dannybabbev

We are far away from the real bubble in Bitcoin

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
There have been many articles and rumors around the speculative price bubble forming in Bitcoin (and the cryptocurrency market as a whole)

Today, what would mean a bubble with the size of the one formed back in 2013?

It would mean a 5127% increase in the price of Bitcoin from the level it broke the resistance in its logarithmic trend. In the course of 11 months.

This equals, approximately, a price of $102,000 per Bitcoin and a market capitalization of $1.725T (One trillion and seven hundred twenty five billion dollars)
And if we hit that number we'd be all popping champagne bottles.

However, we are very far from such a bubble- $1.65T (One trillion and sixty five billion dollars) to be precise.

For that reason we can only enjoy the ride, sit back, relax and wait for the dollar to inflate itself.

To the moon!
hey @dannybabbev any update? your chart looks great atm!
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dannybabbev erelerel
@erelerel, As written above, we are still far from the bubble :)
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erelerel dannybabbev
@dannybabbev, :) thanks for the info
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For something to be in a bubble -- you need everyone in it, is everyone in? NO, not even close ---where has there been a worldwide market that runs 24/7, compare bitcoin to forex market and it is not even a blip -- context is everything and stop comparing bitcoin to the stock market and traditional securities, this is a brand new type of financial ecosystme that is in its infancy. Take some profits but by no means sell all your bitcoin.
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Of course is bitcoin a bubble, all leading fundamental, technical and currency experts and even a good part of the crytocommunity plus the trading community confirms that. If the parabolic price development is broken, it must not neccasarily be a crash (which is statistically more likey for the BTC compared to other bubbles in the history), but it will come to a huge price decrease. No one doubts, that trading and speculation with the cryptocurrency is a viable thing, but if you hold a huge amount of coins for a longer time, well, that is absolutely not recommendable to anyone. Or is that what you really recommend? Why are huge investors not hopping on your trend? Yeah exactly, because they know how to make money and that includes how not to lose it (and market capitalization is not neccassarily an argument for or against a bubble btw). And, of course, the coin can rise to 10k+, thats not the problem dude, but the problem is, that you never can predict if and when exactly the crash is coming, and the risk of that event is massively increased here, much higher than it was with other bubbles in history. It would be statistically unusal it if wouldn't happen, since the bitcoin meets all criteria. That doesn't mean you can't make money with cryptocurrency or it is bad or crap or something. But there are still some people in the cryptocommunity or trading newbies that seriously believe that bitcoin is not a bubble, that makes me really think. And if you really believe, cryptocurrencies can replace normal money, you don't know how the markets work and you probably never heard of things like deflation.
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People who are saying it is a bubble are either "the grape is too sour" type, or the "give me a better price to get back in" type.
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Couldn't agree more, when people around me ask if Bitcoin is too expensive, and what's the real price it should be, all I can answer is, many factors that drive Bitcoin price wasn't able to quantify easily, yet I can't really tell the intrinsic or fair value of Bitcoin like we can in stock, but one thing I do know is the Bitcoin price is too, toooo cheap for now.
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I couldn't agree more, I see the graphs they show of BTC using a standard chart but you cannot use a standard chart long term. I like how you used the log chart which is correct. With that said we are in a 5th wave so a pullback is likely which will be a good back up the truck. I also agree with your 100k call on BTC. the futures market trades $4 Trillion dollars a day or 200 billion an hour. When crytpos go mainstream (and they will) it could exceed 100k/coin in value ETH will be a 10k coin easily.
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You're a funny guy. As a market mature bubbles become less severe. A steady rise to 100k over many years? Possibly, if bitcoin remains important. A bubble to 100k? Unlikely. We won't see "a bubble the same size as 2013" because firstly as the price goes higher it gets exponentially more difficult to achieve X% rise, and secondly as there is more volume there are more players, which makes a bubble like 2013 infinitely more difficult to acheive.

Not only that but the BTC orderbooks in 2013 were extremely thin and there was a bot doing most of the work.
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dannybabbev idontknowwhat
@idontknowwhat, That's my point. We are a trillion dollars away from the real bubble in BTC (as real as the one back in 2013)
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