Tulip mania

Tulip Mania was a period in the Dutch 17th century when the prices of tulip bulbs surged dramatically, fueled by speculation and demand. People bought bulbs expecting prices to keep rising, often paying sums that exceeded the value of homes or businesses. At the peak, certain rare tulip bulbs sold for exorbitant prices. Eventually, confidence waned, and prices plummeted, causing many investors to lose significant wealth. It is often cited as one of the first known financial bubbles, illustrating how market enthusiasm and speculation can lead to rapid price extremes and subsequent crashes.