Wall street grows ever more certain Bitcoin is a bubble. I can't even say they're wrong. Flirting with $6000 per coin and low economic utility? For as dumb as Jamie Dimon sounds every time he says anything about Bitcoin, the tulip bubble analogy looks less and less inappropriate all the time.
In a note to clients published on Thursday, analysts at UBS took a long look at Bitcoin, cryptocurrencies, and the blockchain technology that underwrites this whole enterprise.
Looking only at pricing, UBS said that, a twenty-fold increase in bitcoin prices in just two years, and an absence of any fundamental economic backing, cryptocurrency prices are almost certainly a bubble.
Blockchain utility doesn't make crypto not a bubble. That'll be important to remember for people buying now expecting to make big gains at this cost basis, and there's real risk there.
It is not a bubble because butcoin is existing until now, it was created few years ago, as far as I know when a bubble reach the top it will pop and will be gone and bitcoin is not because not so long bitcoin will reach it goal too but it will not pop and gone because as long as bitcoin is reaching its goal the more years and users will come.