Bitcoin In 2017 ‘Has Most Elements Of Bubble’: Forbes

in #bitcoin7 years ago

Bitcoin In 2017 ‘Has Most Elements Of Bubble’: Forbes

Forbes has declared Bitcoin’s 2017 price growth “has most of the elements of a bubble” and will ultimately burst.

Drawing similarities with conventional financial asset bubbles, Panos Mourdoukoutas writes that huge adopter interest will preclude a mass exodus, leaving hardly any value at all.

“Investors who have been around Wall Street long enough know all too well that when money becomes tight and investment promises aren’t fulfilled, bubbles and manias end; and millions made are lost much faster than they were made,” he wrote. “And then some.”

Talk of a bubble-like scenario in Bitcoin was a serious topic even within the cryptocurrency community this year.
Bullish opinions

Opinions varied widely, with commentators such as Vinny Lingham suggesting only too rapid price growth beyond $3000 would produce the danger of extremely volatility.

Others were more bullish, predicting a boom and bust cycle similar to Bitcoin’s November 2013 performance with the currency reaching ever new heights.

Forbes meanwhile suggests the current status quo is one where “investor hype” is already present but mass interest and mass “mania” have yet to appear.

“[...T]here’s one thing still missing to turn the bubble into mania: a broad participation beyond the ‘pioneers’ and the ‘early adopters,’ to ‘early majority’ along the Rogers Curve,” Mourdoukoutas continued.

“That’s when the demand for Bitcoin reaches a cascade and turns into mania, as a critical mass of investors rush to buy ‘hot’ Bitcoins for the promise they hold -- rather than for the fundamentals they display

Sort:  

Congratulations @cilixta! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @cilixta! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You got a First Reply

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @cilixta! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @cilixta! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard!


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @cilixta! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

The Steem community has lost an epic member! Farewell @woflhart!
SteemitBoard - Witness Update
Do not miss the coming Rocky Mountain Steem Meetup and get a new community badge!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.16
TRX 0.17
JST 0.029
BTC 69505.86
ETH 2493.71
USDT 1.00
SBD 2.54