Bitcoin has so far been through two crashes. One when the price suddenly rose from $1 to $32, only to collapse back to $5 a short while later. The second when it suddenly rose from $5 to $270 only to crash back down to ... let's see: about $110 a short while later.
Tulip mania, on the other hand, resulted in tulip bulbs rising from fl 1 to fl 200 over six months, only to collapse back to fl 1.
Bitcoins are still selling for over 20 times the original price. Either the bubble is still well in progress, or the spikes in price are just that - spikes, with the underlying price rising steadily.
As someone who thinks that Bitcoins are one day going to be incredibly useful (and as someone who never thought tulips were especially useful), I fail to see the comparison between Bitcoin and tulips as relevant.
Although of course only time will prove me right, or wrong.
I appreciate everything you have added to my knowledge base.Admiring the time and effort you put into your blog and detailed information you offer.Thanks.
ReplyDeleteorder Goldshell KD5