Abstract:

Looking at the historical process, it is seen that many economic bubbles have emerged and they have various common features. During the formation and development process of economic bubbles; economic agents generally do not think that this is a bubble. Whether there is a bubble formation in the cryptocurrency market is a matter of serious debate. The aim of this study; first by examining the economic bubbles in history, to reveal the similar and different aspects of cryptocurrencies with previous economic bubbles; Parallel to this, it is to examine cryptocurrencies in terms of bubble formation with in the framework of the common characteristics of bubbles and investor behaviors. As a result, it has been concluded that cryptocurrencies have similarities with past bubbles in many respects (investorbehavior, stagespassed), however; these assets have important differences such as requiring a serious technological infrastructure, limited supply in some of them, and not knowing their basic values exactly.

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