Why Tulip Mania is the wrong comparison to crypto

The nature of the crypto-market is often compared to the course of the Tulip Mania during the Dutch Golden Age. However, there are some fundamental differences that invalidate this comparison.
Tulip Mania was a speculative price bubble in the Netherlands during the 1600’s. People flocked to buy futures contracts for tulips, sometimes even trading tulip bulbs up to 10x per day.Source: Sukant Khurana
Merchants from all around Europe flocked to buy up tulips. Prices skyrocketed in a