[tjtang]

The similarity is GREED.

People invest in a bubble, despite knowing it is a bubble, because they want to make money. And they are willing to take the risk to do so. Why not, when you can invest a small amount of your net worth and make 2-10x returns in a matter of months? The only problem is nobody knows when the bubble will burst.

Bitcoin like Boo.com, Pets.com, WebVan, etc. were first movers, had good branding and promised disruptive models. These all have value, but were overvalued because the main motivation was to make money. Just like how the main reason to buy Bitcoin now is to make money.