Book by Charles Mackay
https://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds
Quote
Extraordinary Popular Delusions and the Madness of Crowds is an early study of crowd psychology by Scottish journalist Charles Mackay, first published in 1841.[1] The book chronicles its subjects in three parts: "National Delusions", "Peculiar Follies", and "Philosophical Delusions". MacKay was an accomplished teller of stories, though he wrote in a journalistic and somewhat sensational style.
Charles Mackay has a chapter on the economics of "Tulip mania" of the early seventeenth century, which should (IMO) be required reading for students all over the world.
Please Note: The subject is related to Economics and I am not suggesting anything obvious about the condition of the Bitcoin markets.* Learning about history can add value to your life in many ways.
Interesting FYI:
Two modern researchers, Peter Garber and Anne Goldgar, independently conclude that Mackay greatly exaggerated the scale and effects of the Tulip bubble,[7] and Mike Dash, in his modern popular history of the alleged bubble, notes that he believes the importance and extent of the tulip mania were overstated.[8]
*So the Bitcoin Bubble makes "Tulip mania" look insignificant?
