It feels like late 2013 again

It's just grown way too fast this year in a very short time. Anyone with experience in trading this shit knows from the past what can happen.

Mt. Gox is something a lot of new investors in this seem to have forgotten, and I am by no means suggesting this will happen again, but I just don't want to risk the idea of it.

Basically, a market that can go up this fast, can easily come down just as fast, as we all know.

I'm basically just saying that I find history can repeat very easily, and this current trend is no exception to the fact.

Alts are always a risk, but it's good to be diversified in the cryptos. Bitcoin has the name, but that doesn't mean the some day or year in the distant future, that other alts won't rise up much higher.

I'd be careful. A lot of people made big money on alts in 2012-2013 period, but many of them lost A LOT as well. They're far more risky than BTC overall since so many are just copies with very little innovation.

I expect it will drop big league. People don't want to believe it because they have the greed mindset and are all generally excited because of the huge gains its made over the past year, but I've seen this before, as have many others. It will definitely collapse eventually.

its a bubble and it may burst any day or it may last little longer than previous one

every single shitcoin has the same long term graph now

this place is now 95% filled with crypto shills

only question is can you suppress your greed in time

i don't think it's a bubble. it's called mainstream adoption. however, cyclical corrections will become more and more frequent. anyway, we will all know what's gonna happen after 1st august

Jury's still out for aug 1st. Seems like half think btc will moon, half think there will be a month long bloodbath.

I only have good alts. ETH, XRP, ANT, GNT, STRAT, BNT
and DGB :DDD (it was a mistake)

It's weird because I see advocating this "hold whatever you buy for 3 years" idea, as though it won't ask come crashing down soon.

I pray to God this is true. I need more.

If you don't think this is a bubble you're definitely very new.

If you think this is "mainstream adoption" you're also extremely new.

Bitcoin has been well out in the open since 2012-2013, it was well known by normies then when the last bubble occured. Right now it's over twice it's last peak, it will not last.

People just have a short memory but anyone whose been into this shit since 2010 knows exactly what can happen.

It's a bubble and it will pop, but it won't be like some people think. Newfags don't realize that when Mt Gox happened, it actually took an entire year for the bear market to hit its lowest point, and there were still many pumps and drops in the first few weeks of the pop. Even if something catastrophic happened today, there would still be opportunities to get out with relatively minimal losses.

fuck off with your longterm shill

The big difference is that circa 2010-2013, there were few exchanges and the biggest one fucked over the majority of traders. Today exchanges are often FDIC-insured, licensed, etc, and it's trivially easy to buy and trade. I don't disagree that it's a bubble, but aside from another Mt Gox-tier event (and it would have to be multiple Mt Goxes since the market is bigger now), there will still be a steady influx of newbies/latecomers buying in, as well as ATH-buyers sticking in to minimize losses.

>it FEELS like...

This. I'm more afraid of the feds bringing down the hammer.

If you actually look at the Bitcoin chart in late 2013 it "crashed" over the course of a year.

It wasn't an overnight thing, it took literally 5 months for it to lose 50% of it's value.

If you're not a shit trader you should be at least doubling your BTC stack every month, even more so with all those delicious bear-market panic sells. So you'd still be earning shitloads during this dreaded 'crash'.

For illustrative purposes

This. Entirely different landscape now but we could still see a bigger correction than dwarfs what we have been seeing. BTC itself I don't have a massive problem with, but there is a lot of value in ALTs right now that may be looked on in a different light once the general hype slows.

THIS 1 million times

What makes you think it's a bubble though? 100 billion is nothing in the grand scheme of things. The only bubble I see right now is Etheruem and it's ICOs and the numerous shitcoins that will eventually die and have no value.

Like that other user said it's not really a problem, if you're working against for ex the BTC or some other coin you want going forward the fiat values are largely irrelevant. In my eyes the launch was premature, all I'm doing now is positioning for the real moon mission.

