(VIDEO) Is Bitcoin a Bubble? 3 Reasons Why Bitcoin is NOT a Bubble
The Bitcoin Euphoria has hit and everyone wants a piece of the pie.
Because of the "parabolic" growth over the last week, the cries for the bubble to pop have grown louder again. But this isn't Bitcoin's first rodeo.
This video explains three reasons why Bitcoin is actually not a bubble. It may go through corrections at a higher clip than traditional investments, but if it was a bubble, it would have been dead a long time ago (2013).
Those who are calling it a bubble are scared skeptics who don't understand the technology behind the revolution.
Unlike other bubbles of the past (real bubbles, like the housing market), Bitcoin has been strong and it continues to rise even in the face of unrelenting critics.
Leave your comments below. Any other reasons you think it's not a bubble?
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Real bubbles are pretty rare, especially with a global market. I think bitcoin is going to die off or change a lot in the next decade, but cryptocurrencies have a market value of tens of trillions of dollars, I have no idea what the upper value of blockchain in general could possibly be. Its certainly going to change the world, will probably end up taking down entire governments. In a round about way, blockchain with automation may end up fufilling Marxs dream of a flat heirarchy.
I agree with everything you said except that Bitcoin will die off.
I'm not entirely convinced of that yet because, while Bitcoin has it's issues with scalability and transactional efficiency (and it needs to be able to adapt to the massive global adoption that has already started), there are hundreds of the best developers in the world who are constantly working on Bitcoin Core.
Hence, I think it will always have a place in the market, but to your point, it may get overtaken by a better alt coin one day.