I have been holding BTC for several years
and I have heard several times that:
"Bitcoin is a Bubble"
If bubble is defined quantitatively as an exponential increase
in price over a short period of time.
Then yes, it is a bubble.
From a qualitative perspective I do not think so.
Volatility all the time will be expected
but Bitcoin will continue to have an upward price.
Where is the Bubble !!
All of us know, Most current holders of Bitcoin, don’t want to sell their Bitcoin, so any increase in demand for Bitcoin tends to induce a large price increase, because there are not many sellers willing to meet this demand.
I would argue structurally it differs in key areas from true bubbles, with the continuing price swings reflecting a combination of low availability and lack of liquidity.
Near term Bitcoin has certainly been impacted by the positive self reinforcing loop that is a feature of all bubbles, so the continuing rise in price reflects what it takes to pry coins out of the hands of existing holders.
This explains why generally there has been a floor to all corrections, because most of holders believe:
"Bitcoin will change the world."
As long as this structure persists, Bitcoin will continue to have an upward price with substantial volatility along the way.
Where is the Bubble !!
Never was and never will be bubble.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
What You Know About --> Fibonacci Retracement in Trending Market.
If You Are New Steemain Read --> Get Started Fast with Steemit.
If You are New in Forex --> Read Forex Education Center / Volume I.
If You Feel Invisible on Steemit --> Come and hang with us.
What You Know About --> Syrian Civil War.
