The Crypto Bubble Didn't Even Start - BusinessInsider Insider Information?
It's not every day that you see a publication with a decent track record, like Business Insider, to publish a piece on cryptocurrencies on a really high, optimistic note. Yet that's what happened just 2 days ago, in this article. The original title was, to be correct: "The bitcoin bubble could just be getting started".
The obvious comparison, when it comes to bubbles, is the dot com bubble, which, as lucky as I am, I witnessed in all its glory. It's also what the author of the article used, but with this surprising outcome:
But let’s be clear: at the peak of the dotcom bubble, the market cap of the NASDAQ index was nearly US$6 trillion. The entire cryptocurrency market cap right now is currently less than 1.5 percent of that.
So, if we're looking just at the numbers, it seems that we're not even close. There's still a lot of room for money to pour in, for the volume to increase and for new prices to be discovered.
Of course, when the bubble will start, a lot of balloons will pop up. That's why it's important to stay informed, to avoid FOMO (and all the related "get-rich-quick" schemes) and, in general terms, to keep your head between your ears.
There are a few other interesting conclusions in that article (mostly related to the recent Consenus conference), but I'll leave you all to enjoy them in solitude.
Full article here.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
Let it boil and bubble! And let it burn people!
It was so since the tulip bubble an will be so when when we colonize the next solar system.
Funny thing, I also had the tulip bubble in mind while writing this piece :)
But isn't the problem with bubbles that it's only with hindsight you realise what you should have done. The dotcom bubble had plenty of smart and cautious people lose their money too.
Agree. There's always something to lose, even if you're the most cautious investor / entrepreneur in the world.
The infrastructure to form a bubble like the dot com bubble in crypto isn't even in place yet. EOS will likely be a big part of that, as well as Steem with the upgrades coming. I'd say we're now at the same stage the dot com bubble was at before most people even knew what the internet was.
Yeah, good call on the actual status.
I'm confident that STEEM will be one of the biggest ones in the future when the bubble reaches that big. Thinking of transaction alone, STEEM is already the king or prince. And there are even still a lot of things in the team's sleeves - EOS and the possibility of STEEM to be integrated with it. I didn't anticipate it. I don't think anybody did but the bytemaster alone.
That's one of the reasons why I'm Hodling. hehe.
If we keep the comparison with the dot com bubble, the survivors, like eBay or Amazon, got even bigger after the crash. I'm confident the crypto world will have its own eBays and Amazons. Steem has indeed potential to be one of them.
I want to see you there when that happens sir dragosroua. I also hope that we remember this conversation.
I guess if we forget, we can always ask the STEEM blockchain! :)
There's always a pull-back after each hike in bitcoin price, which to me suggests that Crypto market is not all crazy traders trying to cash in on the hype. Crypto world is mainly dominated by sane minded technical people & they know how much bitcoin is going to help change people's lives in the future. And that's why they're holding the cryptos for long term and that's what's not letting a bubble to be formed.
Thanks for bringing in some reason.
Aahhh everyone must know and.muat learn this, I really love the article thank so much for sharing this @dragosroua if I could only buy lots hahaha then I can have a bright future too. But soon Bitcoin and.othet cryptocurency will top up in the list percent not just 1.5 but higher than they expect and many will get more profit.
I think this is proven by the fact that if you ask around, NOBODY owns these things yet!!
That is very encouraging to see a positive article by the Business Insider. Thanks for sharing.
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