The recent rapid increase in the price of cryptocurrencies has resulted in many experts calling it a bubble and advising caution while investing. Aberdeen Asset Management is the latest to do so, arguing that like all bubbles, the virtual currency bubble will eventually burst too.
Bubble-like Characteristics
The growth in the valuation of cryptocurrencies in 2017 has been unprecedented. Bitcoin price has more than tripled in value, going from $900 in Jan 2017, to over $2,700 as of now.
This pales in comparison to Ethereum’s gains. Ether price has risen from ~$8 in January 2017, to $350 currently, a gain of over 4000 percent.
Read more: https://cointelegraph.com/news/cryptocurrency-bubble-will-burst-aberdeen-asset-management
Keep calm and try to filter out bullshit in main stream media ✌️
There will be correction after huge gain in any market. Bitcoin capitalization is only around 40 Bln which is noting in compression global economy. So Bitcoin and other cryptocurrencies are still in very early stage, compare it to 1995 Internet. As bitcoin already survived many bible burst, I am sure it will survive and thrive many bubbles in coming years.
They were saying the same for the last 3 years. I say hold!