12 upvotes, 2 direct replies (showing 2)
View submission: Don't invest recklessly
Ah, yes. The classic "New Paradigm".
https://blogs-images.forbes.com/jessecolombo/files/2014/02/stages_bubble.jpg
Just because Bitcoin is an amazing and revolutionary technology (perhaps even quite literally "revolutionary" in that it might cause entire countries to collapse!) doesn't prevent it from having classic bubbles. It only means that the resulting crash *probably* won't send the price back below the initial base of the bubble, in this case ~$1000. Everything down to that point is *highly likely*, not because Bitcoin isn't totally incredible, but because there is currently a massive gap between what the changes to the fundamentals would indicate the price to be and the insane speculative levels we are at right now.
Comment by [deleted] at 30/11/2017 at 06:26 UTC
2 upvotes, 1 direct replies
What's sad is that advice like this will fall on deaf ears. This subreddit has become a giant echo chamber plain and simple. I do fear for those who blindly buy into the the HODL mentality with their entire lifesavings. Bubbles can be some cold-hearted bitches.
Comment by jaumenuez at 30/11/2017 at 08:31 UTC
-1 upvotes, 2 direct replies
I don't see that "typical" bubble curve here. Where is it?
