from Hacker News

Bitcoin, the Biggest Bubble in History, Is Popping

by samsgro on 4/10/18, 3:24 PM with 31 comments

• by andrepd on 4/10/18, 4:26 PM

  What a silly article. The metric they use for reaching the conclusion that bitcoin is the biggest (??) bubble in history is... peak multiple of an arbitrarily defined "starting value"...

  I don't know what's worse, the cargo cult of bitcoin or the reactionary hate.

• by Pxtl on 4/10/18, 4:28 PM

  Viewed on a logarithmic scale it looks like an adjustment back to the trend-line:

  https://blockchain.info/en/charts/market-price?timespan=all&...

• by hapnin on 4/10/18, 3:38 PM

  Bitcoin is worth 5x what it was this time last year. BoA is huffing glue.

• by TekMol on 4/10/18, 4:31 PM

  That's the most absurd article ever. With 3 lines of text and laughable graph. "Years from peak". There have been so many peaks in the history of Bitcoin, what is the reason to think this is the final one? No word on that.

  But hey, let's talk about Bitcoin? Why not! It's super interesting. I think there is not enough real debate about it on HN!

  I think we are facing a massive wave of change due to the crypto technology that is currently developed. I expect it will be as big or bigger then the internet. But I am skeptical about Bitcoins share in the long run. I doubt we really need the mining. I expect that there will be new technologies that enable crypto without proof of work. And they will become strong competition to Bitcoin.

  However, the market is so enormous that even with a small market share, Bitcoin could be worth the $100B it is currently traded for.

• by 21 on 4/10/18, 4:27 PM

  If the Internet is a series of tubes, well, Bitcoin is a series of bubbles.

• by jmagaro88 on 4/10/18, 4:25 PM

  Sounds like it's time to buy.

• by eaandkw2 on 4/10/18, 3:31 PM

  Good. Maybe I can start shopping for graphics cards again.

• by 21 on 4/10/18, 4:29 PM

  One important thing to know that many are not aware, is that banks don't trade on their public research. Because it's useless. Nobody made any money trading banks research ever.

  If you have a real investment idea, you don't broadcast it to the world.

• by gota on 4/10/18, 4:29 PM

  Is it 'popping' or has it popped? The other example bubbles don't all drop to zero. Notably that 'gold' bubble (that I admit I've never heard of). I'll say it has popped with certainty only when it's been years and the price hasn't risen again.

  Also what's with the Mississippi Company value having distinctive step-like patterns? I assume they represent the banks refusing to pay for long periods

• by 411mrc on 4/10/18, 4:29 PM

  This kind of volatility is nothing new for Bitcoin. This kind of volatility in an asset with that market cap is fairly rare.

• by thisisit on 4/10/18, 4:38 PM

  Is it just me or does that read - Mulriple from starting levels? If yes, that is some poorly written and edited report.