Is BitCoin In a bubble?
So I've been reading a lot about Cryptocurrency (ex bitcoin) and I've been wondering if the price surge is due to it being in a bubble.
I've been looking at the price over time from 2009 (bitcoin to dollar) and it seems to go up and down rapidly.
https://99bitcoins.com/price-chart-history/
So, looking at the stats for example. Lets look at 2013-11-29, The price for it was at $1100 (rounded down) Look a month earlier and it was at $135. Looks pretty good ay, It gained lots of ground on value and the price shot up. Let's look at around a month later. It crashed to $500 (rounded down) and it continues going down for some time.
You're probably thinking, "So what this happens all the time."
Let's look at current day. 10/2/2017
1 Bitcoin is $4318
Wow what a surge! 4 years ago it was $1100. Looks good again aye? The rapid growth of the bitcoin in recent times is interesting. It happened in 2013 around the same time.
So is BitCoin in a bubble?
Well, we can't really say just yet, we'll just have to wait and see what happens to this surge, will it continue going up? Or will it crash like in 2013.
Thanks for reading and I hope this helps, if anything major happens to the value I'll be sure to make a reply article.
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