Why are these amateurs always shouting bubble - Bitcoin/Crypto

[Mgkfanboy43]

The only people that are saying it's a bubble and it's going to pop and crash are the same people that don't own any Bitcoin.

I'm not the most up to date informative person on Bitcoin. But I trade a lot of stocks and do well.

Bitcoin is the Versace of crypto coins. It was the first one to go real mainstream, it's on CNBC almost everyday they have a few segments on it.

It isn't going to go from $16k to $6k. Sure it will fluctuate a few thousand everyday, but the coin isn't going to dormant and just die. I don't own much but the average price I paid for the coin was $6300.


It's not going to jus tho to nothing one day. All these people saying it's just hype and that people only want it because they want to get rich.


Can't the same be said for precious metals and gemstones, everyone acts like they are so rare and they really aren't they just regulate the amount pushed into the market.

They aren't even many more bitcoins available so one they are all purchased, what the hell do you think is going to happen to the price?


A rep for eBay said eBay is looking to start possibly accepting Bitcoin. Amazon and Apple are going to hop on it then Walmart. Once these large corps start accepting it it's going to go higher and higher it is common sense.

Eventually there are probably going to be banks dedicated to solely Bitcoin.

What Bitcoin has become for the lack of practicality in the everyday life of a person, what is going to happen once it is easier to spend and accept.

 

[mickyfu]

The only people that are saying it's a bubble and it's going to pop and crash are the same people that don't own any Bitcoin.

I'm not the most up to date informative person on Bitcoin. But I trade a lot of stocks and do well.

Bitcoin is the Versace of crypto coins. It was the first one to go real mainstream, it's on CNBC almost everyday they have a few segments on it.

It isn't going to go from $16k to $6k. Sure it will fluctuate a few thousand everyday, but the coin isn't going to dormant and just die. I don't own much but the average price I paid for the coin was $6300.


It's not going to jus tho to nothing one day. All these people saying it's just hype and that people only want it because they want to get rich.


Can't the same be said for precious metals and gemstones, everyone acts like they are so rare and they really aren't they just regulate the amount pushed into the market.

They aren't even many more bitcoins available so one they are all purchased, what the hell do you think is going to happen to the price?


A rep for eBay said eBay is looking to start possibly accepting Bitcoin. Amazon and Apple are going to hop on it then Walmart. Once these large corps start accepting it it's going to go higher and higher it is common sense.

Eventually there are probably going to be banks dedicated to solely Bitcoin.

What Bitcoin has become for the lack of practicality in the everyday life of a person, what is going to happen once it is easier to spend and accept.

I own Bitcoin and it's a bubble. You see I may own Bitcoin, but I ain't stupid enough to think it's the new world currency, or anything other than a fad.

 

[roman375]

Is Bitcoin a bubble? Maybe, but no one on this forum or anywhere else has the answer to this question with any degree of certainty, otherwise they would be taking out leveraged short positions on it today.
Can you make money investing into Bitcoin/crypto? Yes.
Should you invest your entire life's savings into Bitcoin/crypto? No.

 

[mickyfu]

Is Bitcoin a bubble? Maybe, but no one on this forum or anywhere else has the answer to this question with any degree of certainty, otherwise they would be taking out leveraged short positions on it today.
Can you make money investing into Bitcoin/crypto? Yes.
Should you invest your entire life's savings into Bitcoin/crypto? No.

Apparently you can only open a short position with a few million. Just what I have heard.

 

[roman375]

Apparently you can only open a short position with a few million. Just what I have heard.

Apparently you heard wrong.

 

[mickyfu]

Apparently you heard wrong.

Maybe I did, maybe I didn't. Try and short it and let me know.

 

[roman375]

Maybe I did, maybe I didn't. Try and short it and let me know.

I am one of those stupid enough to think it has a lot more in store than whatever we have seen so far. So it would make no sense for me to short it. But you can sign up on Poloniex, Bitfinex and Gdax and set up leveraged shorts for whatever amount you can afford to.

 

[mickyfu]

I am one of those stupid enough to think it has a lot more in store than whatever we have seen so far. So it would make no sense for me to short it. But you can sign up on Poloniex, Bitfinex and Gdax and set up leveraged shorts for whatever amount you can afford to.

I was talking about the futures trading.

 

[The Doctor]

I own Bitcoin and it's a bubble. You see I may own Bitcoin, but I ain't stupid enough to think it's the new world currency, or anything other than a fad.

cyrptocurrency a fad? sorry but you're 100% wrong about that.

