Analytics consider Bitcoin as biggest bubble in history

According to Convoy Investments research, Bitcoin price rose in 64 times for last 3 years
13 December 2017   841

A month ago, Convoy Investments published a chart, which showed the largest financial bubbles in world history. Then bitcoin was second only to the "tulipmania" of the XVII century, but after several weeks of rapid growth, the first crypto currency finally came to the forefront, reports Zerohedge.

As a result, analysts Convoy Howard Wang and Robert Wu have updated their "bubble chart."

Convoy Investments Bubble Chart
Convoy Investments Bubble Chart

Its price has now gone up over 17 times this year, 64 times over the last three years and superseded that of the Dutch Tulip’s climb over the same time frame.

Howard Wang
Convoy Investments

It was three years in the Netherlands that the excitement around the bulbs of tulips lasted from 1634 to 1637.

Well known billionaire investor Mike Novogratz predicted at the end of September that crypto-currencies would leave all the other bubbles far behind. 

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   74

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.