Bitcoin’s Present Bubble Might Actually be the Beginning of Mainstream AdoptionBitcoin’s enthusiasts are torn between whether to celebrate Bitcoin’s arrival in the foothills of mass adoption, or to lament the upcoming burst that always happens with asset bubbles. There is evidence for both points-of-view, as some indicators point toward Bitcoin’s imminent mainstream arrival, while others suggest the price is in bubble territory.
Bitcoin’s price increase
Bitcoin entered a bull market in August 2016 at a price of about $550 per coin, according to data from Cryptowatch, leading the currency to surmount its previous all-time high back in March of this year. Since March, Bitcoin has been on quite a tear, rising from $880 to a high earlier this week of $3490.
Bubble territory
Such extremely rapid price appreciation is not usually considered normal in the investment world, and may presage an epic crash. Since one year ago, the Bitcoin price is up by 611%. Since March 2017, the price is up by 381%. This points to rapid, perhaps unsustainable, growth.
But what exactly is a bubble?
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