Analysis News

Bitcoin (BTC) is not a tulip mania

MedX CEO James Todaro proves with the charts that Bitcoin is not a “tulip mania” (tulpenmanie) and no bubble, as enemies of cryptocurrencies and blockchain often call it.

MedX is the blockchain powered global healthcare market. Todaro is also a managing partner in the Blocktown Capital investment fund for blockchain-related businesses.

James Todaro believes that 5 bullish charts make it clear that Bitcoin is not a bubble.

1. Bitcoin exists 10, all known bubbles burst in a maximum of 3 years. (Dotcom – 9 years).

2. If you dollar cost averaged into bitcoin weekly, every year would result in positive returns at today’s prices, including 2018 and 2019.

3. Bitcoin dominates the best performing tech stocks in returns over the past decade, even when giving tech companies a 4 year head start.

4. Bitcoin still has a small capitalization; it surpasses only the Colombian peso and the New Zealand dollar. And this is its plus – it will have a tremendous growth. (There is tremendous room for bitcoin to grow into a global store of value)

5. Bitcoin makes it possible to earn up to 10,000% to everyone that was previously available only to large players (Returns over 10,000% were previously only available to accredited investors and VCs in the form of private equity deals. Bitcoin levels the playing field, allowing anyone to invest with the opportunity for tremendous gains)

Almost everything said by the expert can be attributed to other leading cryptocurrencies.