泡沫形成的几个条件，灰色部分

 

an excellent tweet this morning highlighting the 4 key conditions (from William Bernstein’s “The Four Pillars of Investing”) for a bubble to be in place:

Bitcoin (and cryptocurrencies as a whole) has every single one of these. The 4th condition stands out to me as being extra present in the current crypto craze as we have lots of people who have never invested in anything who are suddenly all-in on cryptocurrencies.