In the past 24 hours, Bitcoin has skyrocketed to over $16,000, intensifying the debate on whether the market bubble on the cryptocurrency is about to burst.
“Analysts seem to be completely divided on what this actually means. Half the people say 'It's the real deal.' The others are screaming, 'Get out!' Is this the mother of all bubbles getting ready to crash?” asked Glenn on the show today. He added, “Bitcoin at some point could crash -- and that’s a long way down."
Glenn broke out the chalk and charts, some string and even a nifty power-lift to take an in-depth look into modern history’s biggest market crashes and compare them to what’s going on with Bitcoin now.
- Remember the housing crash of 2008?
- How about Japanese stock market crash in the 80’s?
- Then there was the internet bubble that started in the 1990’s.
All of these market bubbles were years in the making. Compare that to Bitcoin, which has gained by about 2000 percent in less than one year.
Watch the video clip above to get the full scoop on the Bitcoin bubble.