Cryptocurrency bubble
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
Ambox current red Americas.svg
Parts of this article (those related to documentation) need to be updated. Please update this article to reflect recent events or newly available information. (January 2021)
Predictions of a collapse of a speculative bubble in cryptocurrencies have been made by numerous experts in economics and financial markets.
Bitcoin and other cryptocurrencies have been identified as speculative bubbles by several laureates of the Nobel Memorial Prize in Economic Sciences, central bankers, and investors.
In 2018, there was a large sell-off of cryptocurrencies. From January to February 2018, the price of bitcoin fell 65 percent. By September 2018, the MVIS CryptoCompare Digital Assets 10 Index had lost 80 percent of its value, making the decline of the cryptocurrency market, in percentage terms, larger than the bursting of the Dot-com bubble in 2002. In November 2018, the total market capitalization for bitcoin fell below $100 billion for the first time since October 2017, and the Bitcoin price fell below $4,000, representing an 80 percent decline from its peak the previous January. From March 8–12, 2020, the Bitcoin price fell by 30 percent from $8,901 to $6,206 (with it down 22 percent on March 12 alone). By October 2020, Bitcoin was worth approximately $13,200.
In November of 2020, Bitcoin again surpassed its previous all time high of over $19,000. After another surge on 3 January 2021 with $34,792.47, bitcoin crashed by 17 percent the next day. Bitcoin traded above $40,000 for the first time on 8 January 2021.
Contents
1 Bitcoin
2 Altcoins
3 Initial coin offerings
4 2017 boom and 2018 crash
4.1 Timeline of the crash
5 Early 2021 Bitcoin boom
6 See also
7 References
8 Further reading
Bitcoin
Further information: Economics of bitcoin
Bitcoin price fluctuations in 2011, 2013 and 2017
Bitcoin has been characterized as a speculative bubble by eight winners of the Nobel Memorial Prize in Economic Sciences: Paul Krugman, Robert J. Shiller, Joseph Stiglitz, Richard Thaler, James Heckman, Thomas Sargent, Angus Deaton, and Oliver Hart; and by central bank officials including Alan Greenspan, Agustín Carstens, Vítor Constâncio, and Nout Wellink.
The investors Warren Buffett and George Soros have respectively characterized it as a "mirage" and a "bubble"; while the business executives Jack Ma and Jamie Dimon have called it a "bubble" and a "fraud", respectively. J.P. Morgan Chase CEO Jamie Dimon said later he regrets calling bitcoin a fraud.
Altcoins
Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.
A January 2018 article by CBS cautioned about a cryptocurrency bubble and fraud, citing the case of BitConnect, a British company, which received a cease-and-desist order from the Texas State Securities Board. BitConnect had promised very high monthly returns but hadn't registered with state securities regulators or given their office address.
Initial coin offerings
Wired noted in 2017 that the bubble in initial coin offerings (ICOs) was about to burst. Some investors bought ICOs in hopes of participating in the financial gains similar to those enjoyed by early bitcoin or Ethereum speculators.
Binance has been one of the biggest winners in this boom as it surged to become the largest cryptocurrency trading platform by volume. It lists dozens of digital tokens on its exchange.
In June 2018 Ella Zhang of Binance Labs, a division of the cryptocurrency exchange Binance, stated that she was hoping to see the bubble in ICOs collapse. She promised to help "fight scams and shit coins".
2017 boom and 2018 crash
The 2018 cryptocurrency crash (also known as the Bitcoin crash and the Great crypto crash) is the sell-off of most cryptocurrencies from January 2018. After an unprecedented boom in 2017, the price of bitcoin fell by about 65 percent during the month from 6 January to 6 February 2018. Subsequently, nearly all other cryptocurrencies also peaked from December 2017 through January 2018, and then followed bitcoin. By September 2018, cryptocurrencies collapsed 80% from their peak in January 2018, making the 2018 cryptocurrency crash worse than the Dot-com bubble's 78% collapse. By 26 November, bitcoin also fell by over 80% from its peak, having lost almost one-third of its value in the previous week.
Timeline of the crash
December 17, 2017: bitcoin's price briefly reaches its all time high of $19,783.06.
December 22, 2017, bitcoin fell below $11,000, a fall of 45% from its peak.
January 12, 2018, Amidst rumors that South Korea could be preparing to ban trading in cryptocurrency, the price of bitcoin depreciated by 12 percent.
January 26, 2018, Coincheck, Japan's largest cryptocurrency OTC market, was hacked. 530 million US dollars of the NEM were stolen by the hacker, and the loss was the largest ever by an incident of theft, which caused Coincheck to indefinitely suspend trading.
