Erik Voorhees On Bitcoin bubbles

I hear lots of people asking “are we in a bubble in crypto assets”?

I think Erik Voorhees said it best this at #consensus2017:

Unfortunately, slow and steady in any financial market is actually impossible. If you see a market that has slow and steady growth long enough you’ll start to front-run it and that slow and steady growth will start turning into steeper growth and that will accelerate the process.

You cannot have an asset that goes up in price 1% every month or 1% every six months or every day without people starting to start thinking it’ll do the same tomorrow so that’s why these bubbles form.

They are inevitable and they will happen in every asset, but especially in these crypto assets that are so small still.