Bitcoin reached $5000 last night?
I was watching this pretty closely last night but I didn't personally see it go above $4950 I imagine that it hit $5000 and it triggered the mass selling of the coin. So I came back and saw it sitting at around $4550...
We hit $4827(stamp) - Goldman Sachs said this ATH will be the top - now it is Bitcoin´s time to prove them wrong.
https://www.reddit.com/r/Bitcoin/comments/6xe7pa/we_hit_4827stamp_goldman_sachs_said_this_ath_will/
I don't seriously think we are dealing with a force that is going to be limited by anything physical. The value of bitcoin is more akin to a self fulfilling prophecy. Its more or less explainable by the occult like behavior. I think the value of bitcoin will generally be whatever we want it to be. And literally everyone wants it to continue to go up in value.
So I will have to say right now, all crypto currency is going to be on a continuous up trend. Its absolutely foolish to think that bitcoin will ever have a limit to how much it goes up.
PS: I wasn't expecting it to reach 5k so soon :X
People are way too invested in bitcoin to see it fail. It will continue to grow in high rates until all coins are mined. When they have been mined the coin will implode. So we certainly have a good
You think it will implode once all coins have been mined? I suspect it will just explode even more...
Perhaps even before that. But people are really keen to see it reach 50k, 100k.
But yes, I think it will implode at one point. Definitely once all have been mined because bitcoin is already technically outdated.
But who knows! Interesting times!
I think it would gain novelty lol
I actually think it will be faster than that. I mean 5$ for every transactions makes a lot of small trade scenarios impossible already. Who would want to pay double the price on a 5$ meal just to pay it with BTC?
Yes, this is the reason why we will never use Bitcoin to pay for a coffee. Fees are too high and transaction times are too slow.
So it will implode at some point. Until then it will remain the main currency everything is traded with just because of the high gains everyone invested in bitcoin will make from it in the meantime.
The first car was also a lot worse than the modern ones. I wonder why people (and especially McAffee) would think that we still drive the same car in 25 years.
The difference between bubbles and BTC is that there is actually a goal that people advocated for for decades, if not longer: A currency system that is not controlled by banks and government.
I am still waiting for their move, infiltration and corruption seems to be the current agent - it was FUD and low media coverage until recently.
It looks like this will be the first time in a while that the Asians might be the first ones to adopt a new trend/technology that is then spread to the world and you know what happened to Raziel after he surpassed Kayne, don't you? :D