"Bitcoin is a massive bubble"
BTC_AT_TIME $22,805
Published in Bloomberg on 2020-12-17, "Bitcoin is a massive bubble" 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 $22,805 at the time of publication. Bitcoin weathered a COVID-driven March crash before surging to new highs near $30,000 by year-end.