There have been many articles lately exploring the possibility that Bitcoin is just like another bubble and it can burst soon...akin to the dotcom mania that later on burst leaving many investors with empty bags. In investing, anything can be possible and since Bitcoin is not as old as gold, it is imperative that we have to make sure that we are not riding something that can explode or implode leaving us hanging in the air.
One reason why a thing can be a possible bubble is if it does not really have any intrinsic value at all and all buyers or investors are there because of the frenzy induced by the possible profits. In other words, you are just dealing with a worthless instrument and whose value is just based on speculations.
Do you think Bitcoin can be described that way or you think that even if there is a presence of speculations on Bitcoin still the value is intact and this value is in itself a great protection for possible burst?
Times without number discussions like this have sprung even in the past but every day by day this is being debunked by the simple fact that the popularity of bitcoin keeps increasing couple with the various adoption of the technology and the currency by countries even though not fully. However, the threat I see here is that instead of others coming to focus on bitcoin, they are just looking for ways to create their own and promote it in their own way which if not checked might turn bitcoin to the background which show the way but not part of the future.
