Bitcoin bubble popping again?

TreasureHunter

TreasureHunter

Well-Known Member
The graph looks a lot like in 2014, then it popped and looked ugly afterwards...

Now, it might go down again... roller coaster of the digital fiat currency.
 
I was looking forward to the bubble popping, cos I need some BTC for some other coins :P
 
Yup, its going down. There is a huge possibility for a hard fork into Bitcoin Classic and Bitcoin unlimited and they can't keep a bitcoin unlimited node up to save their lives so everyone is losing confidence quick.
 
So many "derivatives", similar coins created... Bitcoin is still "the king", but facing so many attacks.

Not sure what could be the next good cryptocoin investment.
 
I don't think we are looking at another Mt.Gox price crash in the future, a lot has changed since 2014 like Japan adoption bitcoin as currency. I can see it continuing up however only reason it is still alive is because it has founders rights and is a main currency pair on exchanges. With the growth of Eth and XRP not sure how long that will hold. Bitcoin dominance was 90% beginning of the year now it's under 50%. Bitcoin needs to watch it's back!
 
Bitcoin gained and then crashed 17% in a few hours, and that's just a normal day. The whole crypto speculation thing is ridiculous. If this volatility happened to any other "currency" or share price imagine the headlines.
Something has to give eventually, this kind of volatility cannot last if crypto currencies have any sort of practical future in society.


MV0GREH.png
 
Maybe we think too much that the regulated ( manipulated ) markets are the normal.
Are they ? There are no free markets left over. So how can we know. With high leverage the prec. metal paper market is
the most regulated market ever. Since the gold pool was cracked down a few decades ago they installed
mechamisn to get it heavyly regulated in governments favour. Look at the stock markets, all up since 2009 x3 over all sectors, only one sector within these markets is down x3-5 since than. Normal ? For sure not.

Until now bitcoin was going under the radar and the tools for manipulating the market are not installed yet.
Bashing, banning and warning was not enough. To manipulate it down you need to ramp up supply. Hard to ramp up it up without ownership and not taking it seriuos enough. A few silk road confiscation was simply not the brainer.
ts new to have a "currency" out of the control of a govenrnment driven institution.
 
willrocks said:
Ha ha. If it goes the way of late 2013, it'll need a price of about $12000 USD before crashing.
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The digital fiat roller coaster game is at its next phase: going down again! And it's going down quite hard.

And check the other coins: Litecoin, Dogecoin... "etc. coin", prolly all the rest are going down with Bitcoin.
 
Even with Bitcoin "crashing" from 2800 too 2200 USD, my portfolio is up at least 100%.

Unfortunately I can't say the same for my gold/silver holdings given the same timeframe.
 
Altima said:
Even with Bitcoin "crashing" from 2800 too 2200 USD, my portfolio is up at least 100%.
Click to expand...

It won't stop at $2200, it will get back down to around $1300. Maybe even under $1000 if a hard fork happens, which is looking more likely by the week.
 
BTC doesn't move up or down politely that's for sure.
If this is a minor correction before resuming upward then the moon shoot is going to be HUGE!
If this is the end of bubble #6 (?) then the short term is going to be traumatic for many.
 
Altima said:
Even with Bitcoin "crashing" from 2800 too 2200 USD, my portfolio is up at least 100%.

Unfortunately I can't say the same for my gold/silver holdings given the same timeframe.
Click to expand...

Because they hold value better.

If there is no serious use for BTC and the other cryptocoins, they remain mostly speculative assets fueled by marketing, greed and a childish enthusiasm for wanting to have something hypermodern, Star Trek-like currency....

Still: 5-7 years ago bitcoin cost peanuts. Today you could have a luxury home if you invested just 1,000-5,000 back then.

Wow!

Don't get me wrong: cryptocurrencies amaze me. Just that in this form they are horribly volatile. I reckon some major speculators (Hollywood celebrities, financial speculators or anyone with a few million dollars are buying up and driving the price up), then they mass-sell at a peak.

Panic as it goes down...
 
Altima said:
Even with Bitcoin "crashing" from 2800 too 2200 USD, my portfolio is up at least 100%.

Unfortunately I can't say the same for my gold/silver holdings given the same timeframe.
Click to expand...

I've made more % gains in the crypto space after this crash in 3 months than if I had bought gold at 28$. Even if everything crashes down 90% still better gains than my PM holdings
 
Nabullion Dynamite said:
I've made more % gains in the crypto space after this crash in 3 months than if I had bought gold at 28$. Even if everything crashes down 90% still better gains than my PM holdings
Click to expand...

^
That's good for you!

Yes, cryptocurrencies are great speculative assets. Prolly the best ever invented!

But not as hedge against currency devaluation/crisis, not as a long-term safe-haven asset. They fluctuate and crash. And more and more digital fiat currencies are being created. They will only be successful with a new model that comes with better stability.

I came across this video accidentally - wow, so true! (About how hard it is to sell Bitcoins):

 
What is he blabbering about. I'm wish I had easier access to Bitcoins here in Canada. It's a much more developed ecosystem for cryptos in Singapore. Anybody has XBT for sale? Lol
 
TreasureHunter said:
^
Yes, cryptocurrencies are great speculative assets. Prolly the best ever invented!

But not as hedge against currency devaluation/crisis, not as a long-term safe-haven asset. They fluctuate and crash. And more and more digital fiat currencies are being created. They will only be successful with a new model that comes with better stability.
Click to expand...

I'm wondering if it's actually possible to engineer a crypto currency that is somehow more stable and immune or semi-immune from speculation?
 
SilverDJ said:
I'm wondering if it's actually possible to engineer a crypto currency that is somehow more stable and immune or semi-immune from speculation?
Click to expand...

If it finds good use: e.g. like the petrodollar, then it will be more stable.

For example: if you could buy food with Bitcoin in every store... or, if Bitcoin ATMs were almost as wide-spread as "normal" ATMs.

I don't know, but in this form, I'm not sure crypto currencies will survive. But they are a funny great invention, for sure...
 
SilverDJ said:
I'm wondering if it's actually possible to engineer a crypto currency that is somehow more stable and immune or semi-immune from speculation?
Click to expand...

Yes, welcome to government my friend. I'm sure we'll find a system of
Marxism to suit your needs.
 
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