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Friday, November 10, 2017

Crypto News: How the rip for bitcoin — which cracked $7,800 — may be nearing tulip-mania levels

How the rip for bitcoin — which cracked $7,800 — may be nearing tulip-mania levels

Off in its corner of the financial universe, bitcoin has been providing fireworks yet again this week, drawing oohs and aahs from traders who have moaned about the S&P 500’s lack of volatility.

The largest cryptocurrency by market cap BTCUSD, +1.01% is twinkling around the $7,200 mark early Friday, after breaking above $7,800 for the first time ever on Wednesday.

Is there anything that tops the enthusiasm for this red-hot digital currency? Yes, the Dutch tulip mania in the 1600s, according to a chart from Convoy Investments, a New York firm founded by former Bridgewater employees. It’s shown in tweet below from another ex-Bridgewaterer.


Full story at http://on.mktw.net/2AyFez2


Source: MarketWatch


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