Bank of America Merrill Lynch came out with a statement that Bitcoin is the greatest bubble in history.

A team of analysts at Bank of America Merrill Lynch, led by investment strategist Michael Hartnett, claims that Bitcoin is “the greatest bubble in history.”

“The Greatest Bubble” in the world is not so great already

For comparison, the bank published a chart comparing bitcoin with known financial mania – the Mississippi and the South Seas Company in the 18th century, gold, the US stock market in 1929 and the Dutch tulip blister in 1637. Based on the chart, the analyst state that bitcoin is the largest among bubbles. At its peak, the bitcoin price was almost 60 times higher than three years ago. Prices for Dutch tulips at one time rose about 40 times.

But Coindesk notes that the price of bitcoin has increased 120 times in 2010 and 2011 to about 11 dollars before crashing. Its growth in 2013 and 2014 was also much higher, comparatively than the recent price rise. Not correct are the comparisons of bitcoin with other “bubbles”.

How many times bitcoin was called bubble is difficult to calculate. But counted how many times bitcoin “died.” As a result, only in 2017 bitcoin “died” 93 times.

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