Post
Topic
Board Speculation
Re: Bitcoin bubble ?
by
hatshepsut93
on 26/11/2017, 23:39:31 UTC
I’m hodling my bitcoin but a mentor  of mine and this is not fud states things are positive but we are in a bubble. His words watch what happens in bitfinix. Any thoughts on what he is implying ?

Bitcoin is different from what we've seem before. If someone would try to compare it with tulips or dotcom bubble, than they would be straight up wrong - Bitcoin has value because it has many uses - storage of value, medium of exchange, international transactions, etc. The market might get overspeculative and overvalue those properties - people may be buying Bitcoin simply because they want to sell it later at higher price, so when the rally will slow down they will start massively selling and it will crash - but this doesn't mean that "the bubble will burst" and Bitcoin will get to zero - the process of price discovery will continue and a new price will be established. Then we might get another rally when people will see that Bitcoin has enough support.