New Enroll for RBI, SEBI & NABARD Intro Class! April 18 at 9:15 PM

    Question

    In the following question a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five choices given to make the passage complete and coherent (Coherent means logically complete and sound)

    Bitcoin itself may, of course, be a speculative bubble;

    its price is up more than 750% in the past year, and such moves should give anyone pause. That is not the same as it being a “fraud.” In fact, the way that the guardians of the financial world are dismissing these phenomena says more about them than it does about Bitcoin, and what it says isn’t pretty. Rather than grappling with the ways in which the software and information-technology revolutions have yet to deeply disrupt finance, the defenders of the status quo are seizing upon the price action of Bitcoin as proof that it is all a fever and a mirage. Even if Bitcoin is in a price bubble, that doesn’t make it a tulip._____________________.
    A The same is true for other new and untested digital currencies. Correct Answer Incorrect Answer
    B The problem with this theory is that the world never changes that much. Correct Answer Incorrect Answer
    C A constant theme of bubbles is the ability of speculators to shout that dreaded cry ‘this time it's different’. Correct Answer Incorrect Answer
    D The price of Bitcoin has been on tear for months, and the pace of gains has accelerated in the past weeks, reaching $6,000 recently. Correct Answer Incorrect Answer
    E The gaining momentum of digital currencies is a potent sign that Western financial architecture of the 20th century may not long survive the 21st. Correct Answer Incorrect Answer

    Solution

    Bitcoin itself may, of course, be a speculative bubble; its price is up more than 750% in the past year, and such moves should give anyone pause. That is not the same as it being a “fraud.” In fact, the way that the guardians of the financial world are dismissing these phenomena says more about them than it does about Bitcoin, and what it says isn’t pretty. Rather than grappling with the ways in which the software and information-technology revolutions have yet to deeply disrupt finance, the defenders of the status quo are seizing upon the price action of Bitcoin as proof that it is all a fever and a mirage. Even if Bitcoin is in a price bubble, that doesn’t make it a tulip. The same is true for other new and untested digital currencies.

    Practice Next

    Relevant for Exams: