Current crypto craze has the makings of another Tulip Mania
moneycontrol.comAs a first-hand witness to, and victim of, the turn-of-the-century dot-com boom and bust, the present crypto craze is seriously alarming. The ingredients are similar enough to evoke a strong sense of déjà vu. Now, as then, there was the early and extraordinary success of a handful of investors which set off the mad rush in which people were in a hurry to leave well-paid jobs and plunge themselves into the newest lottery in town. It is the same with the current craze about cryptocurrencies. This week, the value of a relatively obscure token, KokoSwap, rose 70000 percent overnight.
Also read: Genuine opportunity or plain greed? What attracts retail investors to cryptocurrencies?
Its consequences could be equally disastrous, for when this bubble
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