But is this actually true? And if cryptocurrencies are a “bubble” are there any other bubbles similar to them? To answer these questions we must first address what a “bubble” is.
An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is a situation in which asset prices appear to be based on implausible or inconsistent views about the future.wikipedia.org
Based on the description wikipedia is giving us cryptocurrencies are a bubble but the same goes for everything else. Gold, real estate, stocks and many more assets are bubbles, they just don’t vanish like tulips did.
Cryptocurrencies Are Not The Biggest Bubble
Here is an infographic from howmuch.net that visualize all bubbles that exist today from bottom to top.
Just by watching this infographic, we can say for sure that cryptocurrencies are not the biggest “bubble” and also we can see the potential that cryptocurrency ecosystem can reach.
I believe that is too soon for people to “calls names” of what something is and what it isn’t. We are in the very early stages of blockchain technology and the financial solutions it can provide to people.