I am convinced that bystanders still look at the bitcoin price like a stock price, not a monetary paradigm shift. It’s not a bubble yet.

Blue chip stocks rarely move more than +/- 5% in one day or are seldom ever valued over $10,000. There are no stock splits in bitcoin. Headlines with "bubble" seem to be littering the cryptosphere lately. It feels like a discussion between analysts of Google stock heading toward the $1,000 threshold. In my opinion, Trace Mayer's brilliant analogy of bitcoin as an intensifying black hole on the world's balance sheet is the best lens through which to view crypto. It is nowhere near bubble territory yet.

Submitted June 09, 2017 at 11:28AM by BitcoinDreamland
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