Bitcoin is surging once again this morning, up over 8.5% to retest $6000 once again (after dropping to $5366 just 2 days ago), but according to Nasdaq, “Bitcoin is not a bubble,” citing five reasons demonstrating why it’s nothing like Tulip Mania…
Via Nasdaq’s Alex Lielacher,
The digital currency bitcoin rallied by over 300 percent since the start of the year and has recently surpassed the $4,000 mark. Unsurprisingly, many financial markets pundits consider such a sharp rally the creation of an asset bubble.
In all fairness, the returns that bitcoin and its digital peers in the crypto assets space are experiencing have not been seen since the day and age of the internet bubble in the late 1990s. However, Bitcoin has very different fundamentals than early internet stocks and a much more promising growth trajectory.
