Bitcoin or altcoin
Now considering what many people have been saying concerning bitcoin bubble. Now, an economic bubble or asset bubble is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value. Wikipedia. I need your opinion, is bitcoin actually a bubble?
I guess thats why the Bitcoin's price is so volatile. Its very difficult to say what one Bitcoin is worth. Its not tied to any commodity such as gold.
Its only a bubble if the price doesnt go back up.
@joes yes Bitcoin is not a bubble, it has been actually going up and down ie fluctuating. May be a bubble does not fluctuate .
I'm not an expert on economics or crypto, but I think depending on your definition you could say Bitcoin is a bubble if it does not reach and stay around at least, say, 12k in the next 6 months.
The reason being that Bitcoin reached 20k around 6-7 months ago (and was last at around 12k 3 months ago, but obviously it has dropped off a lot since then). So if it cannot sustain at near 50-60% of that peak within a year from said peak, than you might call it a bubble.
Right now it seems to be settling at 7 to 8k, which has obviously hurt a lot people. But with something like crypto, you never know. It's different from most things we've seen before A year or two from now it could be worth 30 or 40k then nobody would be talking about the "Bitcoin bubble".
@lucky777 may be for now ,bitcoin may be regarded as bubble simply because it has not been able to recover or stabilize to certain figure for a long period of time. What if bitcoin hit anothet milestone and stabilizes on there ?