The recent rapid increase in the price of cryptocurrencies has resulted in many experts calling it a bubble and advising caution while investing. Aberdeen Asset Management is the latest to do so, arguing that like all bubbles, the virtual currency bubble will eventually burst too.
Bubble-like Characteristics
The growth in the valuation of cryptocurrencies in 2017 has been unprecedented. Bitcoin price has more than tripled in value, going from $900 in Jan 2017, to over $2,700 as of now.
This pales in comparison to Ethereum’s gains. Ether price has risen from ~$8 in January 2017, to $350 currently, a gain of over 4000 percent.
Read more: https://cointelegraph.com/news/cryptocurrency-bubble-will-burst-aberdeen-asset-management
