Wandering Alpha Team
Tulips, Bitcoin and The Irrational Market Run
Updated: Sep 11, 2021
In 2017 many people swapped Tulips for Bitcoins.
Think about it, the people who bought tulips on Feb 3rd, 1637, could have made a fortune if they sold on Feb 4th. But the ones who got in on the 4th lost everything on Feb 5th, 1637. One day can break you into an irrational market run, and today you won't even be left with a tulip to catch your tears.
The safe money to be made in Bitcoin has already come and gone. Visionary investors, early believers, and the others who just got lucky were already in the Bitcoin market when it was under $1,000. The same was true for people who purchased tulips in 1634/35.
We can't predict if/when Bitcoin will crash. It could very well go to $25,000 in 2018 at this rate. But main street investors have to question what they are buying and with what risk profile. Do you even know your risk exposure in Bitcoin?
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