In that vein it s worth taking a look at what actually happened to the tulip market back then to see if it has any merit in being compared to the various bitcoin bubbles. Bitcoin has been unfavorably compared to tulip mania by a large number of people over the years which either means that more people have an understanding of 1600s dutch history than you d think or they don t know what they re talking about. Tulip mania is when in the 1637 the contracts of tulip bulbs in netherlands went to unprecedented prices and later collapsed dramatically.
Imagine close to 400 years later people still talk about one of the oldest if not the first speculative bubble. Many times we hear people say that bitcoin will crash like the tulip mania in the 17th century. Why bitcoin is much bigger than tulip mania june 9 2020 paxful team 0 in the earlier stages of bitcoin s lifespan especially during its all time high in late 2017 many financial analysts accused btc of being a bubble.
The digital currency s massive surge this year it s up more than 1 400 has all. Is the bitcoin boom about to turn into one of history s biggest busts. Is bitcoin just tulip mania take two.
One by one goldman laid out rebuttals against many. The report compared bitcoin s run to the tulip mania of the 1600s in the netherlands one of the most infamous instances of speculative bubbles. Bitcoin s critics say the.
The tulip bulb and the internet. San francisco when you talk to tech industry insiders about where bitcoin is heading two vastly different comparisons are inevitable.
