Is there a Bitcoin Mania? When we posted on Bitcoin last Monday we asked if you could be a millionaire by Thursday. Since that post went live, Bitcoin is up 61%. As our chart below shows, Bitcoin has gone parabolic. YTD Bitcoin is up 185% and over the last month it has gained 110%.
Maybe Bitcoin will turn out to be everything its promoters claim it to be. What isn’t a maybe is that a chart of Bitcoin bares a striking resemblance to the charts of almost every bubble in financial market history.
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Jeremy Jones, CFA
Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.
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