CryptoWatch: The bitcoin bubble now dwarfs tulips and dot-com stocks, Goldman warns

The chorus of bitcoin bears is growing louder by the day.

The latest to issue a stern warning against the world’s largest digital currency is Goldman Sachs’s investment management division, which wrote that there is “no doubt” that the cryptocurrency’s astronomical rise over the past year “has pushed it into bubble territory.”

The firm added that bitcoin’s “meteoric rise in a short time has dwarfed the rise seen during the dot-com bubble.” They added: “We also believe that cryptocurrencies have moved beyond bubble levels in financial markets, and even beyond the levels seen during the Dutch ‘tulipmania’ between 1634 and early 1637.

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