What is Tulip Mania?
Tulip Mania is the first recorded speculative bubble in the history When tulip price reached extraoridinarily high and then collapsed. Now whenever we talk about large economic bubble, we refer to the old age Tulip Mania. Recently, Some experts compare Cryptocurrency enthusiasm with Tulip Mania.
Tulip Mania was the most notorious speculative bubble in history. In the 16th century, tulips were among the most prized flowers and status symbols in the Ottoman Empire. Tulip Mania was a period in the Dutch Golden Age where a single Tulip considered expansive. In the Dutch Golden age everyone in the country seemed to be talking about tulips due to its speculative huge profitability.
Bubble Burst
Everyone thinks that Tulip is most profitable and its prices increases day by day in 1637. At that time Tulip was so expansive, It is possible to live a entire dutch family for half a lifetime. Every bubble followed a tragic crash. Tulip mania followed all the steps of Bubble. When people realized they are spending more money on a thing from its original value, Everybody starts to sell and ultimately inevitable tragic crash of Tulip Mania.
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