Another Milestone: Bitcoin Blasts Through $12,000 USD

Discussion in 'Alternative Thought Forum' started by Helios, Dec 6, 2017.

  1. Helios

    Helios Apprentice Premium Member

    Original Poster
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    lot of people have been asking over the past few days whether or not Bitcoin is in bubble territory. One professional economist has come to the conclusion that Bitcoin is going to crash worse than the dot com bubble of the late 1990s.

    It's important to note a few differences between these cryptos and the stocks of the late 90s. First of all, Bitcoin, as a currency, is totally different than a web site. It's a means of exchange and not dependent on the same forces that affect stocks (and keeping shareholders happy). It's still dependent on supply and demand (as all currencies are) but cryptos represent an entirely new way of doing business in an already-established digital world, whereas the 90s tech boom was more about the uncertainties involved with going from brick and mortar business format to digital web-based platforms.

    There are still many significant risks involved with Bitcoin. Bitcoin has several limitations and other cryptos and software is being developed to improve the performance of the blockchain. Something better could get developed and take Bitcoin's place (though this isn't likely in the short term).

    The cryto world may experience a devastating pop, if in fact, all cryptos are in a bubble. However, it's important to note that as of today, the entire market cap for all cryptos is only about $350 billion. Compare that to the total market cap of the tech boom prior to the dot com crash, which was at 6 trillion when the bubble burst.

    Just a little perspective. But again, there are significant risks involved with Bitcoin. The most obvious is what happens if the power goes out? Never invest more than you can afford to lose.

    Live Bitcoin prices:

    Bitcoin (BTC) - Live Bitcoin price and market cap
     
  2. guest

    guest Guest

    Heh 6 hours later and this is old news already...

    Bitcoin just blasted past $15,000!

    How high can this keep going? It has to correct at some point, right? RIGHT!!??