"Cult Markets: When The Bubble Bursts"

Published in FT Alphaville on 2014-09-19, "Cult Markets: When The Bubble Bursts" declared Bitcoin dead or fundamentally doomed. The piece drew parallels to historical speculative manias, arguing that Bitcoin's price was entirely disconnected from any fundamental value. Bitcoin was trading at $392 at the time of publication. Bitcoin was in a sustained bear market following the Mt. Gox exchange collapse, which erased $400 million in customer funds.