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Is Bitcoin a bubble?

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  • Is Bitcoin a bubble?

    Is Bitcoin a bubble?

    Robert Shiller, a Nobel Prize winning economist, proposed a checklist which helps determine if something is a bubble. Said checklist includes sharp increases in the price of an asset, great public excitement, media frenzy, stories of people getting rich and growing interest in the asset among the general public. Bitcoin checks all of those boxes.

    So, in a way, Bitcoin is a bubble and it has burst before. After the infamous closure of Mt.Gox, a Chinese exchange that was handling more than 70% of all the Bitcoin transactions worldwide, BTC’s prices were falling for about a year and a half. It took the prices exactly 3 years to recover.

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