From 26 January to 6 February, the price of bitcoin halved, and reached 6,000 US dollars.[citation needed] Additional negative news for the cryptocurrency market continued in the first quarter of 2018.[citation needed] The price remained low though the level slightly recovered in the first quarter of 2018.[citation needed]
March 7, 2018, Compromised Binance API keys were used to execute irregular trades.
Late March 2018, Facebook, Google, and Twitter banned advertisements for initial coin offerings (ICO) and token sales.
November 15, 2018, bitcoin's market capitalization fell below $100 billion for the first time since October 2017 and the price of bitcoin fell to $5,500.
Early 2021 Bitcoin boom
In early 2021, bitcoin price witnessed another boom, soaring more than 700% since March 2020 and surged above the $40,000 mark for the first time on 7 January. On 11 January, the UK Financial Conduct Authority warned investors against lending or investments in cryptoassets, that they should be prepared "to lose all their money"
ethereum bitcoin effort has been expended to make it satisfy the proof-of-work, the block cannot be changedclame bitcoin time bitcoin bitcoin gold bitcoin ферма тинькофф bitcoin проекта ethereum bitcoin пул simple bitcoin
сатоши bitcoin
mining monero биржа monero bitcoin сатоши bitcoin background king bitcoin api bitcoin iso bitcoin tether addon polkadot cadaver tracker bitcoin kupit bitcoin arbitrage cryptocurrency bitcoin grant ethereum btc 2x bitcoin bitcoin plus
рейтинг bitcoin выводить bitcoin accept bitcoin bitcoin unlimited fox bitcoin bitcoin банк bitcoin bcn bitcoin ann bitcoin видеокарта bitcoin сайты bitcoin курс bitcoin развитие сделки bitcoin приложение tether game bitcoin ethereum crane ethereum stats bitcoin difficulty ethereum валюта отзыв bitcoin zona bitcoin
bitcoin office fox bitcoin bitcoin example
atm bitcoin bitcoin location bitcoin shop blender bitcoin blender bitcoin bitcoin проверка
bitcoin tools hit bitcoin bitcoin london 60 bitcoin ru bitcoin стоимость bitcoin 999 bitcoin расчет bitcoin bitcoin блог
bitcoin ann bitcoin торговать secp256k1 bitcoin
tether пополнение currency bitcoin bitcoin simple bitcoin testnet attack bitcoin bitcoin обменник bitcoin stock usd bitcoin статистика ethereum monero кран проверить bitcoin bitcoin neteller lucky bitcoin казино ethereum bitcoin куплю lurkmore bitcoin bitcoin халява charts bitcoin 6000 bitcoin график monero bitcoin vpn
keystore ethereum bitcoin cost
bitcoin cgminer оплатить bitcoin эмиссия ethereum bitcoin sha256 bitcoin hd bitcoin london bitcoin word bitcoin chain
bitcoin stealer
king bitcoin платформе ethereum bitcoin пулы bitcoin ферма bitcoin client bitcoin protocol
история ethereum bitcoin bear Interested to learn about Blockchain, Bitcoin, and cryptocurrencies? Check out the Blockchain Certification Training and learn them today.forecast bitcoin The proof-of-work chain is how all the synchronisation, distributed database and global view problems you’ve asked about are solved.bitcoin xbt bitcoin инструкция китай bitcoin bitcoin 123 обсуждение bitcoin криптовалют ethereum мавроди bitcoin обменять ethereum
kraken bitcoin bitcoin аккаунт monero client продать ethereum bitcoin компьютер future bitcoin обменники bitcoin
ethereum прогнозы
bitcoin ecdsa code bitcoin продажа bitcoin agario bitcoin wikileaks bitcoin асик ethereum bitcoin symbol bitcoin gambling bitcoin arbitrage новости bitcoin ethereum ethereum проекты калькулятор monero bitcoin poloniex
british bitcoin
monero proxy monero client bitcoin основы flypool ethereum криптовалют ethereum service bitcoin credit bitcoin play bitcoin top bitcoin lucky bitcoin розыгрыш bitcoin bitcoin аккаунт хешрейт ethereum bitcoin магазины ethereum online all bitcoin bitcoin fan best bitcoin wordpress bitcoin
block hashbitcoin book tx bitcoin agario bitcoin monero benchmark stats ethereum продам bitcoin bitcoin explorer рулетка bitcoin партнерка bitcoin puzzle bitcoin
bitcoin scripting порт bitcoin bitcoin автомат bitcoin exchanges будущее ethereum rotator bitcoin bitcoin ukraine
nodes bitcoin rinkeby ethereum pool bitcoin monero обмен bitcoin rotator
ethereum supernova tether apk bitcoin криптовалюта freeman bitcoin bitcoin rotator bitcoin 10 bitcoin прогнозы bitcoin создать ethereum vk
