Tramping Through the Tulips with Blodget
Let's state the obvious; writers have to write. They have to write something, anything, in order to be called writers and to be paid as writers. That's what they do. And with today's technology, what we end up with is a lot of noise. We're used to it. Nevertheless, Henry Blodget's recent column in Business Insider, while easily falling into the useless....
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Are we in the midst of a bitcoin bubble? Perhaps, but that doesn't necessarily mean prices are on the verge of collapse. And, bubble or no bubble, some analysts believe bitcoin still has room to grow. Former Wall Street analyst Henry Blodget says past price bubbles show that, in general, prices can rise much higher and bubbles can last much longer than most observers think. "Internet stocks, for example, were first described as a bubble in 1995, a full five years before the peak," Blodget writes on Business Insider. "And the amount of money made in those next five years made everyone who....
There's no comparing the current bull run to the 17th century tulip bubble, Dan Tapeiro argues. Bitcoin (BTC) and cryptocurrencies look nothing like the tulip mania of the 17th century, even after their rapid gains, one macro investor says.In a tweet on Monday, Dan Tapeiro, co-founder of 10T Holdings, argued that in terms of price relative to average income, Bitcoin and Ether (ETH) still have a long way to go before challenging tulips.Bitcoin vs. tulips: There's no comparisonTulip mania was a brief but intense speculative bubble in what is now the Netherlands that lasted only a matter of....
NFT related tokens are surging as digital tulips make an appearance. The NFT craze is showing no signs of slowing down with a newly launched NFT tulip collection epitomizing how some view the current state of the crypto art ecosystem.The NFT collection appears to be an ironic reflection of the tulip mania-like status of the current NFT scene.The collection is on sale on the OpenSea NFT market place as “113 unique algorithmically generated collectible Tulips.” The NFTs were created by a digital artist going by the Twitter handle @jtbxl who has a number of pieces for auction on the Rarible....
Hang around Imgur and reddit long enough and you will find photos of Dutch tulip fields popping up with clock-like regularity. The country has long been famed for its flower industry, and the expansive fields of colourful flowers do create a mesmerizing spectacle. When discussed in the same breath as bitcoin, however, Dutch tulips are an insult. 'Tulip mania', a phenomenon in the early 17th Century where tulips traded at extraordinarily high prices and then spectacularly crashed in value, is pointed to as a historical analogue of the current controversy surrounding bitcoin. In December,....
Some of the most bullish news for crypto in the past year was when it was revealed Guggenheim had projected a fair market value of Bitcoin at $600,000 per coin, and bought some BTC. A month ago, he warned of a massive market correction and was right, now he’s saying that cryptocurrencies are like “Tulipmania” […]