Bitcoin is in a bubble, and here's how it's going to crash

[Anonymous No.3462034]

https://www.cnbc.com/2017/09/13/bitcoin-is-in-a-bubble-and-heres-how-its-going-to-crash-ron-insana.html

[Anonymous No.3462047]

>>3462034
lol read that guys profile, he's an absolute nutcase

[Anonymous No.3462049]

>>3462034
Only brainlets write articles about shit during major upswings or dips.

[Anonymous No.3462052]

>>3462034
>blah blah tulips
>blah blah Jamie Dimon
>blah blah OP is a faggot

[Anonymous No.3462055]

>Bitcoin is in a bubble, make no mistake.
>Bitcoin fails, or is at least suspect, as a currency in several ways: a storehouse of value, a unit of account and a medium of exchange.
>When excessive optimism far outweighs normal rational expectations, crashes occur — and this will be the case with bitcoin.

This CNBC site is going all out with FUD. Literally a new article every day.

[Anonymous No.3462082]

>>3462034
Time to buy.

[Anonymous No.3462114]

>>3462049
kek, this.
Oh Bitcoin is going down? Well, I'm an expert and Bitcoin is a bubble.

[Anonymous No.3462121]

>>3462047
>Ron Insana

[Anonymous No.3462127]

>>3462034
Lmao
>cheesy music
>like 2 random quotes saying "Bitcoin is bad"
>A chart of like 1 week of Bitcoin prices with headline "Bitcoin has fallen"
>It's still double what it was less than a month ago, and roughly equal to a week before
>More fake news that "China is banning all cryptocurrencies" posted by the fucking CNBC
>Right after they posted a bunch of articles saying Bitcoin will be headed to $5000 and beyond very very soon so "buy in NOW"

What kind of idiot falls for this crap? My fucking god.

[Anonymous No.3462129]

>>3462034
nothing has fundamentally changed for bitcoin, it's just Jamie Dimon shorting bitcoin and then releasing a statement about why bitcoin is trash.

[Anonymous No.3462135]

>>3462049

If the media can point out the top, they can point out the bottom

[Anonymous No.3462141]

>>3462127
I wonder who's behind this

[Anonymous No.3462156]

>>3462129
>>3462135
CNBC told literally everyone to buy into Bitcoin just a few weeks ago
Now it's back where it was a week ago and they scream "IT WAS A SCAM IT'S A BUBBLE".

This is such an obvious "fuck you" to normies and when they change the tune and scream "BITCOIN TO 10K THIS MONTH BUY NOW" again, EXACTLY like last time, normies will suddenly sperg to buy back in...even higher, again.

[Anonymous No.3462225]

>>3462034
>https://www.cnbc.com/2017/09/13/bitcoin-is-in-a-bubble-and-heres-how-its-going-to-crash-ron-insana.html

Honestly, I think it's over. This is only just the beginning. The incoming Chinese exchange ban isn't even official yet. All the mainstream media calling Bitcoin a bubble. There isn't any newcomers because of this. It's over.

$2000 by the end of the month, screen cap this.

[Anonymous No.3462253]

Crypto would be banned in the US by the end of this year.

[Anonymous No.3462394]

>>3462225
It's not official because it's never coming.

[Anonymous No.3462455]

>>3462225
That's the mid July dip level...little extreme. I guess it's possible, as long as China gov keeps everyone on edge, more and more people will mentally break down and sell.
You can bet your ass China wants to be on top of the blockchain game, so in the end everything'll be fine. If we're lucky we'll get another amazing bull run.

[Anonymous No.3462526]

>>3462034
I do believe Bitcoin is expensive but you NEVER trade against a trend

[Anonymous No.3462625]

>>3462156
link?
also every bubble is a credit bubble that had its plug pulled by (((creditors))). is btc a credit bubble? i think not yet

[Anonymous No.3462630]

The prediction I heard a while ago was btc would hit 5k then correct to 2800. A lot of people don't understand that's completely normal for btc. You don't need to worry about any of the fud. Just look at a day chart, scroll back through the history and you'll see it does this literally every single time it moons. Time to refuel and trade some shitcoins until we can take profits on the next moon.

[Anonymous No.3462671]

>>3462034
>cnbc

[Anonymous No.3462673]

>>3462625
I don't have many links by them but I remember a shitton of extremely bullish articles.

Here's an example:
https://www.cnbc.com/video/2017/08/15/heres-when-you-should-buy-bitcoin-according-to-one-trader.html

[Anonymous No.3462684]

>>3462034

>trusting mainstream media about bitcoin

lmao. i dont know if you noticed but the mainstream media have been shitting on bitcoin from day 1. it hasn't worked then and it won't work now

[Anonymous No.3462949]

Cue in the Bitcoin Obituary video.

[Anonymous No.3463196]

https://youtube.com/watch?v=daDxkG76zBU

[Anonymous No.3463225]

SHUT IT DOWN!!!

[Anonymous No.3463291]

I welcome a bubble.

- I already have 21 BTC, so if BTC ever makes it big, I'll be the top 1%.
- Get rid of some surplus technology/ICOs that is only in the game to make money and because they were funded with hype.
- Gets rid of weak hands, people only in crypto to make money, which reduces volatility in the long run and distributes more wealth to those with a libertarian mindset.
- Less regulation, because greater fools already lost money, and don't need the government to babysit their finances anymore.
- Can accumulate more BTC during a bear market, before it really explodes 2-3 years out.

