Where Is Bitcoin In The History Of The World’s Greatest Bubbles?
Disclaimer: This is not financial advice. I am not a financial advisor. What follows is my personal, subjective, biased opinion.Every day, both self-proclaimed and distinguished experts sit on TV, telling people Bitcoin is a bubble. New tweets pop up by the hour. But is it true?
They say where there’s smoke, there’s fire, but sometimes, pointing it out and yelling is like calling the fire department at Burning Man: premature. No one denies the growth of Bitcoin and cryptocurrencies has been astronomical, but the question is how many legit, logic reasons can we find for it to stop?
To help you answer this for yourself, I want to provide yet more context for Bitcoin in the grand scheme of history’s biggest bubbles. Let’s go!
1637: The Tulip Bubble
About 400 years ago, tulips were all the rage in the Netherlands. A token of fleeting beauty, the newly imported good from Turkey quickly became a powerful status symbol. So powerful, in fact, that from November 1636 until February 1637, prices skyrocketed by a factor of 200.
