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Showing posts from September, 2018

Is Bitcoin A Bubble?

  On 7th Dec, 2017 Bitcoin crossed a $14,000 barrier and within 10 hours of crossing that barrier it was being traded at outrageous price of $15,200. But, this wasn't the highest ever price. Just after few days bitcoin broke another record, on 17th Dec, 2017 its value soared to $20,000.    Ever since then value of Bitcoin has plunged to $6500.  Will it rise or fall further? Why it may rise ? Reason 1: If we study graphs of past 3 years it suggests us that Bitcoin starts gaining momentum in the month of October and maintains this bullish rally till 1st or 2nd week of january. Reason 2: Whales may start buying. Whales are holders of large amount of Bitcoin. They are major worry for investors as they are directly involved in speculation. It is considered that whales may start buying Bitcoin which will help to surge price Bitcoin. Why it may fall or burst ? Reason 1: The first thing that we should all remember is that Bitcoin is a currency. Treating Bitcoin as a commodity spoils th