Talk of a Bubble Intensifies as Price of Cryptocurrency Bitcoin Soars | NBC 10 Philadelphia

Is bitcoin in a bubble?

The price of bitcoin has been soaring this year, and last week alone it jumped from $11,000 to well over $17,000, according to Coindesk. It started the year below $1,000.

That rocketing level of appreciation smells a lot like an irrational investor mania to many economists and financial pros, the kind that sent prices for unprofitable startup internet companies soaring in the dot-com boom. Those prices eventually came crashing down.

“We saw this in the 1990s,” says Barry Ritholtz, chairman and chief investment officer of Ritholtz Wealth Management. “Any of those things sound familiar? ‘This is unique, this will change everything?'”

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Talk of a Bubble Intensifies as Price of Cryptocurrency Bitcoin Soars – NBC 10 Philadelphia.