One of the radio stations announced today in the news that the Bitcoin bubble burst! But later tht information was corrected that the editor meant that: “there was another price breakthrough”. However, it went into the world and the media began to speculate.
So, has something burst?
Chinese platform NEO’s founder Da Hongfei has said todat that Bitcoin bubble is “OK” and will come back stronger if it bursts. Speaking in a televised interview on CNBC, Hongfei explained calmly that the overlapping wave of enthusiasm in both Bitcoin and Blockchain was not necessarily a problem.
Also it is worth knowing that here are fears an economic bubble is forming as it becomes treated less like a traditional currency and more like a store of value, open for speculators making ever increasing bets on how far it can rise. Famous bankers, who had to step in when the subprime mortgage bubble burst, have also warned of its dangers. There is also an old theory that this is typical of bubbles that are driven by emotion rather than value. It is also a telling sign of the times where easy monetary policy has pushed investors starved of yield in traditional assets into highly risky assets like bitcoin. So we have two emotions: excitement and fear.
Some analysts expect the next, even astronomical records bitcoin trading, others herald declines, and even say openly: the bubble burst.
What’s happening with Bitcoin now?
Earlier today (December 3), the Bitcoin price achieved a new all-time high at $11,875, for the third time this week, after its full recovery from the previous major price correction. Moments after the bitcoin price surpassed $11,000, it dropped to $9,000, and almost immediately after, the media was eager to publish a series of articles on the next bitcoin crash. With the price of bitcoin nearly at $12,000, bitcoin is now the world’s sixth most valuable circulating currency in the world, within eight years since its launch in 2009!
Miguel Cuneta, the co-founder at Satoshi Citadel says that the network effect of bitcoin and the dominance of the cryptocurrency will continue to attract more investors in the global finance market to bitcoin.
Is it worth investing in it?
No one should advise anyone on investing in the exchange market. Because, tomorrow may appear news in the media, which will change the course of events. Bitcoin fans argue its price will rise further, viewing volatility as a necessary bump on the path to even higher valuations. Fans even coined a term to describe their tactic of holding on for dear life. But global financial leaders such as JPMorgan boss Jamie Dimon and Goldman Sachs’s Lloyd Blankfein have warned that the currency is ripe for use by fraudsters. We advise you not to invest whole savings in any currency.
Founder and Director of Research at Standpoint Researc Ronnie Moas has an excellent track record of bitcoin price predictions. He called bitcoin at $5,000 when it was trading at half that value earlier 2017. He has since raised his 2018 forecast twice, to the current $14,000 mark. Jim Cramer, the TV pundit, has the rosiest outlook on BTC of the assembled crystal ball gazers: $1 million per coin. But he is vague on when, exactly, he expects that to happen.
Where to buy Bitcoin cheapest
Prices on the exchanges platforms are very similar. We advise you to buy on well-known stock exchanges, which results are quoted in the media.
What other says about BTC bubble?
“Bitcoin is antifragile. The exact opposite of banks and too big to fail conglomerates. HODLers have seen all of this FUD for years. We have skin in the game and dont give a FUD.” (disqus)
“Many in crypto consider Bitcoin too big to fail too. If everyone just buys to HODL I am sure many of them will sell immediately when it starts dropping as we saw when Bitcoin fell back to $2500.” (reddit)
“That’s not how the internet bubble went or worked. It wasn’t an “internet bubble” either. If anything, it was a start-up or venture capitalist bubble. And in truth, there’s quite the parallel between the start-up bubble and all these alt-coins people are trying to get in on.” (reddit)
“By end of 2018 adoption would have grown by atleast 50% to the current 6–8 Million users and is expected to cross 15 million users.” (Quora)