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Bubble Encyclopedia

History doesn't repeat itself, but it often rhymes. Study the bubbles of the past to recognize the patterns of the future.

Historical Bubble Timeline

Major market bubbles throughout history. Colors indicate bubble phases: stealth, awareness, mania, blow-off, and crash. Click on any bubble to view its full case study.

Stealth

Awareness

Mania

Blow-off

Crash

199020002010202020302040

2026

Dot-Com Bubble (1995–2000)

Carbon Credit Bubble (Mid-2000s)

Oil Price Bubble (2007–2008)

Dubai Real Estate Bubble (2002–2008)

China Housing Bubble (2010s)

Rare Earths Bubble (2010–2011)

China Stock Market Bubble (2014–2015)

Initial Coin Offering (ICO) Bubble (2017)

Rare Whisky Bubble (2010s–2020s)

NFT Bubble (2020–2021)

Meme Stocks Mania (2021)

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Finance2 bubbles

Meme Stocks Mania (2021)

Early 2021 (peaked January 2021)

China Stock Market Bubble (2014–2015)

Mid-2014 to June 2015

Cryptocurrency1 bubble

NFT Bubble (2020–2021)

2020 to late 2021

Other2 bubbles

Rare Whisky Bubble (2010s–2020s)

2010s growth, peak around 2019–2021, softening by 2023

Initial Coin Offering (ICO) Bubble (2017)

2017 (peak at end of 2017)

Technology2 bubbles

Rare Earths Bubble (2010–2011)

2009 to 2011 (peak in 2011)

Dot-Com Bubble (1995–2000)

Mid-1990s to 2000 (peak March 2000)

Real Estate2 bubbles

China Housing Bubble (2010s)

2000s through 2010s (intensified post-2008, signs of peak by late 2010s)

Dubai Real Estate Bubble (2002–2008)

Early 2000s (peak in 2008)

Commodities2 bubbles

Oil Price Bubble (2007–2008)

Mid-2007 to July 2008

Carbon Credit Bubble (Mid-2000s)

2005–2007 (EU ETS Phase I)

See the Pattern

Bubbles have occurred throughout history with remarkable regularity. Each generation believes it's different, yet the pattern persists.

Learn the Phases