Bitcoin’s rise dwarfed the Nasdaq Composite Index’s gain during the headiest days of the 1990s. The magnitude of bitcoin’s boom (before it lost as much as 48% from its 18 December high) suggests investors have reason to be worried. Going further back, it comfortably outstripped the Mississippi and South Sea bubbles of the 1700s. On an annualized basis, bitcoin’s three-year rise has been slower than the gains seen during several of history’s biggest manias—most notably the Mississippi and South Sea bubbles. Only time will tell whether Grantham and other bears are right, wrong, or just too early when it comes to bitcoin.

Source: Mint January 17, 2018 09:56 UTC