"Prof Goldgar says that while some flowers saw prices as high as 5,000 guilders - the cost of a nice house - these were very rare. 'I found only 37 people who spent more than 400 guilders on flowers at any point at that time.'"

"From a 1623 value of 1,000 guilders, or florins, a single bulb was reportedly sold for 5,500 guilders in 1633 and saw a 10,000 guilder asking price in February 1637, just before the bubble burst and prices cratered more than 90% to a fraction of 1623 prices."

"Prices cratered more than 90% to a fraction of 1623 prices."

"The bubble had burst by the end of 1637. Buyers declared they couldn't pay the previously agreed high prices for bulbs, causing the market to collapse. It wasn’t a devastating occurrence for the nation’s economy, but it did undermine social expectations."

"The author said that those defaults caused a certain level of “cultural shock” in an economy based on trade and extensive credit relationships."

"Bitcoin has gradually separated itself from the tulip frenzy. As an electronic payment system and investment instrument, it has integrated itself into the modern financial system, unlike the tulip mania, a strictly speculative bubble with limited utility."