Bitcoin: Yes, It's A Bubble And It’s About To Burst
The popularity of trading Bitcoin has now reached the point where none other than the New York Times sees fit to declare cryptocurrencies, or more specifically initial coin offerings, “The Easiest Path To Riches On The Web.” Not to be left out, CNBC this past week published a brief tutorial on trading crypto with your smartphone and MarketWatch featured a teenage bitcoin millionaire who now forecasts a $1 million price target.
These are exactly the sorts of headlines and stories that characterize a speculative mania otherwise known as a “bubble.” For anyone who was around during the dotcom mania this should quickly bring back memories of all the folks who flocked to day-trading tech stocks. But to really understand the mania, you need to look no further than the primary argument in buying crypto in the first place. Investors here claim the value comes from the limited supply. The trouble is there is an unlimited number of types of coins that can be created!
Read more here: https://www.investing.com/analysis/yes,-bitcoin-is-a-bubble-and-it%E2%80%99s-about-to-burst-200197274
I dont think so..
We are in a bubble, but not one that is going to burst so soon. My parents barely know anything about bitcoin, only two of my friends invest something in it, and I don't hear rumblings around the water cooler or in the neighborhood. Forget TV ads and internet banner ads talking about get rich quick schemes by investing in Bitcoin. We've just started the rise. And this is going to be a world wide phenomenon, not one focused on a specific country. So it'll get far more inflated before we start to cry under the sheets at night with how much money we have all lost. At least that's my opinion on it.
yes, there's a lot of room before it burst. Many i know who haven't even heard the word bitcoin.
Bill Gates is worth more than the entire Bitcoin market value spread amongst the rest of the 8 billion people. Price may bounce around a lot, but that's fine. The perception of one bitcoin being worth $2600 seems like a lot. But if we renamed 1/1000 of a bitcoin at $2.60 and called it a Satoshi then all of a sudden $2.60 per Satoshi sounds pretty cheap.
Oh and following you now.
followed you back. You got a point there. The price of a bitcoin now is nothing when we compare it after 10 years.
If Apple Stocks, just one company, can have a market cap of 750 Billion Dollars I think the entire crypto industry with only 110 billion has a long way to go.
Bitcoin is so widely used in trading and also buying products that its price is still cheap. Lets not forget that there are only 16 million bitcoins out there and each is divisible to 8 decimal places. I use to buy one or more coins at a time but now I buy a percent of a coin.
My main concern is not the price but what will happen if there is a fork. Time will tell and then a green light to $10,000.00 :)
Dont worry about that fork (soft or hard). They will always find a way to improve bitcoin whatever it takes.