The Bitcoin Bubble

Link: This Chart Of Bitcoins Looks A Lot Like An Average Bubble

This is a great read about how the Bitcoin market seems to be a large bubble.

The value of a Bitcoin has risen 152% this month alone and some analysts think it’s due to the Cyprus bailout and the announcement of Bitcoin ATM machines being opened in California and Cyprus. Others think it is also the sign of a parabolic rise, which is a stage in a bubble where the price rises substantially in a short time period.

Here is a picture showing the stages of a market bubble

bubble-phases

This is a Picture of the Bitcoin Market to Date

mtgoxUSD

My Opinion: I think the bubble is 100% real and I am awaiting the steep decline in prices. 

Source(s): http://dobododo.wordpress.comhttp://qz.com/68328/bitcoin-up-152-this-month-tops-1-billion-in-total-value/http://wallstcheatsheet.com/features/the-5-participants-in-a-market-bubble-with-steve-blank.html/http://bitcoincharts.com/charts/mtgoxUSD#rg180zig2-hourztgCzm1g10zm2g25zv

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