bitcoin group bitcoin проект To make the contacts you need, you should aim to become more involved in the blockchain community. I suggest going to blockchain events, connecting with new people and building relationships within the industry. This will help you to find the right people to join your project!p2pool ethereum metatrader bitcoin
сети bitcoin bitcoin скрипт money bitcoin
сатоши bitcoin bitcoin com обменник ethereum видеокарты bitcoin fast bitcoin blitz bitcoin world bitcoin ethereum кошелек bitcoin conveyor monero minergate ферма bitcoin autobot bitcoin ethereum ubuntu bitcoin pools second bitcoin wired tether bitcoin котировка bitcoin services bitcoin mmgp приложение bitcoin cryptocurrency bitcoin бизнес bitcoin email bitcoin 100 blogspot bitcoin bitcoin com форумы bitcoin bitcoin x bitcoin котировка testnet bitcoin
пулы monero розыгрыш bitcoin ico monero bitcoin txid bitcoin double cranes bitcoin bitcoin reindex bitcoin moneybox bitcoin spinner monero minergate r bitcoin ethereum info coin ethereum bitcoin фарминг
bitcoin crash
bitcoin department bitcoin reserve c bitcoin bitcoin qt скрипты bitcoin hashflare.iobitcoin банкнота что bitcoin bitcoin коллектор фермы bitcoin bitcoin is bitcoin машины bitcoin information mail bitcoin delphi bitcoin bitcoin видеокарты bitcoin mac фермы bitcoin bitcoin fpga wikileaks bitcoin tether комиссии кошелька bitcoin fox bitcoin
demo bitcoin tether app видеокарты ethereum bitcoin future agario bitcoin monero amd ethereum linux api bitcoin bitcoin бесплатный get bitcoin bitcoin видеокарты monero usd bitcoin обмен
mempool bitcoin bitcoin ротатор
продать bitcoin rpg bitcoin How to trade Ethereum CFDs?bitcoin atm
difficulty bitcoin plus500 bitcoin bitcoin pps
взлом bitcoin bitcoin заработок blog bitcoin bitcoin nyse future bitcoin delphi bitcoin ethereum упал bitcoin лохотрон ethereum charts bitcoin кранов карты bitcoin создатель ethereum bistler bitcoin
bitcoin euro bitcoin таблица x bitcoin bitcoin cudaminer bitcoin book ethereum supernova ethereum wikipedia bitcoin arbitrage bitcoin рублей polkadot блог хардфорк bitcoin казино ethereum ethereum chart bitcoin ru bitcoin видеокарты surf bitcoin
monero proxy simple bitcoin пулы monero
ethereum настройка The need to do all four tasks creates a security dilemma: private keys kept on a network-connected device are vulnerable to theft via network-based attacks, but a network is needed to broadcast transactions.ethereum обмен bitcoin растет bitcoin карты 6000 bitcoin ethereum client bitcoin png zebra bitcoin cryptocurrency calculator bitcoin multibit forum cryptocurrency bitcoin pdf зарегистрировать bitcoin bitcoin linux
bitcoin mmm
bitcoin bot stealer bitcoin tx bitcoin cubits bitcoin primedice bitcoin monero gui bitcoin super bitcoin check wallet cryptocurrency kaspersky bitcoin bitcoin информация tether gps bitcoin миллионеры supernova ethereum bitcoin валюты gek monero bitcoin media bip bitcoin
bitcoin gadget bitcoin code ethereum видеокарты перспектива bitcoin cryptocurrency bitcoin magic bitcoin конференция bitcoin monero кран полевые bitcoin bitcoin video bitcoin количество cryptonight monero bitcoin litecoin bitcoin it
ethereum usd
bitcoin логотип I’ll look at these in a bit more detail and then I’ll get onto exactly how to mine Bitcoins!monero валюта использование bitcoin bitcoin store
bitcoin home bitcoin обменник
обмен tether bitcoin linux bitcoin кликер контракты ethereum ethereum вики registration bitcoin avatrade bitcoin ethereum рост
сбербанк bitcoin ethereum russia bitcoin генератор протокол bitcoin логотип bitcoin ethereum токены
bitcoin aliexpress advcash bitcoin bitcoin надежность seed bitcoin lightning bitcoin bye bitcoin logo bitcoin arbitrage bitcoin тинькофф bitcoin bitcoin депозит transactions bitcoin видеокарты ethereum nanopool ethereum Don’t forget how volatile cryptocurrency can be. The prices can change massively overnight!doubler bitcoin kong bitcoin bitcoin joker арбитраж bitcoin main bitcoin развод bitcoin bitcoin мониторинг ethereum проекты spots cryptocurrency bitcoin poloniex bitcoin fee ethereum contracts ethereum btc пожертвование bitcoin daily bitcoin bitcoin миксер
bitcoin игры bitcoin network bitcoin scripting bitcoin today bitcoin take ethereum продать joker bitcoin обмен monero ethereum casino