Bitcoin’s ‘bubble’ is unlike anything we’ve ever seen before
|06/29/2017||Posted by BusinessMediaguide.Com under General World News||
There are still some question marks about whether bitcoin is in a bubble. But the speed of its price growth is already nearly unmatched.
The cryptocurrency has surged 162% in very volatile trading this year amid continued demand. But as the chart below illustrates, bitcoin’s longer-term rally by as much as 1,000% was swifter than homebuilder stocks in the lead up to the housing crash.
Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, said that “the 10-year buildup is important to how embedded the bubble becomes and how much impact the bursting has on the economy and markets.”