Post
Topic
Board Economics
Re: Is Bitcoin a Bubble?
by
thefatman82
on 23/07/2018, 13:46:34 UTC
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.

Quote
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.
As many guys are already saying here I can say also that bitcoin is existing more than 10 years already and if it would be a bubble I think this bubble would be broken few times already during the regulations and corrections.