Oh, it was. And it took almost two years to start recovering.
We should first agree on what we mean by 'tulip mania' first. I like to keep it distinct from 'speculative bubble'. 'Tulip mania' to me means rising
once, then never getting back again anywhere near its former glory.
Ok, I can agree on that. Bitcoin obviously wasn't, as it has been shown. But it certainly was a case of unsustainable mania, like it is happening right now with many alts. Time will tell.