People make a lot of decisions that fills them with regrets in the long run. Bitcoin was once an affordable investment to now a high-end one. Many were not sure what they could do with it and now they are telling themselves that they should have invested in them in the past. We have seen its value go up and down couple of times but it recovered.
Now that it is at around $7500 to $8000 a piece, do you think the current price range bubble would continue to rise or it would drastically burst in the years to come?
This is a mistaken notion. Bitcoin is as affordable an investment as ever. Before, you could buy $100 of bitcoin, and now you can buy $100 of bitcoin.
You don’t need to buy a full Bitcoin, it’s not a share of stock.
We’re not in a bubble. The end of 2017 was a bubble, as price approached $20,000. That bubble burst and price collapsed to below the fair value in an overreaction, which is common. We’ve now recovered from the lows of the collapse and we’re at a modest gain on one-year levels.
The general case for Bitcoin, long-term, is as bullish as ever. The short-term case will depend on the events of the day.
Those who say that Bitcoin is a new soap bubble just afraid of new technologies. Yes, some people may speculate on its popularity, promise mountains of gold. But the objective reality is such that blockchain becomes stronger, closer to real life. I think in the new world of the future we will all use bitcoins and their alternatives instead of paper money, and central bank money.
So the question is bitcoin a bubble my answer is “NO”.
It’s probably the real thing. When the price of Bitcoin is this high usually the price evens out over the rest of the alternative cryptocurrencies, so I would expect the market capitalization of Bitcoin to stay about even while people invest into altcoins.