Might the same thing happen to Bitcoin and all other Crypto Currencies, as the Tulips had gone through in the XVII century?
Who is not familiar with the Term of Tulip Mania, here the link to Wikipedia:
https://en.m.wikipedia.org/wiki/Tulip_mania
For understanding what happend to the Tulips and what could happen to Crypto Currencies, we have to understand some things before to make our analysis. Some differences are quite obvious
For the Tulip, you needed farmers, which grew the Tulip, Bitcoin needs miners. To evaluate a price, Tulips as Bitcoins need to have a demand and a supplier base. Also the prices need to be made according to the market demand.
As it is with the price, somebody needs to be willing in the same time to pay the amount of money for a Bitcoin or Tulip. And here the problem starts. Tulips had been valued by there beauty, Bitcoin is valued by the fact that it is sold to be a new kind of currency and the revolutionice the current system. Here some people may argue, that Bitcoin indeed might be the future of the monetary system. However some can not understand this trend and will give no value at all to crypto currencies.
Considering that China had banned Bitcoin transactions numerous times, many countries might follow this and Bitcoin might be banned all arround the globe soon and for good, which will leave all investors whit a currency they can not capitalize anymore. Also you have to note how volatile the marked still is. People are gambling with this currency and many investors will not take the risk to gamble.
This is also something you have to be aware of. Tulips before the prices colapsed, had been used by big investors also for gambling. A investor who looked for something stable, had been fooled to invest in Tulips by receiving false promises. Here again a similarity with Bitcoin.
Some investors offers very good conditions and promises when you are investing in Bitcoin, but to be frank, those promises are not in your intres. This is a sceam for them to get rid of their Coins and get money easy. Again same thing as with Tulips.
As soon as the price for a Bitcoin will pass the amount of 10.000 $ / Bitcoin, Bitcoin will colapse and drag all curencies down with him. As history shows, Tulips had been beatyfull and might had valued some good money for some, at one point, people are not willing to risk their money anymore and to pay a ridiculous amount for something is valuing almost to nothing.