Goldman Sachs with a note out on BTC and cryptocurrency, warning on overvaluation
- No doubt BTC rise over the past year has pushed it into bubble territory
- The "meteoric rise in a short time has dwarfed the rise seen during the dot-com bubble"
Cryptocurrencies
- have moved beyond bubble levels in financial markets
- and even beyond the levels seen during the Dutch 'tulipmania' between 1634 and early 1637
There is plenty more from the Goldman Sachs piece here at Market Watch, including this (ps. why wait, you may as well laugh now):
- Such stock moves, Goldman wrote, recalled a quote by the Dutch historian Theodorus Schrevelius. After the tulip bubble burst, Schrevelius wrote that "our descendants doubtless will laugh at the human insanity of our Age, that in our times, the tulip flowers have been so revered."
