Bitcoin Mania Hitting $10,000!

I will not keep a wave count with Bitcoin as any mania will just keep crushing  any wave count that we can come up with.  Investing in Bitcoins is a myth as all Bitcoin is, is another vehicle for speculation.  It is used by crooks as blackmail payment, and Bitcoin has been robbed so many times that it boggles the mind.  Hacking Bitcoin seems to be a favorite pastime. If it goes to $10,000 or $20,000 is irrelevant as massive price swings, makes it very unstable for any other use. 

This Bitcoin thing is in a “Mania”  alright,  and the charts below compare Bitcoin to other manias that we’ve had. 

 

 

The Tulip Mania is still the king of bubbles, with the Bitcoin running second.  I disagree with the “Tulipomania” time period as 1634-1637 is a more consistent time period.

 

Crypto Wallet Company Faces More Problems After July Hack – Bloomberg

BitPay Hacked, 5 000 Bitcoins Stolen – CryptoCoinsNews

Bitcoin Mania: The Bitcoin Bubble