Bitcoin Bubble!
Economist Dr. John Paul Rodriguez Came up with a diagram (shown below) illustrating the typical stages of a bubble, by time and value, but in terms of the psychological state of actual and potential market participants.Phases of an Asset Bubble
Let’s compare the above diagram to a current daily price chart of Bitcoin in U.S. Dollars:
wow! now what do yall think is Bitcoin in a bubble? lets have a conversation..
Thanks for the interesting post about Bitcoin bubble.
bitcoin is currently in a bubble, yes lol
but it'll probably go to 1500 minimum
I agree, but some still dont believe its a bubble
I'm new to this. I started reading a little on it last year, finally invested $8,000 a few weeks ago. mainly in btc, with only 1300 in ether.
It def was a bit of a drag missing the bubble/wave and buying a bit higher than i could have just 4 weeks ago but i think in the LONG run we're all gonna do very very well from btc and ether.
I also believe that you're going to see a tumble leading up to 8/1/17: Fork day.
Uncertainty is never good.
I'm personally pulling my btc offline when the fork happens and if it does indeed drop to 1500/coin i will buy one more and leave that one online.
I think the 5 year outlook is still gonna kick ass.
Uncertainty is the name of the game, I believe in bitcoin, the fork that is coming is a little iffy but I'm definitely riding the bitcoin roller coaster to infinity and beyond LOL
My take is explained here: https://steemit.com/bitcoin/@wekkel/bitcoin-in-a-bubble-no-way
Posting a non-logarithmic chart does give the impression of a bubble but it is probably not the best way to illustrate Bitcoin's growth. The growth had an exponential factor and that shows as a major spike on a regular chart. A logarithmic chart gives a better view of what's happening.
Take a look at the third graph in this post. First comment is that the current price action compared to the two 2013 bubbles is still a walk in the park. It is nothing.
Second, only when (not if but when because infinite growth does not exist) the main trend line shown on that chart is breached, it is time to start worrying.