09 Nov It’s Time for Bitcoin to ‘Put up or Shut up’
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This year has been filled with negatives for cryptocurrencies, or at least cryptocurrency investors. Trading at insane prices towards the tail end of 2017, crypto values have fallen closer to earth, with a large majority shedding as much as 80 percent of their value. This has led to quite a bit crisis talk, with some commentators prophesying an imminent crypto crash. Economist Tyler Cowen, though, isn’t sounding the alarm — yet.
In an op-ed published in Bloomberg, Cowen, a professor at George Mason University, wrote that a crypto price crash could be beneficial to the market, as it could set the market up for something big in the future. He made references to the 19th-century bubble which saw the collapse of railroad stocks and the dotcom crash of 2000. In all these events, Cowen argued, there were some negatives with plenty of positives.
“Internet stocks plunged in the dot-com crash of 2000-2002, but that in turn cleaned out the bad…
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