The prices of Bitcoin and altcoins have been climbing in recent weeks. We’ve written a fair amount about the 4 year Bitcoin cycle and have pointed out that 2021 is the next iteration of a significant crypto bull run.
We want to give you a heads up regarding news stories that you are almost certainly going to be subjected to this year: In 2017, the higher the price of Bitcoin climbed, the more stories were published about the “Bitcoin bubble”.
A simple google news search for “Bitcoin bubble” with a date range of the entire year brings up hundreds and hundreds of articles. Here’s just a small sampling:
WBUR.org published, “The Bitcoin Bubble: Deciphering Digital Currency” on June 1, 2017. A quote from the article:
There are a couple of reasons why the bubble is sure to burst. The first is just that it’s a bubble, and any chart which looks like the one at the top of this post is bound to end in tears at some point.
CNBC published “Mark Cuban calls bitcoin a bubble, price falls” on June 6, 2017. The article included this statement:
Bitcoin gave back most of its gains on Tuesday after billionaire entrepreneur Mark Cuban said in a series of tweets the digital currency is in a bubble. Cuban Tweet: I think it’s in a bubble. I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble
The Economist published “What if the bitcoin bubble bursts?” on June 3, 2017. The news story proclaimed:
Is the latest frenzy like tulipmania, a gold rush or the dotcom boom? MARKETS frequently froth and bubble, but the boom in bitcoin, a digital currency, is extraordinary. Although its price is down from an all-time high of $2,420 on May 24th, it has more than doubled in just two months.
There are hundreds upon hundreds of news stories from 2017, all claiming that Bitcoin was in a bubble and implying that anyone holding Bitcoin was going to lose everything once the bubble popped.
These stories were published in every month of the year, however, the higher the Bitcoin price climbed, the more frequent the stories became.
We expect the same stories to be rolled out again en masse this year, as the price of cryptocurrencies soar in a major, breathtaking bull market.
There are bear markets, and there are bull markets. If our forecast is correct, the top of this bull market in cryptocurrencies will not be reached until mid to late December this year.
We are not going to let the coming onslaught of Bitcoin bubble stories frighten us into selling prematurely.
A word to the wise.