In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
The moral of the story is to stay away from bubbles but never read too much into them. Always remember that at the end of the day, a bubble is nothing but a bunch of fools wasting their money on an overpriced asset. A bubble is simply normal human behavior not necessarily a sign of the apocalypse.
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This certainly looks like a bubble that is being driven by fears of inflation. A great many people in the market are afraid the dollar is about to collapse so they’re looking for a hedge.
Bitcoin in particular is great hedge, because it is almost instantly convertible into other currencies, unlike gold. That makes it the perfect alternative for average people who are scared of the dollar.
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