Cryptocurrency Bubble Risks Exposed by Bitcoin

They seem to be almost everywhere. Cool hipsters living their dreams by making a fortune in the world of cryptocurrencies.

Social media sites are full of them. Even old-school fashion magazines, which barely cling to life, tell grandiose and not entirely true stories of fabulous riches to be won on air.

They certainly exist. Those who got in early or built financial structures to facilitate exchanges that old banks and brokerage firms like to admit have amassed unimaginable wealth.

But what about the hoi polloi? How many newcomers to cryptocurrency trading, for example, lost their savings last weekend when Bitcoin and the crypto universe collapsed?

Like slot fans and party tracking, winnings are talked about and losses are often forgotten.

The amulet can be the same; a chance to get rich, a great time. But unlike regular players, many cryptocurrency advocates have embraced what they see as the future of finance, with religious fanaticism isolating them from reality.

Launched in 2009, Bitcoin was supposed to free ordinary citizens from the chains of government and nation; an alternative, independent and truly global financial system.

They seem to be almost everywhere. Cool hipsters who live their dreams, amassed their fortune in the world of cryptocurrencies.

Social media sites are full of them. Even old-school fashion magazines, which barely cling to life, tell grandiose and not entirely true stories of fabulous riches to be won on air.

They certainly exist. Those who got in early or built financial structures to facilitate exchanges that old banks and brokerage firms like to admit have amassed unimaginable wealth.

But what about the hoi polloi? How many newcomers to cryptocurrency trading, for example, lost their savings last weekend when Bitcoin and the crypto universe collapsed?

Like slot fans and party tracking, winnings are talked about and losses are often forgotten.

The amulet can be the same; a chance to get rich, a great time. But unlike regular players, many cryptocurrency advocates have embraced what they see as the future of finance, with religious fanaticism isolating them from reality.

Launched in 2009, Bitcoin was supposed to free ordinary citizens from the chains of government and nation; an alternative, independent and truly global financial system.

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