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Volatility has been bitcoin’s constant companion ever since it’s inception, and skeptics and critics alike will always make it a point to remind you of this. In fact, the new hot buzzword is the bitcoin bubble.
Bitcoin is booming and there are many people out there just waiting for it to bust.
https://www.cryptocompare.com/coins/btc/charts/USD?p=3M
Bitcoin has been performing very well this year.
In fact, it’s up nearly 400% in the past year.
Even despite a few corrections the past few months, bitcoin has well out performed more well-known investment avenues like the S&P 500.
This has led to a few big name investors to speak up and prove that Bitcoin is still misunderstood and underestimated by the mainstream media and is still an unknown to the majority of people at this point.
http://www.zerohedge.com/news/2017-06-08/jim-cramer-goes-batty-bitcoin-may-hit-1000000-act-now-its-too-late
We’ve got people like Jim Cramer who is crediting the future price of bitcoin hitting the golden $1million mark purely because he thinks European banks will need to buy a lot of bitcoin to prepare for future cyberattackers demanding payments in BTC. Not only are the European bitcoin exchange markets ranked 5th in terms of trading volume, but furthermore, the biggest ransomware attack EVER gained a whopping $100,000. So to attribute the future million dollar BTC price on this misguided assumption is proof enough that bitcoin and cryptocurrency is not well-known to this guy.
http://www.cnbc.com/2017/06/06/mark-cuban-calls-bitcoin-a-bubble-price-falls.html
And when Mark Cuban is saying Bitcoin is in a bubble because “everyone” is saying how easy it is to make money if you buy bitcoin, he’s also mistaken.
Go to your local gas station or grocery store and ask the clerk or fellow customer if they own any bitcoin. Go ahead and ask everyone you come in contact with during the day. The fact is that not everyone has even heard of bitcoin, let alone taken the time to look into it, and even fewer still have taken the time to figure out how the heck to buy it. If you want to decide for yourself if we are experiencing a bitcoin bubble, it’ll help to understand what a market bubble is.
http://www.investopedia.com/terms/b/bubble.asp
Investopedia defines a bubble as “an economic cycle characterized by rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior. When no more investors are willing to buy at the elevated price, a massive selloff occurs, causing the bubble to deflate.”
http://www.marketwatch.com/story/is-bitcoin-in-a-bubble-this-metric-suggests-theres-more-room-to-grow-2017-06-08
Basically you know it’s a bubble when the vast majority of people are investing in an asset just because everyone else is investing in it. This causes the price to quickly rise well above what it’s valuation should be. The bubble pops when there are no more unsuspecting, uneducated investors to buy into the hype and panic selling kicks in.
The main reason why I don’t believe bitcoin is currently in a bubble is because the pool of potential investors is international.
Can you wrap your head around the millions of people who have yet to buy into bitcoin or cryptocurrency in general and what that will do to the price of bitcoin?Don’t get me wrong, I’m sure there will be more price corrections in the future but I believe the price of bitcoin will continue to rise.
Skeptics love to call this a bitcoin bubble. Now I’m not here to tell you what to invest in and when, but I feel the need to clarify what a bubble is so that you can have some knowledge on this subject and come to your own conclusions.
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finally someone with common sense…
What do you think after 6 months?
i am really interested in hostcoin
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How many cryptos for a suck job
They make the same argument for silver and gold. Go ask around and you will see that nobody owns it. Still it's sitting low at least for now. After it makes some gains, people will chase it.
We are now August 25 and I note all every persons I talk to about Bitcoins have no idea about it, even less about crypto in general. I am talking about enginneers or IT guys, imagine about the general populations. If a bubble occurs, it's far from now.
awesome video! thank you.
The question isn't whether we're in a bubble, that is a certainty. The real question should be at which point in the bubble are we? Are we right at the start or about to burst? When you consider the internet bubble burst in 2000 was a $1.7 trillion bubble, then we are no where near that right now. Overall Crypto market is $100 billion. There's many companies that are many times bigger than that. On the other hand, the ceiling for the Crypto market might be lower than that $1.7 trillion (which I doubt) and it might burst much sooner. But I'm not sure, we might see violent corrections for the next few years but not sure it would be the bubble bursting yet. Institutional money is barley starting to wake up to the market and the general population is still, in general ignorant about Crypto currency. There may yet be a lot of money out there to flood into the Crypto market. All these ICOs however have made it clear that this is a bubble in the making, but we may just be in the early stages still. A lot of dumb money still out there waiting to flood in I think.
good job with your research
the future mayne
Do you have a bubble butt? B/c we should get married if you do.
Can you recommend site to sell bitcoin and wire the money to you world wide
As I can see the buy sell site work with certain countries so If I'm not in these countries how can I sell my coins
It's correcting as we speak. Maybe it will start rising again, but all we know for sure is that one group of people will be laughing and saying "I told you so" while the other group of people will be looking back at how smug they have been when they knew absolutely nothing. I say "absolutely nothing," because, you won't know until it happens. And no matter how right you think you are right now, if you turn out to be wrong, then you will just realize you couldn't have known more than nothing about something that hadn't happened yet.
hey I really appreciate your easy to follow crypto explanations. It's really refreshing to see non-technical people getting into the crypto space.
I was wondering if you're available to chat a little more about the cryptospace and a potential partnership with a blockchain startup I'm working with. Let me know! 🙂
For the 20th time give Mark Cuban a break … He's still in puberty.
Mark Cuban is a douchebag
this is definitely a bubble. probaly last bubble before mass adoption
Bubble will pop
25 views shy of 1 view per subscriber to your channel – nice work on having an engaged audience! I agree generally and am glad you took a jab at Cuban and Cramer (in a very professional and classy way) but the analysis of the crypto "bubble" (ETH/BTC) only goes as far as your definition of asset "fundementals" and "irrational exuberance"… this is a totally new asset class so how do you define these terms? What are we calling fundamentals? Robert Kiyosaki might say Cramer and Cuban still don't know the difference between an asset and a liability…
Jim Kramer is ridiculous.
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Bitcoin could be in a bubble. Ethereum is not.
Awesome content. Very informative
Keep em coming…..
Bitcoin is hot as are you ??
Bitcoin Segwit, Lightning Network, ETF will be gg. It's worth the risk- so just hodl hard
I get your point, but I still think it could crash back to 1000 pretty quickly.
The argument that there are tons of potential buyers is invalid because then you assume that these buyers will be interested in bitcoin within the coming year. This will most likely not be the case. It could a decade before the majority of the population understands bitcoin
On top of that, there are a lot of people who now own bitcoins purely to make money. To make a PROFIT. Now when the price goes down 25%, what do you think these people, that don't care about the idea and technology behind bitcoin and just want a profit, will do? Exactly, they will sell too in order to try and secure their profit…
In the long run, your argument of lots of people still being unware of bitcoin holds up, but in the short term i could see bitcoin crash.
Thanks for the video, I disagree with your analysis. Bubbles happen for various reasons, in this instance I think it is because there is a premature over-hype and excessive investment in a product that is not yet ready/widely available, and not because it has run out of buyers (i.e. a pyramid~esk scheme bubble).
I expect a bunch of the new investors have not even tried making a withdrawal yet lolz 🙂 and are probably investors that have deep pockets if they wanted to invest more, but generally the majority seem to be savvy with their bankroll/wealth management and have no more than 30% of their wealth invested (based on other videos I have seen)…so I don't think it is anything to do with the market running out of buyers.
Although most mainstream 9-5'ers give little care into investments beyond pensions and savings (or don't have the risk tolerance for other investments), so it doesn't really matter if they are unaware at the moment and I don't feel that they are "potential buyers" as you say.
Also I don't feel the majority of the population have the patience to figure out Crypto's, setting up wallets and accounts, waiting 3-5 days for verifications, transfers, etc.
I think there is a bubble and have sold my Eth (didn't have any BTC) at 350…probably a bit early, but better earlier than later with bubbles imo, was lucky to get in earlish at 140~ and banking such a big profit over a short period of time is always good, esp when the risk of bubble's and crashes are approaching.
The price has gone up soo much, soo fast, it is just not sustainable…loads of the Altcoin are going through bubbles/pops where they go up 10-100% and crash in the same day, despite nothing actually happening with those coins and their valuations not changing based on the coin activities or news, some of them are even just white papers with a basic roadmap lol?
Just a massive influx of purchasing volume, then selling, then volume back to very low…market manipulations for profit, are Crypto coins creating extra fiat currency??lol
If you take a look at market graphs in general, history just repeats itself with bubbles and the graphs/stats are looking prime for a repeat, go do your own research about it and make your own conclusion though based on short/long term growth and volume vs the arguments made in this video.
Good time to bank profits imo, chill for a bit and potentially buy back in subject to changes in circumstances over the next months.
Happy investing…:)