Bitcoin's {enthusiasts|lovers|fanatics} are torn {between|in between} whether to {celebrate|commemorate} Bitcoin's arrival in the foothills of mass {adoption|fostering}, or to lament the upcoming {burst|ruptured} that {always|constantly} {happens with|occurs with} {asset|possession|property} bubbles.

1. Bitcoin’s Present Bubble Might Actually be the Beginning of
Mainstream Adoption
teamsteverhyner.com /bitcoins-present-bubble-might-actually-be-the-beginning-of-mainstream-adoption/
Bitcoin’s enthusiasts are torn between whether to celebrate Bitcoin’s arrival in the foothills of mass adoption, or to
lament the upcoming burst that always happens with asset bubbles. There is evidence for both points-of-view, as
some indicators point toward Bitcoin’s imminent mainstream arrival, while others suggest the price is in bubble
territory.
Bitcoin’s price increase
Bitcoin entered a bull market in August 2016 at a price of about $550 per coin, according to data from Cryptowatch,
leading the currency to surmount its previous all-time high back in March of this year. Since March, Bitcoin has been
on quite a tear, rising from $880 to a high earlier this week of $3490.
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2. Bubble territory
Such extremely rapid price appreciation is not usually considered normal in the investment world, and may presage
an epic crash. Since one year ago, the Bitcoin price is up by 611%. Since March 2017, the price is up by 381%. This
points to rapid, perhaps unsustainable, growth.
But what exactly is a bubble? Investopedia defines it as:
“A financial ‘bubble’ refers to a situation where there is a relatively high level of trading activity on a
particular asset class at price levels that are significantly higher than their intrinsic values.”
The catch is the term “intrinsic value.” Not all rapid price appreciation must necessarily be a bubble. To meet the
definition, the price of an asset must have greatly exceeded its intrinsic value.
Mass adoption
Unfortunately, nobody knows exactly what Bitcoin’s intrinsic value is at this time. There are a number of signs that
point to major shifts in the reaction of industry and government with respect to Bitcoin. Though the SEC rejected two
proposed Bitcoin ETFs, the Commodity Futures Trading Commission (CFTC) recently approved LedgerX’s
application to trade Bitcoin futures contracts.
Meanwhile, in other parts of the world, Japan and South Korea have officially legalized Bitcoin and allowed it to be
used for payments. Additionally, the Blockchain technology which underpins Bitcoin has begun trial use in areas as
diverse as social media, tracking meat through the supply chain, and to help families find lost refugees following
conflicts.
Likewise, the recent lock-in of the Segregated Witness (SegWit) improvement means that Bitcoin will soon be able
to process more transactions. More important, SegWit will allow numerous other services, such as lightning
network, to be built on top of the Bitcoin protocol. Such services can offer privacy, instant transactions, and much
greater scalability. In fact, lightning network boasts that it will be able to process over 100,000 transactions per
second.
This isn’t 2013 anymore
Bitcoin’s ecosystem is vastly larger and more diverse than it was during the currency’s last bubble, in 2013. Billions
of dollars have been invested in Bitcoin companies, public acceptance of the currency is on the rise, and
governments have begun (gently) regulating it. All of these point toward the direction of mass adoption.
The incredible potential enabled by SegWit’s adoption and the presumed end to Bitcoin’s three-year scalability
debate also would tend to point toward continued price increases in the future.
It’s certainly possible that we are in one of Bitcoin’s last bubble cycles before mass adoption is achieved. If we are,
and the price crashes, don’t expect it to last long. Bitcoin is rapidly coming into its own, and when mainstream
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3. acceptance finally occurs, it’s likely to make past bubbles look small.
Re-posted from www.cointelegraph.com by David Dinkin August 9, 2017
I usually don’t post curations on the weekend but this article caught my attention with what appears to be
solid reasoning and level-headed thinking concerning the price of Bitcoin. Or maybe it’s my wishful
thinking? Either way, it’s a quick read and makes perfect sense to me. See if you don’t agree. Earlier today
I read an article about Bitcoin’s ascent to the $1 million dollar range. That made sense to me too! So go
figure…I guess it’s all in mindset. As of this posting, Bitcoin is hovering around $4,000. I’m guessing
buyers are there but so are those that are taking profits keeping a lid on a major move. What is satisfying is
my decision a couple of years ago to join the world’s safest cryptocurrency American based mine. As the
price continues rising my holdings also rise. If the price goes down, I get more Bitcoin and when it goes up
I get less from my mining. Kind of like dollar cost averaging. I invite you to take a look at Galaxy Mines.
Click here to watch the relatively short videos. There’s also a network marketing opportunity along with
other products this company markets. Email: steve@prplus.us
Share this post and help spread the love!
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5. Steven L. Rhyner
Thank you for reading my posts! If you would like to connect, reach out to me on Facebook.
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