 

[BassTrackerBoats]

cyrptocurrency a fad? sorry but you're 100% wrong about that.

http://blogspot.com/crypto-the-new-hula-hoop/

This differs from that train of thought.

 

[The Doctor]

http://blogspot.com/crypto-the-new-hula-hoop/

This differs from that train of thought.

that link is 404 but I'd like to read it. I can think of several economic reasons that crypto is here to stay but most of my understanding comes from the technical aspects. In those respects, no other currency could be more sound. It's a logical progression of currency in general. It might be speculative but no more than the dollar, perhaps less so.

 

[BassTrackerBoats]

that link is 404 but I'd like to read it. I can think of several economic reasons that crypto is here to stay but most of my understanding comes from the technical aspects. In those respects, no other currency could be more sound. It's a logical progression of currency in general. It might be speculative but no more than the dollar, perhaps less so.

Bad link... sorry.

http://blogspot.com/crypto-the-new-yo-yo

 

[pasdoy]

tech != currency. when you buy a coin you don't buy a tech, you finance it. nothing stops anyone to cash on the bubble.

 

[The Doctor]

Bad link... sorry.

http://blogspot.com/crypto-the-new-yo-yo

still borked

 

[roman375]

I was talking about the futures trading.

Didn't see you mention futures, but even with futures most brokers require a couple of zeros less than a million. Regardless, even if that were the case, you can still short it today using any exchanges that provide margin trading.

Having said that, markets can stay irrational longer than you can stay solvent and all that. Even if you had the foresight to know with absolutely certainty that it's a bubble destined to crash imminently, shorting it would still be a huge gamble. Take the recent short position on Bitfinex this week, which ended up getting margin called (after a regular's day volatility that went the wrong way) resulting in a couple of million in the hole for the party that went short. Which brings me back to the original point mentioned in my post above. Do what you believe will make you money in this space, but don't bet your house and the chickens on it.

 

[Mgkfanboy43]

I

I own Bitcoin and it's a bubble. You see I may own Bitcoin, but I ain't stupid enough to think it's the new world currency, or anything other than a fad.

I agree to disagree, so you basically think its just going to pop and crash? Thats what you mean when you say its a bubble?

There is just too much going on with it, if it was just people promoting it and hyping it up id agree, there is just too much support being put behind it, I heard russia is using it as a loophole to avoid sanctions, IDK if thats a great thing, but that means there is a ton of money being put into. WHen you got companies like ebay/paypal some of the largest entities on the internet saying they are considering using it as a payment, that is nothing but great news.

But i get nothing everyone has the same investment views as i do, which is why most fail. I day trade and swing stocks penny stocks anything less than $5 and more than $.50.

I do very well and i use positive news to identify whether a stock has a potential to go on runs, and so far its been working for me with crypto currency.

Ive been dip buying the hell out of bitcoin, at around $1600-$16500 and selling it at $7500+, its been consolidating in that range and i make 5%-10% everytime i do this a few times a day, today alone ive made $2000 doing it.


Bitcoin is making me very wealthy so maybe im just biased.

 

[mickyfu]

I

I agree to disagree, so you basically think its just going to pop and crash? Thats what you mean when you say its a bubble?

Well yeah basically. I think at some point in the not so distant future, people will be pounding money in, the bubble will burst, 75% or so will disappear, and it will never regain it's position.

 

[roman375]

Well yeah basically. I think at some point in the not so distant future, people will be pounding money in, the bubble will burst, 75% or so will disappear, and it will never regain it's position.

Bear in mind Bitcoin has crashed to -70% to -90% of its value multiple times in its existence. And yet, here we are today. I believe as long as the fundamentals behind the technology and its premise do not change and/or are not sabotaged, it's not just going to go away.

Point being, we may very well be in for a huge correction in the not so distant future as you put it, but that does not necessarily mean it will be the end of it, never to reach another ATH, unless the fundamentals behind it say otherwise.

 

[NulledCode]

Bitcoin will not go away, it’s been here for over 8 years now. That doesn’t mean the value of btc can’t go back down to pennies. The only reason it’s going up is because of all the hype surrounding it and how easy it is to make money in it. People who been around this forum know all about the peaks of money making methods, micro niche sites, Amazon affiliates, content locking, Craigslist, etc... and the good times do come to an end. You will then see all the forum posts asking “is making money in crypto currency Dead?” just like you do with every method.

The moment everyone and their grandma owns bitcoins and stops buying, and wants to sell their coin for actual currency, then you will see it crash, and crash it will.

 

[1Enigma]