Bitcoin Mania!

Bitcoin Mania!

Bitcoin mania is running wild! Is it a bubble? Intuition and experience tells me yes, but lets look at some StockTwits posts that I saw on $BTCUSD: 

$BTCUSD cashed in some BTC at ATH today to buy some more obscure coins FCT - FactomMAID - MadesafeLooking for 1000% on each ✌️

— Exquisitopia (@exquisimagic) May. 24 at 12:58 PM

It seems like some are starting to believe that 1000% gains are a common thing in the stock/currency market... Let's take a look at another post I saw:

$BTCUSD In case you didn't know BTC is divisible to 8 places. Called a Satoshi, so if BTC does one day reach the $1mil price range, then

— Joseph Cassidy-Manahan (@Josephcm) May. 24 at 01:01 PM

Bitcoin going to 1,000,000?!?! You would make 370x your money, even from current levels (2700)...

If you think Bitcoin is a bubble, you have to compare it to other recent bubbles. Let's take a look at the Nasdaq bubble of the 90's:

The Nasdaq Composite took 13 years to appreciate by more than +1600%! That's chump change compared to Bitcoin's current trajectory:

Bitcoin is up more than +2400% in just 2 1/2 years!

As of the time of this post. 1 bitcoin is trading for around $2700. 1 bitcoin can buy you 4 iPhone 7s... 1 bitcoin can also buy you 3 10x10 wooden sheds from Home Depot...

Is Bitcoin a bubble? Probably. Can this bubble go on for longer than anyone believes? Yes. 

Thank you for reading! 

 

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