Real Estate Investor Magazine South Africa Real Estate Investor Magazine - October 2017 | Page 55

CURRENCY
UNDOUBTEDLY. ALL THE SIGNS OF A MANIA
ARE PRESENT
The meteoric rise in Bitcoin’s price, especially in
the past couple of months.
Firstly, Bitcoin, and other value-based cryptocurrencies like
Ethereum are here to stay, as much as governments are trying
their best to counter them, because they offered a non-regu-
lated international medium of exchange and a private portable
store of value (a Swiss bank account in your pocket).
But, more than that, Blockchain (the game-changing tech-
nology that Bitcoin and other cryptos are built on) is likely to
revolutionize the world as we know it – just as the internet did.
And those that see the opportunities to harness its power to
offer something of real value will not only survive, but thrive.
And lastly, why do financial market bub-
bles burst?
As humans, our decisions are emotionally driven, and we ratio-
nalize these with logic thereafter. These combined emotions
of the masses drive the market from one extreme (of greed and
complacency) to the other (of fear and despair).
When a market reaches a mania stage, our emotions are
taken up with what everyone else is doing (our only logic is
that there is safety in the crowd, right?) and we don’t want to
miss the opportunity everyone is talking about, so we follow
the herd.
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