Does Elon Really Have the Power to Pop the Crypto Bubble?

Crypto markets have been on a bit of a roller-coaster ride this month and you could actually say they’ve been on one for the whole year. This often leads to the question: were Crypto currencies in a bubble?

It’s a question you may struggle to find a clear answer to. It’s difficult to assess the situation without some level of bias, since it really rides on what extent you believe Cryptos are the future.

Some people think the peaks are even undervalued compared to what Cryptos are going to be in the future. While others think the revolutionary view of Cryptos is overstated and the rise is too much too soon.

But what actually defines a bubble? According to Investopedia, a market bubble is defined as a “rapid escalation of market value” and is typically driven by “exuberant market behaviour”.

If we look at some Cryptos, such as Bitcoin and Dogecoin, they could have been fairly described as being in a bit of a bubble, particularly Dogecoin.

Let’s say that it was a bubble. With Bitcoin and Dogecoin falling over 50% from the peak, does this mean the bubble has popped and these are now in a bear market?

Typically, a major market such as the S&P500 would be defined as a bear market when the price falls more than 20% from the…