answered: the bubble is bursting right now.

I made a bet just for those who feel strongly about THE BUBBLE!

Bitcoin will drop below $55 anytime before June 1st, 2013

when the news gets out about the cash withdrawal restrictions and reduced hours coming to US banks... Soaaaaaar!!!

I dont hope so

Is this the new bottom? Price drop today from 72$ to 62$