Yeah, the volumes are huge at tops due to the increase in newer traders and vast speculation going on.
Yep, there were massive crashes after those tops/bubbles. By the way, the 1987 bubble was partially fueled by the dollar rallying too far, too fast. We saw the dollar relentlessly higher for years and now it’s likely topped out. But it could be one of the factors in this crash. The speculation and over-bullishness really reminds me of how the environment was in the crash of 2000. It was all “this time it’s different”…we’re in a “new economy”, etc. But every asset class can outrun the most optimistic possibilities for what it’s able to do/justify. Eventually, the prices come crashing down. No one ever knows what day that will be (including me). But, it happens. The risks are insane and they have no idea, the risks they’re taking on. They’re too caught up in being so elated…that they’ll be caught off-guard when it crashes. It will destroy a ton of wealth of a ton of greedy, unwise people. It always happens. It’s unfortunate. But over long periods of time, money always transfers from the unwise to the wise stewards. That’ll always be that way.