RE: Bitcoin Falls While Others Soar
It took me a bit, but I think I understand your perspective. The brand popularity is certainly there as is the presence of other currencies. Despite its apparent popularity in trading, the purchasing power is still growing. You can buy things with it, but not as easily as conventional currency. It's in this regard that I feel it's in a bubble. If it can be applied as commonly as a conventional currency, then perhaps the price would be justified. Over time it just might be.
Time will tell how significant Bitcoin's volatility remains. The Federal Reserve in the U.S. seems to have few allowable actions to stabilize the economy. I feel that their available options, coupled with the economic issues brought about by COVID-19 leave a need that Bitcoin addresses.