"Greater fool theory"

Published in The Economist on 2017-11-01, "Greater fool theory" declared Bitcoin dead or fundamentally doomed. The piece argued that Bitcoin's fundamental flaws — including volatility, scalability limitations, and lack of intrinsic value — made long-term survival unlikely. Bitcoin was trading at $6,253 at the time of publication. Bitcoin was in the midst of an extraordinary bull run, rising from $1,000 to nearly $20,000 by December.