Was Bitcoin in a Super Bubble?

With the price of Bitcoin down by approx. 78% from its all-time peak of $19,783, hit on December 17, 2017. it is a good time to consider whether Bitcoin was in a super bubble.

Last year in early December, roughly two weeks before the $19,783 price peak, I held the view that Bitcoin was in a super bubble. And so I put out a video discussing what constitutes a bubble and a super bubble and set some parameters of how to declare something a bubble or a super bubble.


Below is that video.



So at this point, Bitcoin has not been down long enough to declare it a super bubble, but a collapse of 78% means that if it doesn't hit a new peak above $19,783 by late December 17, 2022, it should be declared that Bitcoin was in a super bubble by the standards I set.

Indeed, I suspect that Bitcoin will be proven not only to have been in a super bubble but also a permanent bubble.

-RW