Wasn't the 2013 crash initiated from the Mt.Gox hack and people losing their bitcoins ?

this

Many people have a vague idea that bitcoin/crypto exists, but very few people are actually using it, either to speculate or as a utility.

I think there's still a lot of room for the general public to get in on this and drive prices up further before the bubble truly pops.

You think you're being too cute for the SEC. You're wrong. Just an FYI, they are a lot closer than you think.

The sheer rate at which its value has increased, thanks to the media hysteria around it. I do agree that BTC is one of the more stable (as long as Aug 1st goes off without a hitch which I think it will), and that ETH will probably crash harder, but you can't deny that many people are buying in with no idea what a blockchain even is, let alone any strong belief in the system. I'd bet that at least a third of the money in BTC right now is purely for speculation.

Some charts are more concerning than others, I don't want to keep bringing up BTC but that 1Y chart doesn't worry me as those of some shitcoins.

I also wouldn't be overly worried with something like ETH correcting up closer to BTC but the big ICO hype could account for too much of the reason it has done so, could be a problem unless one of these fucking things can validate itself before the smoke appears.

Honestly speaking what is the probability of a huge correction come aug 1?

There's going to be a huge spike, over 5k. Why do you think they're trying to scare you into selling now?

Yes, but bitcoin is on the verge of forking and also us law makers just proposed a bill which could tank the price in the next few weeks.

wtf i hate bitcoin now

I don't disagree with that either. Every time there is a large correction, the market cap recovers fully and then adds on a several billion more to spare. We *could* see $5000 BTC or $1000 ETH or something else in the next couple months, but wherever the bubble's top is, it's still a bubble.
The bill is a non-issue though. It could fuck up one's short-term trading, but it will just be a blip of fearmongering in the grand scheme of things.

Why would there be a huge spike..? Sounds more like you are trying to convince people there is nothing to worry about so they don't tank your holdings..

>No market goes up forever
You fookin' shittin' me mate.

There is no reason for anything to happen "ON" august 1, likely a build up on the market betting the fork goes well, then small or big dump depending on how it actually goes. See ETF drama.

im a newfag in crypto, got in during late march when pivx started this shit and i think this kind of growth is unsustainable. but i dont know shit

>mfw it actually goes up. FOREVER.

yea i meant after aug 1. so you think it would be wise to cash out a portion of my portfolio late july just as insurance incase a big dump happens?

Something like 1 in 5,000 to 1 in 10,000 are using bitcoin now.

There are significant retailers accepting bitcoin now like Newegg, Lamborghini, but no real powerhouse. Right now, you can exchange bitcoins for gift cards at Amazon / etc., but the big retail players are not taking bitcoin directly.

After August 1st resolves the throughput issues of transactions on the blockchain, everyone will know that it is stable going forward and the community can execute necessary changes.

Then, you will see major retailers piling on. Bitcoin $10,000 in less than a year.

The following year will see mass normie adoption, bitcoin will look like it is headed for $100,000 and be under threat of regulation but it will be too late. There will be $320B worth of bitcoins by $20,000 and too much lobbying interest to protect it for the banks to overcome.

I would say just make your call on how the fork will go and stick to that

Go ahead and sell now then, I don't care. But segwit has passed a ton of internal testing and it's going to drop transaction time to below ETH. Already been proven with internal models.

I personally expect it to dump again over the next few days. Whales manipulated the price up with fake buy walls and it "recovered" too quickly. My guess is they did this to push the alts in the red again and will start dumping BTC soon. The sell walls to $2800 is bigger than the buy walls to $2200.

>no real powerhouse
Overstock accepts bitcoins, and they are huge:
overstock.com/bitcoin
The fire has already started.

normal to fear

but if you look at the number the total market cap has nearly doubled in a month

I second this graph. and i think the growth trend afterward is accurate as well.

