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.
I believe that at this point you can be sure that the bitcoin is exactly the bubble. bitcoin price since reaching $ 19800 at the end of 2017 has continued to fall sharply and at the moment it has fallen to $ 6800. It can be seen that investors have lost confidence in the market and are constantly withdrawing capital, the market also does not appear new investors this show that bitcoin prices will be able to continue to fall stronger again in 2018.