„Bitcoin is a bubble like no other,“ says the world’s largest publicly traded hedge fund manager
Man Group analysts also pointed out that all these eras of ups and downs can be part of the digital currency path to a much more stable and mature market.
Is Bitcoin a bubble? This is one of the doubts that many people who invest in cryptomarket have. While many guarantee that it is not, others say it is and even warn that the bubble situation is common in any new asset, the internet has not ceased to be the most profitable tool in the world because of the bubble […]com.
A recent report published by Man Group, the world’s largest listed hedge company, says that Ethereum Code really is a bubble completely different from the others that have existed.
Man Group is a global investment management company that manages $108.3 billion of client capital in liquid and private markets.
According to the company, the exclusivity of the digital currency lies in the fact that the „bubble“ always grows back, rather than bursting for good.
Man Group analysts highlighted this „quality“ of Bitcoin, even comparing the digital currency to the „Prometheus Liver“, which always grew again after being devoured by a giant eagle in Greek mythology.
„Every time the Bitcoin bubble burst, another one grows to replace it.
This frequency makes Bitcoin’s narrative atypical in relation to the other great bubbles of the past“.
Despite the comparison with other bubbles, Man Group analysts also pointed out that all these eras of ups and downs can be part of the currency’s path to a much more stable and mature market, something that is advocated by cryptomime supporters.
„Instead of considering each rise and fall as a discrete bubble, perhaps there is more merit in arguing that this volatility is simply part of price discovery in a new class of assets and that these are not bubbles, but part of a not-so-random walk that will eventually give Bitcoin more stability and, ultimately, legitimacy,“ the analysts wrote.
Although it has more than a decade of life, Bitcoin is still considered a very recent asset, with a nature that has not been completely studied and determined by the market.
Thus, Bitcoin still has a path of volatility before finding more maturity.
But it is worth mentioning that, especially since 2017, Bitcoin has already evolved considerably, with stronger fundamentals and even a more present institutional adoption.« Houders van cryptografische producten in het Verenigd Koninkrijk kunnen geen winst storten bij banken.