Bitcoin - The YUGE bubble
Updated
Some people believe that BTC is overvalued and some believe it's undervalued. The one who considers Bitcoin is overvalued is referring Bitcoin as a bubble but still want to buy it, whereas the one who considers Bitcoin is undervalued because it still has not reached the point of global adoption are the one who speculates the market. Whereas BTC chart is no different than others and every chart is different on each exchange. Honestly, only a strong person with patience can gain "Yuge" profit in the market basically from rumors and news. Obviously, it's all speculation before the market adoption.
For cryptocurrency, Twitter is working as the primary source of information while 90% investor really doesn't understand blockchain and probably 30%-50% more or less never invested in stock market.
Hopeless romantic :
Myth: Macafee will make you rich or otherwise he will cut his crap? Really?
Fact: There's no source of legit information, one Tweet from Macafee wouldn't make you rich.
Technologically novice :
Myth: Ethereum is better than Bitcoin?
Fact: UTXO are the currency while Ethereum is a smart contract, both have a different purpose.
Blame game :
Myth: Futures are manipulating the market.
Fact: They are hedging but still BTC contracts not worth more than just the Oil contracts. "That's how the market works" Accept it.
The bubble is everywhere, we can't say BTC is in the bubble or cryptocurrency is the bubble. The Blockchain is promising technology but still need to prove itself. For now, let's play the " YUGE" speculation before we get the final product for the generation "Z".
J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC) remarked,
“It strikes me that we owe it to this generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.” He did urge, however, that regulators “must crack down hard on those who try to abuse enthusiasm with fraud and manipulation.”
For cryptocurrency, Twitter is working as the primary source of information while 90% investor really doesn't understand blockchain and probably 30%-50% more or less never invested in stock market.
Hopeless romantic :
Myth: Macafee will make you rich or otherwise he will cut his crap? Really?
Fact: There's no source of legit information, one Tweet from Macafee wouldn't make you rich.
Technologically novice :
Myth: Ethereum is better than Bitcoin?
Fact: UTXO are the currency while Ethereum is a smart contract, both have a different purpose.
Blame game :
Myth: Futures are manipulating the market.
Fact: They are hedging but still BTC contracts not worth more than just the Oil contracts. "That's how the market works" Accept it.
The bubble is everywhere, we can't say BTC is in the bubble or cryptocurrency is the bubble. The Blockchain is promising technology but still need to prove itself. For now, let's play the " YUGE" speculation before we get the final product for the generation "Z".
J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC) remarked,
“It strikes me that we owe it to this generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.” He did urge, however, that regulators “must crack down hard on those who try to abuse enthusiasm with fraud and manipulation.”
Note
It's all about Math.
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