I do not like calling anything a bubble if it's true value cannot really be ascertained. But for lack of a better term most people refer to the price surge in the value of bitcoin as a bubble. While most economists and financial expert agree that bitcoin is a bubble, it will be quite ridiculous to assume that bitcoin should trade at zero since it has infact been used as a form of payment for transactions. The value of the cryptocurrency must then be measured against the relative cost of purchasing such a product or service in dollar terms or any other fiat currency. This concept of currency valuation is known as purchasing power parity. While to most monetary economists, it is no news to hear that all fiat currency or paper money is a bubble (since the paper in itself is worth nothing), in truth all commodities, products and services are all either in a positive or negative bubble since their intrinsic value cannot be ascertained easily or universally accepted. The only reas