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Many economists believe that Bitcoin is a bubble that will soon explode.
Many have compared it to the financial bubbles that preceded it in history.
But even for those who defend this thesis, it must be admitted that there are many differences with the preceding cases.
This is what the Canadian economist Joshua Gans explains.
Bitcoin is not a bubble like any other
In all previous cases, it was not a completely virtual product.
At the moment, investors are not using much of their savings to buy bitcoin. And so, there is little chance that the bursting of the bubble has repercussions on the financial world. Especially since the volume of transactions, although amounting to billions of dollars, represents only a small percentage of all global monetary transactions.
No need to invest thousands of dollars in cryptocurrency.
6. Finally, last point, the slow execution of transactions. Which means that this market is not responsive to the speed with which we have become accustomed to other stock markets.
So there are many differences between the supposed Bitcoin bubble and the previous financial bubbles.
The only common point that can be recognized is the familiar vanity of other bubbles. Because the reason why investors are turning to Bitcoin today, is only to make more money tomorrow. This is what makes investment in cryptocurrency very much like playing at the casino.
So what will blow up the Bitcoin bubble?
First possibility, that the whole Bitcoin system collapses.
Second possibility, most likely: a big wallet decides one day to sell its Bitcoins to convert them into hard currency.
And it is this sale that can trigger the collapse of the virtual currency.
But one thing is certain. When this collapse occurs, it will be a very interesting phenomenon to study for financial bubble specialists.
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Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
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Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
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Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
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