You use a lot of bot promotion bots to get the work of another author to trending therefor flag
...and on top of that the argument is silly. It´s like saying the dutch tulip crises wasn´t a bubble, because Goldman Sachs wasn´t in the market. You can´t just compare a set of assets and compare them to the rest of all money involved in all assets. That´s simply not relevant to the topic.
A bubble is a massive overvaluation of an asset in a given time interval. It´s more about the expected value of an asset and the willingness to take risks of the people on the market. Technically you can have a market cap of 1$ and still have a bubble.
What the graphic shows is how tiny the market cap is compared to other assets. It doesn´t tell us anything about bubbles or what not. In actual fact there are still mostly useless shitcoins out there. The more shitcoins the easier it is to reach a massively overvalued market. So, yes the talk about an upcoming bubble is reasonable.
The bubble is popped, long live the bubble!
the bubble has just started. with dirt for demand in btc could go up $10,000 to 1btc before September this year.
Or it could not. Surprise.
Enjoy the ride.
LOL.
I think the point to get out of these figures is that crypto is still relatively small compare to global money supply. Since Bitcoin is aiming at becoming global money and that money want to be used as THE unit of account it's fair compare them together.
refreshing to actually read a reasoned text about crypto these days
Agreed, this is not original content and should not be sent to trending, I've added my flag to the list.
That is very true, the chart only shows you the cap of markets, nothing about the authenticity of the value, not about bubbles not about anything else. I always wonder how these people get their posts to be very valuable and it's sad to know it's just a matter of bot promotion.