Week 8 - Festival of Economics
Our seventh task was to produce two charts either supporting or refuting an argument made at the Festival of Economics.
During the Festival of Economics 2022, I attended a panel discussion on Cryptocurrencies and the Future of Money. Members of the panel described the characteristics of a bubble and concluded that there is a cryptocurrency bubble.
The rapid increase in price of BTC seen in 2021 followed by the rapid fall appear to agree.
Price action in BTC seems to be similar in velocity to the NASDAQ during the dot-com bubble in 2000.