Lots of Bitcoin is a bubble talk as we knock on the door of 2018
But Bitcoin bubble talk is nothing new.
In 2011 Bitcoin was in a "bubble". If you bought BTC at the all time high (ATH) of the 2011 bubble you would have paid $32 for one Bitcoin. By November of 2011 Bitcoin had crashed back down to $2.
In fact, Bitcoin has a "crash" on average of at least 30% once per quarter as this chart below from Mauldin Economics shows...
So does this tell you Bitcoin is a bubble?
It tells you Bitcoin is volatile.
In the "picture in the picture", it shows that there is a constant war going on between the forces of FUD and FOMO.
FUD = Fear, Uncertainty and Doubt.
FOMO = Fear Of Missing Out.
When Bitcoin is on a roll, you get the FOMO.
100,000 accounts being opened per day on Coinbase. Facebook posts praising Bitcoin from your neighbor who believes the Earth is flat. The price of BTC moves up quickly. (By the way, with 100k accounts per day on Coinbase opening up, what else do you...