The rapidly rising price of bitcoin is leading many to question if the digital currency’s boom is about to bust. Strategist Peter Schiff, for instance, recently warned “today’s bitcoin could be tomorrow’s beanie babies.” As of this writing, bitcoin is up almost 30% in the past month and over 100% in the past year. It has been hitting new highs on an almost daily basis and recently crossed the $1200 mark. So is there a bitcoin bubble about to burst?
Bitcoin: Boom or Bust?
The rapidly rising price of bitcoin is leading many to question if the digital currency’s boom is about to bust. Strategist Peter Schiff, for instance, recently warned “today’s bitcoin could be tomorrow’s beanie babies.” As of this writing, bitcoin is up almost 30% in the past month and over 100% in the past year. It has been hitting new highs on an almost daily basis and recently crossed the $1200 mark. So is there a bitcoin bubble about to burst?