Bitcoin price managed to rise above the $5,000 mark in trading today, fulfilling the expectations and predictions of a number of Bitcoin faithful. However, it has also led to widespread concerns that a bubble is forming that will eventually crater the portfolios of many investors.
The massive rise is difficult to grasp, without considering what the value of what an investment would be had it been purchased last year.
Consider an average investor who purchased $100 of Bitcoin in September 2016 when Bitcoin was selling for $572. Had they managed to hold the currency through all the ups and downs of the last year, they would be sitting on $850 with today’s $5,000 price point.
This fantastic level of value growth in a short time has led to wide speculation that Bitcoin is in a bubble. Consider Bloomberg’s analysis via Twitter:
Bitcoin's epic rise leaves the late-90s tech bubble in the dust https://t.co/coMST3X6cD pic.twitter.com/KnluNTmhjG
Bloomberg (@business) August 29, 2017
Full story at http://bit.ly/2ww0cNr
Source: CoinTelegraph
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