Bitcoin Today: Prices Trade Close to Flat as International Headlines Take Focus

Bitcoin prices remained near $7,500 in Monday trading, tallying the 12^th straight day the cryptocurrency hasn’t topped $8,000. Most of the other top digital assets by market value traded into the red, too.

Here’s what you can’t miss in cryptocurrencies for Monday, June 4.

If Bitcoin’s a Bubble, Get Ready for Panic

Economist Hyman Minsky theorized that any asset bubble has five stages: displacement, boom, euphoria, profit-taking and panic. According to Joost van der Burgt of the San Francisco Federal Reserve Bank, bitcoin is indeed a bubble and it’s rounding the corner on panic. Van der Burgt wrote that bitcoin is presently in the early parts of the profit-taking phase in its bubble crescendo. This is happening as “well-informed investors cash out before the bubble really bursts,” he wrote. “The subsequent ‘Panic’ phase, should it come to that, commences when reality sets in and bitcoin’s price would substantially crash.” While van der Burgt’s argument looks to bitcoin as a…