Many public figures in the traditional financial sector including JPMorgan CEO Jamie Morgan have criticized Bitcoin, describing it as a bubble. However, because of its decentralized, mathematical and transparent nature, it is highly inaccurate to call Bitcoin a bubble of any sort.

Tesla, Amazon, Bitcoin “Bubbles”
Bitcoin is not a bubble, contrary to the dishonest and non-factual claims of bank executives. There was a bubble in Bitcoin in 2013 when the demand for Bitcoin rose to a point where the market could no longer support it and the Bitcoin price crashed from $1,300 to $200. But, it is not accurate to call Bitcoin itself a bubble, the same way it is not accurate to describe Amazon or Tesla a bubble.

Even up until April of this year, analysts described Tesla’s exponential increase in value a “bubble,” as analysts did with Amazon throughout the company’s 20 years of existence. Six months ago, Matthew DeBord, the transportation editor at Business Insider, wrote:

“At this point, a Tesla bubble looks obvious and it looks as obvious as it has since early this year. The difference now is that it's grown so large that it's become terrifying.”

Another “expert” Greenlight Capital's David Einhorn, stated that Tesla is a bubble that will not pop anytime soon, but it is a bubble. "In due time, we expect these bubbles to pop,” said Einhorn.

It is important to acknowledge this trend in any emerging company, technology and startup. Analysts and experts are quick to claim that anything is a bubble, given its rapid increase in value and exponential growth rate.

From November 2013 to January 2018, the share price of Tesla has increased from around $20 to $336, with many minor and major corrections. In December, the price of Tesla shares dropped by over $100, from $250 to $150, due to the company’s struggling finances. Still, over time Tesla recovered and it developed a sustainable business, a market, and most importantly, a consumer base identical to how Bitcoin has evolved into a sustainable financial network, a robust market and secured an active consumer base of tens of millions of users.

Furthermore, it is far-fetched to claim that the Bitcoin market, which has a similar liquidity and trading volume of Apple, the world’s most liquid stock at $3.3 bln daily trading volume, because it has significantly matured since its introduction in 2009. (J Young)

Overall, the crytpocurrency industry is growing as a whole and seems to be moving in the right direction, we are at the forefront of a financial revolution with the aim of empowering users from across the globe. Very early in our stride we have already achieved a great deal and will most definitely continue to do so.

This article is written by J Young from coin-telegraph. Great read!