Bitcoin is in a bubble, and here's how it's going to crash

If the media can point out the top, they can point out the bottom

I wonder who's behind this

CNBC told literally everyone to buy into Bitcoin just a few weeks ago
Now it's back where it was a week ago and they scream "IT WAS A SCAM IT'S A BUBBLE".

This is such an obvious "fuck you" to normies and when they change the tune and scream "BITCOIN TO 10K THIS MONTH BUY NOW" again, EXACTLY like last time, normies will suddenly sperg to buy back in...even higher, again.

>cnbc.com/2017/09/13/bitcoin-is-in-a-bubble-and-heres-how-its-going-to-crash-ron-insana.html

Honestly, I think it's over. This is only just the beginning. The incoming Chinese exchange ban isn't even official yet. All the mainstream media calling Bitcoin a bubble. There isn't any newcomers because of this. It's over.

$2000 by the end of the month, screen cap this.

Crypto would be banned in the US by the end of this year.

It's not official because it's never coming.

That's the mid July dip level...little extreme. I guess it's possible, as long as China gov keeps everyone on edge, more and more people will mentally break down and sell.
You can bet your ass China wants to be on top of the blockchain game, so in the end everything'll be fine. If we're lucky we'll get another amazing bull run.

I do believe Bitcoin is expensive but you NEVER trade against a trend

link?
also every bubble is a credit bubble that had its plug pulled by (((creditors))). is btc a credit bubble? i think not yet

The prediction I heard a while ago was btc would hit 5k then correct to 2800. A lot of people don't understand that's completely normal for btc. You don't need to worry about any of the fud. Just look at a day chart, scroll back through the history and you'll see it does this literally every single time it moons. Time to refuel and trade some shitcoins until we can take profits on the next moon.

>cnbc

I don't have many links by them but I remember a shitton of extremely bullish articles.

Here's an example:
cnbc.com/video/2017/08/15/heres-when-you-should-buy-bitcoin-according-to-one-trader.html

>trusting mainstream media about bitcoin

lmao. i dont know if you noticed but the mainstream media have been shitting on bitcoin from day 1. it hasn't worked then and it won't work now

Cue in the Bitcoin Obituary video.

youtube.com/watch?v=daDxkG76zBU

SHUT IT DOWN!!!

I welcome a bubble.

- I already have 21 BTC, so if BTC ever makes it big, I'll be the top 1%.
- Get rid of some surplus technology/ICOs that is only in the game to make money and because they were funded with hype.
- Gets rid of weak hands, people only in crypto to make money, which reduces volatility in the long run and distributes more wealth to those with a libertarian mindset.
- Less regulation, because greater fools already lost money, and don't need the government to babysit their finances anymore.
- Can accumulate more BTC during a bear market, before it really explodes 2-3 years out.

The only two downsides I see of a bubble burst, is that:

- it will set the narrative for years to come, and normies will distrust crypto. We need normie buy-in to gain critical mass adoption. But we luckily don't necessarily need it right now, unless you are inter-month trading and shorting BTC.
- it gives more BTC to the few (rich cryptopunks and big banks alike). Big hedgefunds and banks can see through market swings and know BTC will be worth much more in the future. They also have the budget to accumulate. Cryptopunk whales that got rich of ETH and are in the game for years now, also have a better view of the market and can use downswings to their advantage. While these people are currently already in the financial elite, if crypto explodes, they will be the George Soros' of the new generations. Money and power corrupts. Crypto especially so.

...

This is a second chance for me to buy in and accumulate some BTC ETH and LTC. If I can make it to a couple of each of them by november I'll be set.

OP is right

i laughed my shit out watching this reasoning
thanks

>21 million BTC (yes I know are lost)
>own 21
>21/21,000,000 = 0.01
?????

If Bitcoin drops to 300 USD again I will literally buy 100 of them

I can see some benefit you mention in all the recent happenings. Getting normies onboard is not a popular opinion around here - but it is necessary. If you could choose between normies or corporate fuckers it's not a complex choice

>Most disruptive developments in technology and finance eventually inflate into speculative bubbles as investors and traders assume that the intrinsic value of these new vehicles will expand forever.
>The "Tulip Mania" in Holland in the 1630s to which Dimon alluded notwithstanding, history is replete with examples of how transformational technologies enter a highly speculative phase, leading to the creation of great riches for early investors but great risks for those who arrive at the party far too late.

Tulips?

1. Write short, badly researched, usually inaccurate article mentioning Bitcoin.
2. Get hoards of Bitcoiners suddenly viewing your site.
3. Tell advertisers how popular your site is.
4. Profit.

If I owned 1% of all 21m BTC there could be only a 100 of me to have it all. Final distribution of BTC will show a power law (or whatever uneven distribution). It already does: bitinfocharts.com/top-100-richest-bitcoin-addresses.html anything over 1 BTC puts you in the top 10% of wallets.

wiki it

stop promoting your shitting videos on here fuckface

really activates my almonds

> Bitcoin is a bubble that like Tulip, South Sea, Dot.com or Subprime will burst'Bitcoin was a great experiment that provided a lot of useful learning. It will burst on Monday 12 December 2016.

> Some MIT-Educated Financial Analyst

> At this point, it's merely a speculative commodity, just like tulip bulbs centuries ago or even Beanie Babies more recently. . . . Bitcoin has peaked and is very unlikely to escalate significantly in value again. . . . It's basically an elaborate Ponzi scheme. . . . While I don't relish anyone losing money, Bitcoin basically went out of the way to make itself vulnerable. For this reason, it is destined to fail.

> Jan 2015 Forbes

> Bitcoin hype worse than 'tulip mania', says Dutch central banker. "This is worse than the tulip mania," he continued. "At least then you got a tulip [at the end], now you get nothing."

> Wellink's comments follow a warning from the Dutch Central Bank about the risks of virtual currencies like bitcoin, which fall outside Dutch financial supervision laws.

> “The exchange rate is volatile and there is no central issuer which may be held liable,” the bank warned. It also cautioned that the country's deposit guarantee scheme "does not apply.”

> The Guardian 4 December 2013

those fucks they know the big threat is Bit Coin to them and their taking every shot they can to bring it down f them we are going to them Moon and I bet those little fucking weasels are holding Bit Coin secretly and buying in the dips

In December 2013 BTC Price crashed to $600, rebounded to $1,000, crashed again to the $500 range. Stabilized to the ~ $650–$800 range.

Stock trading does 12% for a good year.

In March 2015 the price of 1 BTC had fallen to 200$-300$.

>bitcoin hits 5K
>buy bitcoin, 10K by 2020!

>bitcoin hits 4K
>it's a scam guys, I'm calling it now!

Not before 100k, Jamie

>CEO who had a commanding role in orchestrating the housing bubble decries a successful cryptocurrency outside of (((their))) control as a bubble

I mean, I see no problems with this.

wtf I hate bitcoin now