Overstock has

I'm definitely considering selling at this point. If it keeps dumping like it's been for the last few hours I might. It doesn't seem stable at all now and I don't know what to think.

it's shady. be careful

this is wrong

during the tulip bubble the tulip supply didn't increase significantly. it might as well have been limited

also, eth is deflationary even if it's not limited. the supply just needs to grow slower than global gdp

What's shady is whales putting up 75 btc buy walls they have no intention of buying to push up the price. Also looking at the chart on GDAX the sell wall is twice as big to 3k as it is to 2k. People are lined up waiting to dump right now.

I would have agreed with this a few weeks ago, but after seeing the crazy buying pressure after may 25 correction I think there might be enough new money constantly flowing in to keep this thing going yet.

>bitcointicker.co/

2000 coins to $3000

3400 coins to $2000

It comes down to herding. The 'normies' and trend chasers have come into crypto seeing 50%, 100%, 200% gains, and that's what they expect. When they see minimal / nothing / slight losses, they're reality model won't match expectations, and they'll pull their capital, but more importantly, pull their credit.

The main risk factor isn't that bitcoin goes down, it's that bitcoin stops going up.

Basically, most of the price increase in bitcoin, like any asset, is because of credit & leverage, not 'money' per se. People leverage to buy phat long stacks of BTC, price goes up, price increase covers the interest, no problems.

Problem is, price stops going up, maybe it just plateus for 3 months. So people stop buying on credit, they can't because they're tapped anyway, but not only that, then people begin to unwind their levered positions, this creates more supply, less sellers, price goes down, this drives more levered people out, price goes down more, everyone follows everyone, crash occurs. Also a crash isn't overnight, it happens over like a year.

Will this happen? No fucking idea. If shit with North Korea goes south, bitcoin will moon even fucking harder, if the hard fork is a 'thing', it will potentially deflate it, etc. Right now the risk to me seems more downside than upside, the odds of it doubling are lower than it halving, that's why I'm out for the moment.

BTC isn't going anywhere. It's the shitcoin bubble that's about to pop.

Seriously, where is all this money coming from? Whales buy up the entire supply during ICOs then resell for 10-100x what they paid. Are there that many bag holders sitting on mountains of worthless shitcoins, dreaming about how they're going to the moon any day now while sitting on tens of billions of dollars of real world debt?

you seriously replying logically to a pajeet btc shill?

There are too many exchanges now. There is no single point of failiure for crypto.

not only are there hundreds of different cryptos, they operate across dozens of exchanges and hundreds of jurisdictions.

There is nothing that can stop it apart from some kind of United Nations global sanctions.

I think a lot of people have gone 80-100% into shitcoins because of the rapid gains. It's going to be real ugly here if/when shitcoin bubble pops and btc goes to 10k.

>There is nothing that can stop it
the mass realization that these shitcoins are worth nothing and aren't tied to the blockchain revolution.

>if/when shitcoin bubble pops and btc goes to 10k.
This will literally never happen. If BTC moons, shitcoins will lose value only relative to what could have been made going to BTC (but because most shitcoins are valued in BTC, it still means winning regardless). It's the BTC bubble popping that will really kill shitcoins in the long term.

People don't buy shit with ETH and other alts (with the exception of XMR). Investment is purely speculative. For this reason, I think that when the bubble pops many of the alts will just die on the floor, and most will suffer severe setbacks

"Buy the fucking dip"

it just means you buy the dip you fucking retard

did you plan to cash out and need the funds in the next few years? If no, then you buy the fucking dip idiot

Yeah right, there were people who accumulated coins in 2014-2016 and got rich now. Some Veeky Forumsfag I think who posts the Monochrome anime girl accumulated 150 million beans and is a multimillionaire now. He already stop posting, hoping the IRS won't track him. Year 2013 was an experimental stage, and in 2017 we see full integration of big companies going from traditional stocks to cryptocurrency; which means that all problems in 2013-2014 were already solved and cryptocurrency is finally seen as "something to be taken seriously"

>there are people in this thread who haven't cashed out the majority or all of their btc
>not realizing the shit storm that's brewing
Some of you are alright, but many of you are fucking retarded

I feel like these last two crashes are just a glimpse of what's coming soon.

