Bitcoin is not in a bubble Only 300,000 Bitcoin accounts have 5000$ or more worth of Bitcoin.
In the video linked below, Thomas Lee appears on CNBC's Fast Money and reaffirms his short-term target of $25,000.
Lee explains; " There are only about 300.000 holders of at least $5000 of Bitcoin. Thats like saying the Iphone was a bubble in 2007 four days into the sale because there were 500,000 Iphones sold. Bitcoin is a protocol, meaning, the actual network itself is generating value."
Again, I must stress that you don't let the fluctuations and volatility and noise we're seeing now confuse or affect your decision. I know it must be hard to have bought in at $3000 or even 4000$ and wonder if are ever going to make any money. But if you made the decision to buy because of fundamentals, you should shrug those irrational thoughts off. Also, I don't Bitcoin will take 5 years to hit $25,000. He is just being conservative because he needs to take care of his mainstream reputation. Personally I think it will go much faster, and that we will see Bitcoin at $25,000 in less than three years.
Right now Bitcoin is trading at $3910 on Kraken. To me the 5 hour and daily chart look pretty bullish. That shouldn't matter to you if your're a long term investor - but perhaps it helps to calm the nerves. I knew we all want to head for new ATH's above $5000, and I have no doubt in my mind we are going to do that very very soon.
"This is not investing advice. I am not a professional. Do your own due diligence"