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# Crypto assets are a bubble # Are crypto assets a bubble?
**Crypto assets are a bubble.**
Crypto assets have the characterstic price behaviour that resembles many other [bubbles](../concepts/bubble.md) and [market manias](../concepts/madness-crowds.md) throughout history. Bitcoin has been characterised as a [speculative](../concepts/speculation.md) bubble by eight winners of the Nobel Prize in economics. Crypto assets have the characterstic price behaviour that resembles many other [bubbles](../concepts/bubble.md) and [market manias](../concepts/madness-crowds.md) throughout history. Bitcoin has been characterised as a [speculative](../concepts/speculation.md) bubble by eight winners of the Nobel Prize in economics.
* Paul Krugman * Paul Krugman