it has all the classic ingredients of a bubble
–Ray Dalio, Bridgewater
When you overlay the Bitcoin price chart against the classic bubble charts of modern history, it’s quite easy to say that it looks like a Bubble. A speculative bubble driven by greed, and demand for above-average market returns. Is it a Bitcoin Bubble?
But if you overlay this parabolic trajectory over a typical Technological Adoption curve, with the right timeline on the X axis, it looks quite normal. Is the growth driven by the great efficiencies, transparency, as part of the larger Is it part of a larger credit contraction and deflationary period we might be going through? Does it give hope to a post-Federal Reserve or Central Bank model?
I don’t think we’ll ever live in a world where we use the Internet less than we do today. I also don’t think we’ll ever live in a world where we use money less than we do today. Velocity will increase and will magnify the impact of printing trillions of dollars in fiat currency. I’m left wondering; is the Dollar is in a Bubble?
#Bitcoin is not in a bubble but it is bubbleish. Not to be confused with bubblicious #cryptocurrencypic.twitter.com/Kt4GrRsWy2
— Timothy Felsky (@timfelsky) September 24, 2017