Dogecoin, Safemoon, Polkadot: Is there a meme crypto bubble?
There are so many cryptocurrencies out on the market right now. So is the crypto market heading toward a bubble burst?
What cryptocurrency coins are there?
So we know about the big ones — like Bitcoin and Ethereum. But there’s a list of other alternate coins we’ve been writing about:
And then there are many other alternate coins out there, like these:
All of these alternate cryptocurrencies might be creating a bubble. In fact, InvestorPlace.com suggested that there is a crypto-bubble on the rise as more alternate versions of Bitcoin come to the market. Similar to what Amazon faced with its internet competitors in 1999, major cryptocurrency coins might be heading toward their own bubble.
What will happen to the cryptocurrency bubble?
According to InvestorPlace.com, the ongoing bubble will continue to inflate in the near future. But things might change in the future as competitors flood the market and change the dynamic.
- “In the near term … Bitcoin and its blue-chip altcoin counterparts will continue to see their values inflate,” according to InvestorPlace.com. “Financial institutions seem intent on keeping up with central banks and tech firms in adopting digital currencies.”
- “In the longer term, however, most cryptocurrencies will implode,” according to InvestorPlace.com.
This is mostly because all of the cryptocurrency competitors will disappear. It’s unclear to see, but it is another reminder that these bubbles — like Ty Beanie Babies, Pokemon cards (which have their own comeback, to be fair) and internet websites — come and go. So be cautious with your money.