Just wanted to inform everyone that we are in a confirmed bubble. Read this:
It ticks all the boxes. People are actually buying coins that nobody uses, are centralised and not meant for individuals (such as XRP) not realising there is no underlying value for the price.
Bitcoin has risen to ATH despite the fact that it is unusable. I paid a medium fee and my transaction has been unconfirmed for days now. If Bitcoin performs worse than ever in history and it has the highest price in history, then it is a bubble and nothing more. If people tried using Bitcoin right now, they would realise it is slow as hell.
Ethereum has underlying value due to dapp programmers, sure. XMR maybe has underlying value, because 1 or 2 dark net drug markets use it.
NEM / XEM maybe has some underlying value, because a Japanese bank will be adopting it soon... maybe.
But everything else and even these coins are pretty much in a bubble. People are yelling "paradigm shift", taking out loans to buy cryptos... it will be bloody guys. I honestly believe anyone who buys crypto right now is clueless. Look at this chart:
Literal ATH. You don't buy at ATH, you simply don't.
Ofcourse if you can make easy money with it, with 'play money', why not. And offcourse people with much money will try it out to... But lending to buy... Omg... no! Just don't do it! I am just hoping that these massive amounts of fiat flowding into the crypto world will go to good projects, that they use the money to prove it can be worth something... But so many coins only have a whitepaper and they are receiving so much funds... It's crazy!
There's lots of margin trading going on, and it has been like that for years. In fact people lend money to buy literally anything fro groceries using a credit card to a house through mortgage. Just don't take a loan that you will not be able to repay. Still, I agree some coins are pumped beyond reason. There is literally no reason for a coin like doge to moon..
Bitcoins are The Digital Tulip Bubble!
basically the whole checkpoint list applies to the past 8 years of crypto history. there may be a "crash" coming and people may jump out of windows, but thats how the world works. People kill themselves over a lost football match. In the long run there is scope for strong growth. You shouldn't compare cryptos to tulips based on a price chart. Tulips are fundamentally different in the fact that they don't do shit while ctypto brings technology to the game that has potential use. My advice, just don't go all in at ATH, invest periodically. That applies to any type of market if your strategy is long.