“Bitcoiners Go Wild After Goldman Revives Tulip Mania Comparison”
January 1, 2021
“Buzz that Goldman would release a report discussing the state of the economy as well as gold and cryptocurrencies set enthusiasts ablaze, with many hoping the bank would finally put its weight behind digital tokens. But Goldman disappointed and upset many once details of its report were brought to light, with the bank blasting Bitcoin and other coins as unsuitable investments for its clients…
Cryptocurrencies are notoriously volatile. Bitcoin has swung around wildly during the coronavirus crash and has since recovered, advancing near 30% this year. However, it’s still down 50% from its record peak reached in late 2017. Goldman in its report highlighted Bitcoin’s extreme volatility, singling out the March 12 session as an example, when the token dropped more than 25% amid a coronavirus-induced selloff.
Bitcoin gained as much as 4.1% to $9,225 in New York trading on Wednesday…”
https://finance.yahoo.com/news/bitcoiners-wild-goldman-revives-tulip-173511165.html