Obviously, because it has happened multiple times already. Bank runs destroy banks but bitcoin keeps on existing even if its value drops dramatically. So there's a difference. Also, you might have a hard time selling your bitcoin when the bubble bursts. Or rather, the people buying it will be those that believe it will recover, which it has done on all previous occasions. This is why it keeps recovering.
Ultimately the value of any currency is tied to the volume of the economic transactions conducted with it. This is not zero in bitcoin and other crypto currencies. Rather it is growing quite rapidly and projected to continue to grow. The more transactions are happening, the more valuable the currency.
You might ask the same questions about some real world currencies like the pound, euro, or dollar. The US government just announced it is going to print a trillion dollars (deficits == borrowing == printing money). That's one thing you can't do with bitcoin.
For the record, I don't own any bitcoin.
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Obviously, because it has happened multiple times already. Bank runs destroy banks but bitcoin keeps on existing even if its value drops dramatically. So there's a difference. Also, you might have a hard time selling your bitcoin when the bubble bursts. Or rather, the people buying it will be those that believe it will recover, which it has done on all previous occasions. This is why it keeps recovering.
Ultimately the value of any currency is tied to the volume of the economic transactions conducted with it. This is not zero in bitcoin and other crypto currencies. Rather it is growing quite rapidly and projected to continue to grow. The more transactions are happening, the more valuable the currency.
You might ask the same questions about some real world currencies like the pound, euro, or dollar. The US government just announced it is going to print a trillion dollars (deficits == borrowing == printing money). That's one thing you can't do with bitcoin.
For the record, I don't own any bitcoin.