Economic bubble or bubble gum?
Jamari Mohtar | 02 Mar 2018 00:30

IN late January, the price of Bitcoin and other cryptocurrencies went into a tailspin. The value of Bitcoin fell more than 60% in early February – from its lofty high of about US$20,000 (RM78,341) in December to below US$8,000. The global mainstream media had a field day. “Bitcoin biggest bubble in history, says economist who predicted 2008 crash” screamed The Guardian on Feb 2.

“Bitcoin and other cryptocurrencies tank” flashed CNN on Feb 5, and “Here's How Hard Bitcoin and Other Cryptocurrencies Are Crashing Right Now” headlined on Feb 6.

And Business Insider had this: “ROUBINI: ‘The Mother Of All Bubbles And Biggest Bubble in Human History Comes Down Crashing.’”

Can you imagine those gloating at such headlines? And especially at the fate which befell cryptos and those deemed stupid and idiotic to ever engage in investing and trading in Bitcoin?

If you feel I’m too sensitive, then let’s see what happened in the past each time the prices of Bitcoin and others cryptos nosedived.