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Analyst: Bitcoin is no longer a tulip bubble-like asset, resilience and multiple cycles in 17 years prove its uniqueness
Summary: According to Bloomberg senior ETF analyst Eric Balchunas, despite the recent significant pullback in Bitcoin, comparing it to the tulip bubble of the 17th century is not appropriate. He pointed out that the tulip market only lasted about three years, and was completely eliminated after a collapse; whereas Bitcoin has experienced 6-7 severe downturns, hit ...
According to Bloomberg senior ETF analyst Eric Balchunas, despite the recent significant pullback in Bitcoin, comparing it to the tulip bubble of the 17th century is not appropriate. He pointed out that the tulip market only lasted about three years, and was completely eliminated after a collapse; whereas Bitcoin has experienced 6-7 severe downturns, hit historical highs multiple times, and survived for the past 17 years.
Bitcoin has continued to rise by about 250% in the past three years, and surged by 122% last year. The current decline seems more like a correction from last year's excessive rise, and even if it remains flat or slightly falls for the whole of 2025, its long-term average annual return is still around 50%.
Eric emphasized that the only common point between Bitcoin and tulips is that they are non-productive assets, but gold, Picasso paintings, rare stamps, and other non-productive assets have long been considered valuable. The tulip bubble was a typical one-time frenzy + collapse structure, while Bitcoin is clearly in a completely different asset category.
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Link: Analyst: Bitcoin is no longer a tulip bubble-like asset, resilience and multiple cycles in 17 years prove its uniqueness [Copy]
