No, I didn’t, but some people did
Even if the price of Bitcoin collapses tomorrow the cryptocurrency’s already made history.
On Wednesday the Turkish deputy-prime minister Mehmet Simsek said on Twitter that “bitcoin is the biggest Bubble in the history of finance”. He could be right, but let’s look back the past few months.
People didn’t stop saying it’s a bubble at every thousand dollars its price went up by. Yet, it’s here, standing at more than $17,000.
A minor note – for the past week it’s been fluctuating at around 15,000. Which means it hasn’t broken that tight range yet – neither up nor down.
That could mean all of that price growth may have been put under control and that this could be its real price. Or it can deflate, but in the boring way we described before.
But even if we neglect all that – think about how far it has gone. It grew by a gazillion percent this year and it still hasn’t popped. The media mentioned that this is the biggest growth since the tulip bubble in the 1600’s.
There’s one thing that separates bitcoin from tulips though – that’s objective practicality. Tulips are just for decoration and their long term price depends only on how much money people have in their pockets. Bitcoin’s got a much better fundament, being a revolutionary payment method.
We’re gonna keep hearing from bitcoin for sure.