Apr 9, 2025

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BofA Declares Bitcoin Bubble as Asset Surges Over 1,000%

John McAfee argued that bitcoin is not a bubble, stating that "bubbles are mathematically impossible in this new paradigm." In December 2017, when bitcoin traded under $17,000, it peaked at nearly $20,000 shortly after. However, by April 2018, analysts from Bloomberg and Bank of America labeled it as the largest bubble in history, comparing it to historical market crashes.

Key points include:

• Bitcoin experienced an 8,900% increase from $224 to its December 2017 peak.
• Unlike traditional bubbles, bitcoin rebounded significantly after downturns, returning to its all-time high within three years.
• Bitcoin has been declared "dead" 67 times since 2018 but has increased over 1,000% since then.
• Comparative analysis shows bitcoin's resilience against historical asset bubbles.

This information highlights the ongoing debate about bitcoin’s valuation and stability in the context of historical financial phenomena.