Is there really a bubble in cryptocurrencies?
Money managers, bankers, talking heads on TV and a cast of thousands have declared Bitcoin, LTC, ETH and others the next "bubbles." Well I have a question for the naysayers. If people are fleeing fiat currencies for cryptos, where do they run if the bubbles supposedly burst? Back to fiat? The premise of a bursting bubble assumes confidence in fiat still exists. Why go back to something from which you are running? Maybe we're simply witnessing the early stages of wealth transfer from fiat to cryptos.
Its said that the bubble only bursts when the last cynic buys in ! If anyone hears of Warren Buffet et al buying crypto, let me know as that will be the time get the hell out !