The old rule is when your mailman and your plumber are talking about how great an asset is, that is when the bubble is about to crash because there's nobody to pump new money in. Anything that everybody thinks is amazing is very frightening to me. The only thing that overrides greed is fear, and I don't think right now it would take much to start fear propagating. However, I read the bitcoin Reddit all the time, and those are some hardcore true believers. I don't think much of anything could make those guys panic. But given how much general media attention Bitcoin is getting, I'm not sure they are driving the price, so much as new investors. But when it bumped from $10 to $100, I was sure it was going to collapse back most of the way, so what do I know? If it drops back to like, $7k or $10k and levels out, is that going to freak people out?
This is going to crash hard, we'll be sub 10k by next week. Hopefully not lower than 8k. Someone tell me I'm wrong please.
What vendor in their right mind would accept this as payment? That in itself means your "currency" has no value. That said, I predict there will be a fiat capable blockchain digital currency that will go mainstream in the future but it will be created, released, managed by the central banks, federal reserve, etc...
you are watching with some major lag guy. prepare to suffer. what vendor would accept a currency that's gone up 1000% in a year? me.
Regretting selling anything when it reached 14k... do yall think the current price (16.3k) is a good price to buy back at, or will it keep falling?
As I said, every time it makes these crazy jumps where it increases 2x to 10x in value, I keep waiting for it to crash... It hasn't happened yet. Obviously that has to change eventually, but I wouldn't bet my life on a crash happening. $1 to $10 seemed insane. $10 to $100 seemed insane. $100 to $600 seemed insane. Betting on it crashing has been a sucker's bet for years.
I know, just looking at today's history. I spit out my coffee when I saw the price was 16.3k, so you can imagine my surprise when I saw it actually hit 19. What could possibly be triggering this massive growth?
But in this case, with futures trading on the horizon, it could very well be that the recent run over the last month has been investors and hedge funds pumping money in to inflate the price, only to short it on the back end for huge profits. Obviously speculation, but it can most definitely be the case.
Institutions pumping money in and making it look like a smart buy for the average Joe then to short it next week.
