On Beijing time January 17th, Bloomberg reported that recent Bitcoin price swings have stirred a renewed sense of urgency among market observers, bringing back a concern that has lingered for most of the past year: is Bitcoin just another bubble, like the tulip mania or the dot-com crash?
The previous surge and subsequent drop (Bitcoin fell 48% from its December 18 peak) have given investors valid reasons to be cautious.
Over the past three years, Bitcoin has surged nearly 60 times, an extraordinary rise that has left many in awe.
This rapid growth has even outpaced the Nasdaq's gains during the 1990s tech boom. Looking further back in history, Bitcoin’s climb surpasses the Mississippi and South Sea bubbles of the 18th century, and even dwarfs the Dutch tulip mania of the 1630s. While tulips were once considered scarce and valuable, Bitcoin’s meteoric rise has drawn comparisons, though the chart only shows one type of tulip and no data after its peak.
Supporters argue that Bitcoin’s journey is far from over. They emphasize that market analysis isn’t just about tracking price movements. Despite recent drops that have alarmed some investors, Bitcoin has repeatedly bounced back from more than 50% declines. If Bitcoin truly becomes a digital form of gold, as Cameron Winklevoss predicts, it could still have significant upside potential.
Reports show that hedge funds driving the crypto boom achieved returns exceeding 1,000% last year. When looking at Bitcoin’s three-year performance, it has grown more slowly than some of the largest historical bubbles, including the Mississippi and South Sea bubbles.
However, many remain skeptical. Howard Ang from Convoy Investments LLC and Jeremy Grantham from GMO LLC have analyzed Bitcoin’s rise in comparison to past speculative bubbles and believe it is unsustainable. In a letter to investors on January 3, Grantham expressed his concerns:
“There is no clear intrinsic value, the market remains largely unregulated, and the narrative surrounding Bitcoin is exaggerated—this is the classic recipe for a bubble, as seen throughout history.†Grantham, the Chief Investment Strategist at GMO, oversees around $74 billion in assets.
His track record when it comes to warning about bubbles is mixed. Although he correctly identified the dot-com bubble in the 1990s, he exited too early and missed out on some of the biggest gains.
Only time will tell whether Grantham and other skeptics are right about Bitcoin, or if it's simply too soon to judge. But with each new high and low, the debate over whether Bitcoin is a revolutionary asset or a modern-day bubble continues to grow.
FUNCTION DESCRIPTION
Countdown socket has an AC outlet, the maximum can output 230 V16A of power, there are two control modes, that is, countdown off and countdown on. It is convenient to control the equipment which needs to switch off or turn on AC. improve the safety of the use of some equipment and save more energy.
SET TIMER
1,Countdown plug in the socket, all indicator lights red flash three times, at this time the socket has no output, for the normal state, into the countdown state. Click the button, the first red light up, the socket output after an hour off, and then short press the button can set the socket timing of 2 H.4H.6H.8H.10H.OFF.
2,Long press button 3s, all indicator lights green flash three times, at this time the socket has output, for the regular open state, into the countdown on state. Click on the button, the first green light on, the socket is closed an hour later, and then press the button to set the socket countdown 2 H.4H.6H.8H.10H.OFF.
3,Press button 3 longer S, all indicator lights red light flash 3 times again into countdown mode.
4,Select the required countdown time mode, the corresponding mode countdown lights up, start countdown until the end of the countdown time. The outlet that controls the output will start or stop the output.
5,After the countdown starts, the time indicator will change automatically from high to low until the countdown is over.
NOTE:
1,Check that the power connection is good.
2,Use only indoors and in dry places.
3,This product does not convert AC voltage.
4,Maximum load not exceeding 16A 3680W.
5,Grounding is required for safety.
6,Any questions, please contact the electrician.
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NINGBO COWELL ELECTRONICS & TECHNOLOGY CO., LTD , https://www.cowellsockets.com