“Irrational exuberance is the psychological basis of a speculative bubble. I define a speculative bubble as a situation in which news of price increases spurs investor enthusiasm, which spreads by psychological contagion from person to person, in the process amplifying stories that might justify the price increases, and bringing in a larger and larger class of investors who, despite doubts about the real value of an investment, are drawn to it partly by envy of others’ successes and partly through a gamblers’ excitement.” - https://en.wikipedia.org/wiki/Irrational_Exuberance_(book)
“And everybody says YATTA!”
That was a detailed comparison. Thanks for putting this up. Never actually bothered to know how poor the dot com bubble burst was. Seems that it was worse than the crypto bubble.
It’s never easy for a new technology to make way into the ones already existing. And once it starts making its way, too much hype is created around it, which leads to the bubble. Same happened with dotcom and crypto.