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Wednesday, March 22, 2017

Bitcoin Price Rise A Boom, Not A Bubble: Boombustology Author

Bitcoin Price Rise A Boom, Not A Bubble: Boombustology Author

The author of a book about identifying bubbles has argued that the rise in Bitcoin price which has recently seen it overtake its previous all-time high, is progressing with little signs of being a bubble in danger of popping soon.

There have been several issues raised about Bitcoin price rising. The buzzword in most instances has been “bubble” - a situation that is isolated from reality and not likely to last.

In the case of Bitcoin, reference has always been made to the 2013 spike in its price when it shot to as high as $1149 before it slumped back to about $197 slightly over a year later, according to figures from CoinMarketCap.

Vikram Mansharamani used the framework for identifying bubbles as stated in his 2011 book Boombustology: Spotting Financial Bubbles Before They Burst, to note that today’s Bitcoin market exhibits fewer than two of the five major features of a fully inflated bubble.

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