Add I'll be there to buy.

and to lose and wait 3 years for the next bubble

>three years
this shit has been getting speculation with increased frequency. It will literally happen again toward the last quarter of 2017

Don't come crying later faggot.

Maybe but as the profit margins get smaller and the risks get bigger there will inevitably be less investors. I honestly feel like it's more likely bitcoin goes back down to 2k at this point then reaching 3k again in the near future.

1. BITCOIN HAVE LIMITED QUANTITY, IN DIFFERENCE FROM TULIPS, DOLLARS AND Ethereum
2. GOLD EXACTLY SAME A PYRAMID SCHEME AS A BITCOIN BUT ALREADY ABSORB ALL IN
3. CURRENT CAPITALIZATION OF THE BITCOIN 35,788,210,511 USD
FOR EXAMPLE RUSSIAN BILLIONER ALISHER UZMANOV MAY BUY THE HALF OF ALL BITCOINS
USA MILITARY BUDGET - 611,000,000,000 USD
USA DEBT - 18,984,100,000,000 USD
GOLD IN THE WORLD 31553,2 TONS = 1,278,960,782,690 USD
BITCOIN SIMILAR TO GOLD FOR ACCUMULATION AND SIMILAR TO DOLLAR FOR MONEY TRANSFER
THE ONLY THING THAT PREVENTS THE BITCOIN FROM BECOMING A WORLD CURRENCY IS ITS LOW COST
AT THE PRICE OF 10,000,000 USD FOR 1 BITCOIN IT ALREADY CAN REPLACE DOLLARS
-----------------------------------
TYPICAL PROBLEM FOR BILLIONER: TO BUY APARTMENT FOR 15 YEARS ASIAN GIRLFREND
FOR EXAMPLE YOU - BILL GATES
YOU HAVE MONEY IN THE BANK
YOU CAN NOT DO ANYTHING WITH THIS MONEY, YOU CAN NOT TAKE TONS OF CASH. GOLD IS VISIBLE ON METAL DETECTORS AT THE AIRPORT
BEFORE PAYING SERIOUS MONEY, YOU NEED TO RECEIVE THE APPOINTMENT PERMISSION AND PAY THE TAXES
AND IF JOURNALISTS SEE WILL BE THE SCANDAL
WITH BITCOIN THERE IS NO PROBLEM
WITH BITCOIN ONLY PROBLEM IS BITCOIN LOW PRICE AND LOW BITCOIN AMOUNT IN INTERGENERAL ARBITRATION
-----------------------------
HERE IS THE DIAGRAM:
ibb.co/h8HDiF
BITCOIN PRICE WILL RISE, LIQUIDITY WILL INCREASE, APPLICATION WILL BE EXPANSIONED
THIS IS THE EGYPTIAN PYRAMID AND NEVER WILL BE RUINED

and if you think that there's no difference between the "mainstream adoption" of 2013 and the mainstream adoption of 2017 then you're extremely retarded

Mainstream adoption doesn't mean a bunch of people buying it trying to get rich quick..

OP, I dont give a fuck how you "feel"

fuck off pajeet

I cashed out a chunk already and will be half cash half coin the day after the next byteball drop comes along.

I'll take a smaller gain any day of the week over the risk of watching my gains disappear.

Gambling 50pc on bitcoin, 30 eth 20 ltc.

Oh and an few bitbeans because I was charmed by biz, I will hold them forever.

i dont understand why this is a bad thing
>bubble happens
>bubble happens again
What makes you think bubbles are just going to stop happening.

Why not try to get Veeky Forums to stabilize the price collectively somehow?