bitcoin: Bitcoin is unlike any other bubble we’ve seen so far – Gold Mine Saloon- Complete Guide to Gold, Stocks, Mining, Investing and More

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Whereas the jury continues to be out on whether or not Bitcoin is a bubble, one factor is definite: it’s in contrast to some other bubble we’ve seen.

Earlier speculative asset-inflation episodes have been both a one-off, like tulip mania within the seventeenth century, or the boom-doom cycle took a few years, like gold. Bitcoin, by comparability, has survived three peak-to-trough drawdowns of over 80% in lower than 10 years. The cryptocurrency surged previous $40,000 final week to set an all time excessive. It has fallen greater than 15% since then.

Bloomberg

Man Group, the world’s largest publicly traded hedge fund agency, compares Bitcoin to Prometheus in Greek mythology, whose liver retains rising again, each time a large eagle pecked it out.

“Each time a Bitcoin bubble bursts, one other grows again to exchange it,” Man Group’s analysts wrote in a be aware dated Jan. 12. “This very frequency makes the Bitcoin narrative considerably atypical relative to the nice bubbles of the previous.”

Right here’s a desk of some monetary bubbles compiled by Man Group.

Bloomberg

“As a substitute of contemplating every particular person spike and fall as a discrete bubble, there could also be extra benefit within the argument that this volatility is just a part of the value discovery in a brand new asset class, and that these are usually not bubbles, however a part of a not-so-random stroll that may finally dwindle to present Bitcoin extra stability, and in the end, legitimacy,” the analysts wrote.

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