The Dutch Tulip Mania is one of the most famous bubbles of all time, for the scale of the bubble, the scale of the collapse, and probably including the seemingly obvious nature of the bubble considering the extremely limited functional utility of tulips. Bitcoin has now surpassed the multiples of value appreciation at the height of the Tulip Bubble (and by a wide margin). While this itself is not proof that Bitcoin is a bubble or that a collapse is imminent, it's worth considering if there's a lot more risk buying at this price (currently bouncing around $17,000) than anyone on these boards seems willing or able to recognize.
Thoughts?
Thoughts?
I didn't think it is bubble at all last year, but I do fear I need to consider it a bubble in order to make the right financial decision.
I agree that we need to separate these two:
- Bitcoin itself - a kind of money/asset based on a robust (but not so scalable) distributed ledger (blockchain)
- Bitcoin's price - something decided by the open market (by the willings to pay for it), witch is also highly manipulated by whales
BTW, looking back the thread here, I find it interesting that opinions on this bubble things highly correlate with Bitcoin's price.
