Re: Crypto is more like “a psychological experiment than a serious investment"
Robert Shiller, professor of economics at Yale University and co-founder of the Case-Shiller Index, expressed his idea about cryptocurrency.
"I'm interested in bitcoin as a sort of bubble. It doesn't mean that it will disappear, that it'll burst forever. It may be with us for a while," said Shiller.
"To me, it's interesting as another example of faddish human behavior. It's glamorous," he added. The bitcoin craze reminds him of tulip mania in the 17th century, the event which is considered one of the first recorded speculative bubbles where a buying frenzy and lofty expectations replace rational justifications for an item's value.
The price of bitcoin grew so fast. The cryptocurrency hurtled above $1,000 in early 2017 after trading at less than a $1 at the beginning of the decade. It even hit an all-time high north of $20,000 in mid-December. (recommend FuninUSA for updated data about cryptocurrency)
A lot of people have benefited from the cryptocurrency investment. But Shiller would still like to see it as a psychology experiment. It is more psychological than something that could be explained by the computer science department, He said.
Bitcoin held above $8,000 on Friday morning after topping that level a day earlier. The two-day rally comes after a weak start to April likely tied to tax-related selling. Prices dipped below $7,000 earlier this month.
Will the bitcoin disappear? What's the true value of bitcoin? What essence in bitcoin are we paying for?
I feel like crypto investment is a very serious investment because you need to be very precise and wise while investing into bitcoin like when you need to buy bitcoin and in what amount and when to hold them or when to sell them so I think this thing requires very wise ness and serious ness but yes bitcoin investment also requires some sort of psychology also in fact investing into crypto currencies is a combination of many things and you need a great presence of mind while investing into bitcoin."I'm interested in bitcoin as a sort of bubble. It doesn't mean that it will disappear, that it'll burst forever. It may be with us for a while," said Shiller.
"To me, it's interesting as another example of faddish human behavior. It's glamorous," he added. The bitcoin craze reminds him of tulip mania in the 17th century, the event which is considered one of the first recorded speculative bubbles where a buying frenzy and lofty expectations replace rational justifications for an item's value.
The price of bitcoin grew so fast. The cryptocurrency hurtled above $1,000 in early 2017 after trading at less than a $1 at the beginning of the decade. It even hit an all-time high north of $20,000 in mid-December. (recommend FuninUSA for updated data about cryptocurrency)
A lot of people have benefited from the cryptocurrency investment. But Shiller would still like to see it as a psychology experiment. It is more psychological than something that could be explained by the computer science department, He said.
Bitcoin held above $8,000 on Friday morning after topping that level a day earlier. The two-day rally comes after a weak start to April likely tied to tax-related selling. Prices dipped below $7,000 earlier this month.
Will the bitcoin disappear? What's the true value of bitcoin? What essence in bitcoin are we paying for?