Cryptocurrency skeptic Peter Schiff has warned that Bitcoin is the "ultimate asset bubble" as the price rises. Bitcoin price was hovering above $61,500 at the time Schiff made his warning. At the time of this writing, four days later, BTC is trading above $65,000. 📈

"When an asset bubble develops, there is usually some underlying value in an overvalued asset. But with#Bitcointhere is no value at all," Schiff said. JP Morgan CEO Jamie Dimon also called Bitcoin a "pet rock." 😱

However, the intrinsic value of Bitcoin has historically experienced market expansion every two or three years, correcting by up to 50% each time. This shows that cryptocurrency is no different than real estate, stocks or gold. These assets also experience large increases and sharp corrections.