Bitcoin has survived 17 years and cannot be compared to tulip bubbles. Eric Balchunas and Garry Krug discuss the reasons why the resilience of crypto is making critics wrong.
Bitcoin keeps making its opponents wrong. The cryptocurrency is trading at an average of about 89,000, although it has experienced volatility in the recent past. Those who draw parallels between it and tulip mania fail to carefully consider an important aspect. Tulips failed after 3 years. Bitcoin has survived almost twenty years.
**You might also like:**Novogratz: $8 Billion Coinbase Valuation Proves Cryptos Are Not Tulips
Why Bitcoin’s Durability Destroys Bubble Narratives
Tulip mania lasted from 1634 to 1637. Prices skyrocketed and crashed by nearly 90 percent. The Dutch economy experienced a speculative boom and bust. It was soon terminated and never came back.
The story of Bitcoin is a different one. The cryptocurrency survived numerous obstacles. It emerged intact from regulatory raids and exchange crashes. Market cycles came and went. Bitcoin continued to recover in a bigger way.
The Asset Critics Love to Hate
Balchunas responded to enduring criticism. There are those who just hate Bitcoin. They desire to make followers angry. These opponents are rewriting old stories, rather than looking into facts.
The performance of Bitcoin says it all. Even a flat 2025 would not take away its course. The cryptocurrency justified itself with recurring rebounds. Such resilience is never exhibited in traditional bubbles.
Krug stressed the youthfulness of Bitcoin as a currency. The previous seventeen years proved something significant. Durability is more important than short-term volatility. Physical resources hold and multiply.
Breaking Free From Misconceptions
The argument of non-productive assets fails, too. Gold doesn’t produce returns. Rare art sits in museums. Bitcoin resembles stores of valuable wealth. It was legitimate by living on, unlike tulips.
Critics defy accumulated evidence. Balchunas observed that the fact that Bitcoin survived is in itself an object of admiration. The Bitcoin endured hardships never witnessed before. No bubble in history displayed such staying power.
The criticism is not perpetuated because it is true, as Krug on X remarks. They have been in place since the recognition of the success of Bitcoin demands challenging realities. Seventeen years of evidence do not support bubble stories.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Lombard and Humanity Protocol Lead Crypto Gains As Bitcoin Liquid Staking Explodes
The current technical development of the crypto market is marked by a major shift in the way cryptocurrencies are viewed and operated. This is evident in the top gainer lists, which increasingly show how protocols can be used for deep technological utilization rather than purely as speculative
BlockChainReporter13m ago
Data: 210 BTC transferred from an anonymous address, routed through an intermediary, then flowed into Cumberland DRW
ChainCatcher reports that, according to Arkham data, at 03:56, 210 BTC (worth approximately $14.92 million) was transferred from an anonymous address (starting with 168Bve...) to Cumberland DRW. Subsequently, Cumberland DRW transferred some of the BTC (57.42
GateNews14m ago
Data: In the past 24 hours, the entire network has liquidated $274 million, with long positions liquidated at $189 million and short positions at $85.9469 million.
ChainCatcher reports that, according to Coinglass data, the total liquidations across the entire network in the past 24 hours amounted to $274 million, with long positions liquidated at $189 million and short positions at $85.9469 million. Among these, Bitcoin long positions were liquidated at $72.5955 million, Bitcoin short positions at $31.1138 million, Ethereum long positions at $38.5414 million, and Ethereum short positions at $24.8499 million.
GateNews17m ago
Data: 838.89 BTC transferred from an anonymous address, routed through a relay, and flowed into Wintermute
ChainCatcher reports that, according to Arkham data, at 02:51, 838.89 BTC (worth approximately $50.26 million) was transferred from an anonymous address (starting with bc1qzudnxd...) to another anonymous address (starting with bc1qsxjg55...). Subsequently, this address transferred some BTC (130 coins) to Wintermute.
GateNews1h ago
