How low will Bitcoin now go? The history of price bubbles provides some clues
- Written by Lee Smales, Associate Professor, Finance, University of Western Australia
The Bitcoin bubble is perhaps the most extreme speculative bubble since the late 19th century.ShutterstockNearly 170 years before the invention of Bitcoin, the journalist Charles Mackay noted the way whole communities could “fix their minds upon one object and go mad in its pursuit”. Millions of people, he wrote, “become...
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