Cryptocurrency: The Greater Fool's Game?
Former Fed Chair Alan Greenspan Weighs In
Bitcoin's Unsustainable Rise
Former Federal Reserve Chairman Alan Greenspan has weighed in on the cryptocurrency market and its recent surge in value. In an interview with Bloomberg, Greenspan said that he believes Bitcoin prices are unsustainably high and that the market is too dependent on the "greater fool" theory. This theory suggests that investors are willing to buy an asset at an inflated price in the hope that they can sell it to an even greater fool for an even higher price. Greenspan believes that this is not a sustainable model for long-term growth and that the cryptocurrency market is due for a correction.
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