Is cryptocurrency the new face of tulip mania?

Read the article below and you can be the judge. Most bubbles follow a similar pattern and Bitcoin seems to be following that same Tulip Mania pattern. Is it only a matter of time before it happens to Bitcoin like it did in Tulip Mania? We'll see. Tulip Mania: The 17th Century Dutch Tulip & Bulb Market Bubble. read more

Tulip mania was an event that is now used a term that describes the undeserved praise and increase of the price of a useless asset to a large proportion. Since the asset cryptocurrencies is not useless, and is not exactly asset (it has almost all of the characteristics of a currency and/or money), this comparison doesn’t apply. read more

Charles Mackay’s 1841 masterpiece on mass mad human folly, Extraordinary Popular Delusions and the Madness of Crowds, reminds us of sensationally bad moments such as the South Sea Bubble (1711), the Mississippi Company bubble (1719-20), and the Dutch Tulip mania of the early 17 th Century (during which a single tulip bulb traded for more than 10 times the annual income of a skilled craftsworker). read more