Frances Coppola writes about financial bubbles. She says the cryptocurrency market shares characteristics with earlier bubbles like Dutch tulips and dotcom stocks. Which means a crash is underway. That’s not just Bitcoin, but all of the cryptocurrencies.
The remarkable aspect of this is that everyone couldn’t see it coming. As Coppola points out some investors still don’t accept the likelihood of a crash.
It will be interesting to see what remains after things settle down. The idea of a blockchain isn’t going away, but the, at times irrational, enthusiasm for cryptocurrency could be coming to an end.