Agree. For one, BTC's decentralized nature makes the ponzi scheme highly resilient and scalable. On top of that, the coolness factor is undeniable.
As the Yale economist Robert J. Shiller puts it "You’re fast. You’re smart. You’ve figured out nobody else understands. You’re with it. And bitcoin has this anti-government, anti-regulation feel. It’s such a wonderful story. If it were only true."[1]
Therefore the bubble will most likely stretch a lot bigger (the current market cap of total crypto is 1-1.5% of US equity) before people get scared. But when they do, the fear will indeed be fueled by negative media coverage which might make the crash swift and brutal.
As the Yale economist Robert J. Shiller puts it "You’re fast. You’re smart. You’ve figured out nobody else understands. You’re with it. And bitcoin has this anti-government, anti-regulation feel. It’s such a wonderful story. If it were only true."[1]
Therefore the bubble will most likely stretch a lot bigger (the current market cap of total crypto is 1-1.5% of US equity) before people get scared. But when they do, the fear will indeed be fueled by negative media coverage which might make the crash swift and brutal.
[1]https://www.bloomberg.com/news/articles/2017-11-30/so-it-loo...