Dr. GEORGE THEOCHARIDES

BEng, MBA, PhD, ACSI, Cert IoD

Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally

November 30, 2017

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REUTERS

The meteoric rise of the price of Bitcoin is surely a bubble, the only question is when the bubble will burst. So some traders want to take uncalculated risks and try to ride the bubble, and that's ok. No matter what happens though, the technology behind these cryptocurrencies (blockchain) is here to stay and will inevitably change the way we do things (similar to what the internet has done in the 90s).

I had the personal experience of living through the dot.com bubble of the late 90s, residing in the Los Angeles area and working with lots of internet start-ups. I have experienced the same hysterical, uncontrolled atmosphere at the time. As it was expected, from Spring of 2000 these start-ups were shutting down one after the other, but the few that remained (eBay, Amazon, Google, etc.) have really changed the world.

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