Could bitcoin’s price be in a bubble?

“It’s going to the mooooon!” pretty much sums up most popular analyses you’ll find about Bitcoin’s price. But do many consider that perhaps quite the opposite may be true? That due to the average person’s deep-seated discomfort with the trappings of cryptography, Bitcoin holders are actually making an incorrect bet — and are smack in the middle of a bubble? What is a bubble in economics?  I like the definition used by Doug French, paraphrased as: the state of an asset class’s price when a significant number of its buyers are purchasing not to actually use the thing, but simply because they expect its price will go up. Read more: