Is Bitcoin a bubble?

No, bitcoin is not a bubble. It’s not going to come crashing down to earth and it’s certainly not going to return to zero. We’ve long passed the point of no return for that to happen. That won’t stop the B-word being trotted out every time bitcoin gains or sheds another $2,000 however. There will be corrections along the way – no asset in history has ever ascended in a straight line – but bitcoin is not about to pop. It wasn’t a bubble at $3,000, it’s not a bubble at $11,000, and it still won’t be next week after a dozen more op-eds have posed this question.