The only two downsides I see of a bubble burst, is that:

- it will set the narrative for years to come, and normies will distrust crypto. We need normie buy-in to gain critical mass adoption. But we luckily don't necessarily need it right now, unless you are inter-month trading and shorting BTC.
- it gives more BTC to the few (rich cryptopunks and big banks alike). Big hedgefunds and banks can see through market swings and know BTC will be worth much more in the future. They also have the budget to accumulate. Cryptopunk whales that got rich of ETH and are in the game for years now, also have a better view of the market and can use downswings to their advantage. While these people are currently already in the financial elite, if crypto explodes, they will be the George Soros' of the new generations. Money and power corrupts. Crypto especially so.

[Anonymous No.3463297]

>>3462034

[Anonymous No.3463363]

This is a second chance for me to buy in and accumulate some BTC ETH and LTC. If I can make it to a couple of each of them by november I'll be set.

[Anonymous No.3463375]

>>3462034
OP is right

[Anonymous No.3463456]

>>3462034
i laughed my shit out watching this reasoning
thanks

[Anonymous No.3463735]

>>3463291
>21 million BTC (yes I know are lost)
>own 21
>21/21,000,000 = 0.01
?????

[Anonymous No.3463787]

>>3462034
If Bitcoin drops to 300 USD again I will literally buy 100 of them

[Anonymous No.3463880]

>>3463291
I can see some benefit you mention in all the recent happenings. Getting normies onboard is not a popular opinion around here - but it is necessary. If you could choose between normies or corporate fuckers it's not a complex choice

[Anonymous No.3464039]

>>3462034
>Most disruptive developments in technology and finance eventually inflate into speculative bubbles as investors and traders assume that the intrinsic value of these new vehicles will expand forever.
>The "Tulip Mania" in Holland in the 1630s to which Dimon alluded notwithstanding, history is replete with examples of how transformational technologies enter a highly speculative phase, leading to the creation of great riches for early investors but great risks for those who arrive at the party far too late.

Tulips?

[Anonymous No.3464193]

>>3462034
1. Write short, badly researched, usually inaccurate article mentioning Bitcoin.
2. Get hoards of Bitcoiners suddenly viewing your site.
3. Tell advertisers how popular your site is.
4. Profit.

[Anonymous No.3464413]

>>3463735
If I owned 1% of all 21m BTC there could be only a 100 of me to have it all. Final distribution of BTC will show a power law (or whatever uneven distribution). It already does: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html anything over 1 BTC puts you in the top 10% of wallets.

[Anonymous No.3464426]

>>3464039
wiki it

[Anonymous No.3464554]

>>3463196
stop promoting your shitting videos on here fuckface

[Anonymous No.3464556]

>>3464039

really activates my almonds

> Bitcoin is a bubble that like Tulip, South Sea, Dot.com or Subprime will burst'Bitcoin was a great experiment that provided a lot of useful learning. It will burst on Monday 12 December 2016.

> Some MIT-Educated Financial Analyst

> At this point, it's merely a speculative commodity, just like tulip bulbs centuries ago or even Beanie Babies more recently. . . . Bitcoin has peaked and is very unlikely to escalate significantly in value again. . . . It's basically an elaborate Ponzi scheme. . . . While I don't relish anyone losing money, Bitcoin basically went out of the way to make itself vulnerable. For this reason, it is destined to fail.

> Jan 2015 Forbes

> Bitcoin hype worse than 'tulip mania', says Dutch central banker. "This is worse than the tulip mania," he continued. "At least then you got a tulip [at the end], now you get nothing."

> Wellink's comments follow a warning from the Dutch Central Bank about the risks of virtual currencies like bitcoin, which fall outside Dutch financial supervision laws.

> “The exchange rate is volatile and there is no central issuer which may be held liable,” the bank warned. It also cautioned that the country's deposit guarantee scheme "does not apply.”

> The Guardian 4 December 2013

[Anonymous No.3464597]

those fucks they know the big threat is Bit Coin to them and their taking every shot they can to bring it down f them we are going to them Moon and I bet those little fucking weasels are holding Bit Coin secretly and buying in the dips

[Anonymous No.3464627]

In December 2013 BTC Price crashed to $600, rebounded to $1,000, crashed again to the $500 range. Stabilized to the ~ $650–$800 range.

Stock trading does 12% for a good year.

[Anonymous No.3464651]

In March 2015 the price of 1 BTC had fallen to 200$-300$.

[Anonymous No.3464660]

>>3462156
>bitcoin hits 5K
>buy bitcoin, 10K by 2020!

>bitcoin hits 4K
>it's a scam guys, I'm calling it now!

[Anonymous No.3465580]

>>3462034
>>3462034
Not before 100k, Jamie

[Anonymous No.3465621]

>CEO who had a commanding role in orchestrating the housing bubble decries a successful cryptocurrency outside of (((their))) control as a bubble

I mean, I see no problems with this.

[Anonymous No.3465623]

wtf I hate bitcoin now