Is bitcoin a bubble? Its price went from around US $ 11,000 last week to over US $ 17,000, after starting the year below US $ 1,000, according to Coindesk.
This irrational explosion has led many experts to conclude that investors are crazy, a folly similar to the one that had exploded the value of small internet companies during the dotcom era. These prices eventually collapsed.
"We saw that in the 90s, warns Barry Ritzholtz, the president of the firm Ritzholtz Wealth Management. Does it ring a bell? '' It's unique and it's going to change everything ''? "
Like many other financial experts, Mr Ritzholtz anticipates a burst of this bubble. It remains to know when. "Some think it's coming soon, others for later," he says. We will know in a near future who is right. "
Two Nobel Prize-winning economists, Robert Shiller and Joseph Stiglitz, have recently called Bitcoin a "bubble". Mr Stiglitz has even publicly suggested that this cryptocurrency be banned.
Bitcoin was created in the hope of offering a new kind of money, independent of banks and states, that the population could use outside the traditional banking system. He also had to escape the supervision of the government, which made him fear that he would attract criminals.
Unlike traditional currencies, bitcoin is not supported by a state, it does not have a central bank or interest rate, or has a long history of dealing with other currencies, which makes it very difficult. evaluation of its
