I still remember the moment my brother decided to sell his bitcoin. It was 2017, and we were at a Starbucks. We were approached by a middle-aged woman who was giving away pamphlets to anyone who would take one. “BITCOIN: a path to early retirement” was written in bold font at the top.
I was curious, so I asked her what she thought of the cryptocurrency market more generally, but it turned out that she knew of no other cryptocurrency besides bitcoin. Ethereum? “Never heard of it.” Litecoin? “That’s the cheap version of bitcoin, right?” Now, as a rule of thumb, when even the clueless middle aged lady at the local Starbucks is pitching you on the latest tech trend, you’re probably approaching peak hype. Or, if you prefer, a “bubble”.
Author: Jeremie Harris