Bitcoin Hasn’t Reached Mania Stage Yet, According To This Metric

bitcoin tulip mania 980x441

Everywhere you turn on the internet – from mainstream media to Twitter, Reddit, and more – the conversation centers around Bitcoin. Celebs are promoting it, companies are now holding it, and even cities are considering the cryptocurrency. According to metrics, however, Bitcoin hasn’t yet reached mania stage, but it might do so before the next cycle has peaked if it follows a similar path as the last bull market. Bitcoin Trades At Nearly $50,000 But Mania Levels Are Nowhere Near Bitcoin is just inches away from breaking $50,000 and setting another new all-time high price record. The leading cryptocurrency by market cap has had an incredible start to 2021 after smashing its former peak to close 2020. Post-pandemic economic conditions, monetary policy, and a shift in trust in the government has propelled Bitcoin to the forefront of finance. Its use as a hedge against inflation, among other reasons, has caused…

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