Despite all claims to the contrary the life cycle of the boom/bust phenomena has remained unchanged for hundreds of years.
Source – Bloomberg
PS:I made an interesting observation last night whilst looking at my LinkedIn profile. I consider LinkedIn to be little more than Facebook for people with a job. However, it was interesting to note the number of people of dubious reputation and qualification who now class themselves as expert Bitcoin traders…..
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I forwarded this blog post to my friend who is now an expert Bitcoin trader, despite only learning what it even was less than a month ago.
He claims this bubble is different to any bubble of the past because cryptocurrency is the future of banking. He said the price is going to the moon and he topped up on even more stock yesterday because he is getting it at a “low price” before it continues its inevitable trajectory to the moon.
Sadly, this would be the story of many.