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Bitcoin is off the map. A wild chart.


delos's avatar
@diggityMay 15
dutch tulips might have been worse but that’s going way back 😂
Ben's avatar
@rpinvestmentsMay 15
I think the difference in bitcoins bubble vs previous bubbles is starting price. Gold, housing and tech all had a starting floor price. So when a a bubble formed in tech for instance. You had a company making a product or service selling for 10 times earnings. Then things got out of hand and sold for 100 times earnings.

With Bitcoin, it had no initial or base value. It snapped into existence worth a millionth of a penny. So it’s easier to climb up thousands of percent when starting from such a small starting value.
Nathan Worden's avatar
Nathan Worden
@nathanwordenMay 15
Would Ethereum also qualify for this list?
Fat Baby Funds's avatar
Fat Baby Funds
@fatbabyMay 16Author
delos's avatar
@diggityMay 16
$BTC.X would also standout as the most rapidly inflated bubble in addition to being one of the largest
Dissecting the Markets's avatar
Dissecting the Markets
@dissectmarketsMay 16
Good thing I'm not chasing Bitcoin
Tyler P's avatar
Tyler P
@jtpMay 17
Is bitcoin an “asset”?
Fat Baby Funds's avatar
Fat Baby Funds
@fatbabyMay 17Author
@jtp what do you think it is?
Joey Hirendernath's avatar
Joey Hirendernath
@joeyhirendernathMay 18
This made me look up the Nikkei bubble,

Just adding the snippet in case anyone else is interested -

The Nikkei bubble, also known as the Japanese asset price bubble, refers to a period of rapid and excessive speculation in the Japanese stock and real estate markets that occurred primarily in the late 1980s. The bubble was fueled by a combination of factors, including loose monetary policies, financial deregulation, and investor optimism.
During the 1980s, Japan experienced a period of robust economic growth, often referred to as the "Japanese economic miracle." The country's economy was characterized by high savings rates, a strong export-oriented manufacturing sector, and a dominant position in industries such as automobiles and electronics. As a result, investor confidence soared, and both domestic and international investors flocked to Japanese financial markets.
The stock market at the center of the bubble was the Nikkei 225, a major stock market index in Japan. Between 1985 and 1989, the Nikkei index surged from around 12,000 points to a peak of 38,957 points in December 1989. This meteoric rise in stock prices was largely driven by speculative trading, as investors anticipated further gains.
Simultaneously, Japan's real estate market experienced a similar bubble. Land prices skyrocketed, particularly in Tokyo and other major cities, reaching absurd levels. Some notable examples include the famous case of the Imperial Palace grounds in Tokyo being valued higher than all real estate in California or Canada.
The speculative fervor was fueled by easy credit availability, as banks lent money at low-interest rates, leading to excessive borrowing and leveraging. The Japanese government also played a role by implementing policies that encouraged asset price inflation, such as tax incentives for real estate investment.
However, by the end of the 1980s, cracks in the bubble began to appear. Concerns about overvaluation and the sustainability of asset price growth emerged. In response, the Bank of Japan tightened its monetary policy and raised interest rates in 1989. The bursting of the bubble was abrupt, and the Nikkei index experienced a significant decline, losing more than half of its value by the end of 1990. Real estate prices followed a similar downward trajectory, leading to financial distress for many individuals and businesses.
The bursting of the Nikkei bubble had long-lasting effects on the Japanese economy. The subsequent period, often referred to as the "Lost Decade," was marked by a prolonged period of economic stagnation, characterized by sluggish growth, deflation, and high levels of non-performing loans. The Japanese government implemented various measures to address the crisis, such as monetary easing and fiscal stimulus, but the recovery was slow and challenging.
The Nikkei bubble serves as a cautionary tale about the dangers of speculative bubbles and the potential consequences when asset prices become detached from their fundamental values. It also highlights the challenges of navigating the aftermath of a bursting bubble and the difficulties of reviving an economy after such a significant shock.
Fat Baby Funds's avatar
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