Do you know the story of the tulip bulb bubble? In 1637, in the Netherlands, a tulip bulb reached the equivalent value of 4 oxen, or 8 pigs, or 12 sheep, or 2 barrels of wine, or 24 tons of wheat – an incredibly high price for a commodity whose sole purpose is to produce decorative flowers.The bulb prices soared irrationally until the first speculative bubble in history 'burst.' Various traders suddenly realized that the valuations were absurd and unjustified. They decided to dispose of the commodity before prices collapsed, triggering a massive sell-off, creating a sort of panic in the market.Perhaps it won't be in this bull run, maybe in the next, but there's a significant chance a bubble of that magnitude could burst in the cryptocurrency space, if it hasn't already. What I want to convey is to avoid succumbing to the FOMO of the moment and invest wisely.
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