"I can calculate the movement of stars, but not the madness of men,"

- Newton after he lost everything investing in the south sea bubble for a second time, just before it popped.

This has gained mainstream attention and no-one knows what they’re investing in any more, there is no there there to justify the price. Consider the trajectory of chain - a bitcoin startup that has gone from being about bitcoin to about block chains to about distributed ledgers to being about distributed applications (note these last things don’t care what they’re denominated in).

A founder wrote one of the best write ups of this space I’ve seen, and even he is pretty skeptical:

https://blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80

All it needs now is for ordinary people to get nervous and start trying to realise their gains all at once for prices to plummet once again.