Bitcoin Is Unlike Any Other Bubble We’ve Seen So Far

Bitcoin Is Unlike Any Other Bubble We’ve Seen So Far

From bnnbloomberg.ca

While the jury is still out on whether Bitcoin is a bubble, one thing is certain: it’s unlike any other bubble we’ve seen. Previous speculative asset-inflation episodes were either a one-off, like tulip mania in the 17th century, or the boom-doom cycle took many years, like gold. Bitcoin, by comparison, has survived three peak-to-trough drawdowns of over 80% in less than 10 years. The cryptocurrency surged past $40,000 last week to set an all time high. It has fallen more than 15% since then. Man Group, the world’s biggest publicly traded hedge fund firm, compares Bitcoin to Prometheus in Greek mythology, whose ... (full story)

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