Published On: Thu, Nov 23rd, 2017

It’s Official: As Bitcoin Goes Higher, Bubble Fears Drop

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A succession of polls has revealed contradictions in investors’ understanding of Bitcoin’s price being a bubble.
$2k Bitcoin More Bubblishous Than $8k Bitcoin
Results of three installments of a Twitter survey by funds manager Charlie Bilello show that the higher Bitcoin’s price goes, the fewer respondents think a bubble is occurring.
“[The] higher the price of Bitcoin, less people believe it’s a bubble, more people believe it’s undervalued,” Bilello commented.
The three polls launched May 22, November 3 and November 20, when Bitcoin was trading around $2200, $7300 and $8200 respectively.
The proportion of respondents who thought Bitcoin was in a bubble dropped from 51% in May to 39% last week. At the same time, those who thought it in undervalued over doubled from 15% to 34% in the same period.

My theory: higher the price of Bitcoin, more attention it gets, higher the adoption. If you own something or know someone who owns something, you’re less inclined to call it a bubble. Conceivably, if Bitcoin continues to rise, less and less people may consider it a bubble… pic.twitter.com/ljs3DFK8EX
— Charlie Bilello (@charliebilello) November 22, 2017

“My theory: higher the price of …

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