Cryptocurrencies and Bitcoin, in particular, continue to be the talk of the town with it hitting the $15000 mark for the first time. Bitcoin has seen a meteoric rise in its valuation with it gaining a more than 4X its value in mid-September which was $ 3500. It has been the source of inspiration for other cryptocurrencies like Ethereum, Monero or Dash.
The questions now have started to arise whether it is just a bubble and what might happen when it bursts. Bitcoin’s valuation has been seen to be very volatile, and in the past, it has suffered massive drops in a very short duration of time only to rise back up again. The rise in the value of this cryptocurrency has seen may businesses being developed around it if it is indeed a bubble and it bursts, all hell may break loose. Although Bitcoin enthusiasts are hopeful something like that will never happen, there are many who fear the outcomes and have even gone ahead to call it a Ponzi Scheme.