Is bitcoin a bubble? A graphic that scares
The price of the btc had surpassed the $ 4,900, after rising more than 500% so far this year.
The bitcoin has just reached $ 4,700 this week, which is equivalent to a 500% increase so far this year. The strong rise recorded in the last weeks is due to the recent division in two that led the digital currency in the original bitcoin and a new and cheaper derivation called bitcoin cash and the buying fever that is occurring in some countries, example, Japan. The main advantage of bitcoin cash is its new software that allows for faster transactions. The possibility that the bitcoin system can manage a greater volume of transactions and at a faster rate also increases its attractiveness as a digital currency.
But this novelty only explains the last revaluation of the cryptonnet. In 2009, for example, 5,000 bitcoins could be purchased for less than $ 24, with a current value of $ 23.5 million. Also, if you bought $ 500 in bitcoins in 2013, you would have about $ 42,500 today.
Although its volatility is very high, with large and sudden ups and downs, the issue is that the brief history of bitcoin has become one of the fastest and most intense revaluations in recent history, far superior to that of other similar stock events , as reflected by analyst and investor Jonathan Tepper in the next tweet. The rise in bitcoin far outweighs both the speed and the size of the Nasdaq bubble in the 1990s, the mortgages of the late 1990s and early 1990s, or the oil and silver markets of the early 1900s .
SEVEN Reasons Why Bitcoin is NOT in a Bubble
https://steemit.com/news/@justastic/seven-reasons-why-bitcoin-is-not-tulip-mania
I read BTC to $6000 by the end of the year and $13,000 by 2/18. Less than 1% of people know about it, when we hit 3%, prices will go to the moon.
People have to understand that bitcoin is already a #CurrentDigitalCurrency that is kicking gold where the Sun doesn't shine. I mean let's face it, who ever has the money, has the power, with the money one could easily get their grubby hands on those bitcoins LOL, and literally build his / her own financial dynasty from the ground up. That's how a lot of businessmen and women did it, except money was the standard currency at that time.
Bitcoin will continue to grow in digital worth, that's why it important for new people that jump on Steemit before the value of the steem dollar [ESPECIALLY BITCOIN, LITECOIN] start to reach sky-level proportions.
Another thing I like about it is the ability to invest into it like a 401k Plan.
Which is bad ass in itself I say. #RetiredLife is what that can set you up for!
Disclaimer: I am just a bot trying to be helpful.
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Awesome article, i have similiar view, Bitcoin might be in a bubble, an a lot of other cryptos might be also, but there are some that would survive the bubble. For example Ethereum offers something more than just transfer of value and therefore has some real case uses. Bitcoin transactions are too expensive and take too much time, so you can't even comfortably by a coffee for it. I believe in IOTA, which has zero cost transactions and is much is capable of much larger transaction volume than bitcoin. If you want to know more about it, checkout my steemit post about IOTA