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Welcome to the Academy

Bitcoin is often compared to the economic bubbles like the Tulip Mania of 1636, but by their nature bubbles are discrete one-off events. You cannot reinflate a burst balloon, so if the 2017 bull-run was a bubble, how come Bitcoin recovered and has now surpassed that high?

Cryptocurrencies do experience significant price volatility but should be evaluated over broad time periods. 2014 and 2018 were the only years where Bitcoin's price was lower at the end than it started.

If you zoom out and look at long term average indicators Bitcoin's appreciation is consistent. The monthly price has never closed below its 200 day Weekly Moving Average.