• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin
Bitcoin bubble
Advertisement

Predictable Bitcoin Bubble Rants Begin Again as BTC Booms

Martin Young by Martin Young
4 years ago
in Bitcoin
0
Advertisement

Nothing grabs the attention more than an epic price pump of any asset. Bitcoin is no different; however the groups of those against it, probably because they don’t comprehend it, are starting to emerge from their caves hollering about bubbles once again.


Bitcoin Is A Bubble … Again

We heard it all before in 2017; ‘Bitcoin is a bubble that will burst’. Granted, BTC did fall over 80% the following year but has since recovered back to just 45% in the past few months. Since its bottom of $3,200 in mid-December, bitcoin has made over 250% to current levels and does not look like stopping there.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Naturally, its energetic performance over the past few months has riled the rafts of those that still hold the opinion that BTC is a speculative bubble. American libertarian, stockbroker, financial commentator, and radio personality, Peter Schiff, is one of that ilk. Schiff is bullish on gold but frequently bashes its digital equivalent, Bitcoin.

In a recent tweet, Schiff once again said that Bitcoin was a bubble and that this is a ‘sucker’s rally’.

“I’ve witnessed several asset bubbles over the years and those trapped inside also say foolish things to rationalize the price rise. But none more foolish than what’s being said to rationalize the Bitcoin bubble.  The bigger the bubble, the more foolish one must be not to see it!”

I’ve witnessed several asset bubbles over the years and those trapped inside also say foolish things to rationalize the price rise. But none more foolish than what’s being said to rationalize the Bitcoin bubble. The bigger the bubble, the more foolish one must be not to see it!

— Peter Schiff (@PeterSchiff) June 24, 2019

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The outspoken chairman of commodity investment firm, SchiffGold, echoes the sentiments of many aging American traditionalists that only believe in their own investments. If Bitcoin is a bubble then gold must be considered one also since it is still down around 25% from its peak in 2011.

The crypto community did not take this lying down and the responses came thick and fast. One commented “My dude, you have been saying this since BTC was $16. Not $1,600 or $16,000, but literally $16.” Another chimed in with “I’m sure you remember the gold bubble back in 2011 right? That one still hasn’t recovered 8 years later.”

The most pertinent, however, was an infographic depicting the ‘bubble’ in action, time and time again plotted on a logarithmic chart.

bitcoin

Another renowned Bitcoin basher and perma-bear, Nouriel Roubini, has also been uncharacteristically quiet regarding BTC recently as it surged back above five figures. There are many that simply do not understand Bitcoin and they tend to be in the latter years of their lives and bought up on traditional investment vehicles such as stock markets, real estate or commodities.

It can be said that BTC is pretty speculative at the moment as it has yet to be fully embraced as a global currency. Considering that is a spec compared to the multi-trillion dollar gold or stock markets, and is even smaller than some US tech companies in terms of market cap, Bitcoin still has a long way to go.

Is Bitcoin in a bubble due to its latest rally? Let us know in the comments below.


Images courtesy of Shutterstock, @PeterSchiff, @ChartsBtc

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Martin Young

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Related Posts

Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

Bitcoin Hashrate Hits 400 EH/s As Miners Profit From Bull Market

9 hours ago
bitcoin Tim draper

Billionaire VC Tim Draper Tells Businesses To Keep Payroll In Bitcoin

13 hours ago
Bitcoin

Bitcoin, Other Cryptos See $360 Million Sold Off In Single Day – Here’s Why

2 days ago
Shuttered Crypto Bitzlato Exchange Allow Users To Get 50% Of BTC Funds

Shuttered Crypto Exchange Bitzlato Opens Withdrawals For Users

2 days ago
Crypto and Bitcoin

Crypto Liquidations Hit $291 Million As Bitcoin Shows Volatility

2 days ago
Bitcoin

Bitcoin Under $27,000 As Short-Term Holders Lock In Highest Profits Since Nov. 2021

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • Tokens To Watch In Q2 2023: Aptos (APT), Optimism (OP) And...

    14 hours ago
  • Market Experts Predict Big: TMS Network (TMSN) Will Beat...

    15 hours ago
  • XRP Price Breaks Out Of Multi-Year Wedge: XRP Price...

    17 hours ago
  • Is it the right time to ditch Solana (SOL), Shiba Inu...

    18 hours ago
  • Top 6 DeFi Tokens to Buy for Big Profits in 2023

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.