Bitcoin has recently been a hot topic among many people, economist especially. But as it moves towards the $12,000 index many are having doubts as to how stable the market for bitcoin really is. Just recently, an expert from Yale who was considered as Wall Street's most influential economist described it as a dangerous speculative bubble due to its lack of intrinsic underlying economic value to the concept.
Despite the lack of understanding of its mechanics by lots of investors, why and how does it continue to prosper?
Is it really just a bubble? And if it is, when is this bubble going to burst?
Bitcoins behave as such but I'm not really afraid of bitcoins popping like a giant balloon on us. But I'm guessing that bitcoins will eventually have to face these kinds of challenges in the future. Not all cryptocurrencies are fool-proof. Eventually, they all face the very same challenge.