Frances Coppola writes about financial bubbles. She says the market for crypto-currencies 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 crypto-currencies.
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. Yet the, at times irrational, enthusiasm for crypto-currency could be coming to an end.