Saifedean Ammous, economics professor and author of “The Bitcoin Standard,” says the value of Bitcoin (BTC) has risen more than any other asset in economic history.
In a new tweet, Ammous compares Bitcoin to the emergence of some of the world’s most famous companies, concluding that Bitcoin (BTC) is a totally different beast. His tweet reads:
“Bitcoin is not only incomparable to bubbles, but its fast rise is also incomparable to the most successful companies and innovators. As far as I can tell, nothing has ever risen as fast and as much as Bitcoin has risen.”
According to Ammous, Bitcoin mining difficulty adjustment is the main characteristic that makes Bitcoin stand out from the crowd. Even so, the economist warns past performance shouldn’t be used to determine future results. Therefore, we must analyze the data thoroughly using technical indicators and time patterns.
“This isn’t to say Bitcoin is guaranteed to rise. It can fail, or demand could disappear for many reasons. It could crash 90% from here and…