This Graph Shows The Bitcoin Obsession Has Surpassed 'Tulip Mania'

One of the greatest bubble stories in the history of financial markets dates back to the 1600s and is referred to as Tulip Mania. The price of fashionable tulips, highlighted by "Wall Street" character Gordon Gekko, soared in value astronomically before crashing down almost as quickly.

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Tulip Mania also happens to be the first reasonably well documented asset bubble crash, according to Statista. Normally this event isn't talked about, but appears to be significant given the surge in bitcoin's value throughout 2017.

Some observers are saying that bitcoin's rally could end up replacing Tulip Mania as a "reference for a badly overinflated asset bubble prone to burst at any momentum, Statista said. But for the time being no one can predict if bitcoin's recent decline from just shy of $20,000 to the $17,000 level is the early stages of a massive collapse or a dip that investors will take advantage of. You will find more statistics at Statista

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