According to Hong-Kong-based private investor Tiho Brkan, Bitcoin has risen faster than any asset class we have seen in the last 400 years.
A History of Bubbles
“The sharp bull markets including Tech Bubble of the last 90s, US stocks of 1920s, Oil in early 2000s and even the famous South Sea Bubble… do not even come close to the rise in bitcoin,” he said in a Twitter post on November 18, 2017. Having founded Altas Investor, his opinions are well-respected in the investing community.
These speculations lead many to fear a potential impending doom for the virtual currency, with some likening it thus to the dotcom bubble and the 17th-century tulip mania that took place in Holland.
In a blog post written back in May 2017, Clem Chambers iterates his certainty regarding the inflated aspects of the cryptocurrency.
“Anyone who rode the dotcom boom will recognize the symptoms: up like a rocket and down like a rock,” he writes. At the time, bitcoin was only worth $2,700, a far cry from the $10,000 mark reached this week, a mere seven months later.
An accurate measure of the impact of bitcoin would be to look at its market capitalization. Sitting at $190 billion at the time of this article (according to Coinmarketcap), this figure represents the number of bitcoins in circulation multiplied by its then-current price…
Read Full: Bitcoin Destined to Crash Worse Than Dotcom Boom?
