Tulips are native to Asia Minor. 1593, introduced to the Netherlands. /kloc-In the first half of the 0/7th century, tulips were introduced to Europe for a short time, and the quantity was very limited, so the price was extremely expensive. In France, which advocates glitz and luxury, many dignitaries have tulips at home to show off to outsiders as ornamental and luxury goods. 1608, the French exchanged jewels worth 30,000 francs for a tulip bulb. However, compared with the Netherlands, all this seems insignificant.

When tulips began to spread in Holland, some shrewd speculators began to hoard tulip bulbs in large quantities, waiting for the price to rise. Soon, under the advocacy of public opinion, people showed a morbid worship and enthusiasm for tulips and began to compete to buy tulip bulbs. 1634, the upsurge of buying tulips spread into a national movement in the Netherlands. At that time, a tulip flower root with a price of 1 1,000 yuan rose to 20,000 yuan in less than a month. 1636, a rare tulip actually reached the same level as several horses in a carriage. Faced with such huge profits, all the people lost their heads. They sold their property just to buy a tulip. In this year, in order to facilitate tulip trading, people simply opened a fixed trading market on the Amsterdam Stock Exchange. As a historian at that time described it: "Everyone believes that the tulip craze will last forever, and the rich all over the world will place orders with the Netherlands, and no matter what the price, someone will pay the bill. In such a lucky Netherlands, poverty will never return. Nobles, citizens, farmers, craftsmen, boatmen, attendants, and even chimney sweeps and old women in second-hand clothes shops all joined the tulip speculation. No matter what class you are in, people convert their property into cash and invest it in this flower. " 1637, the price of tulips has risen to an outrageous level. Compared with the previous year, the total increase of tulips was as high as 5900%! 1637 In February, a tulip named "Augustus Forever" sold for as much as 6,700 guilders, enough to buy a mansion near canals of amsterdam. At that time, the average annual income of the Dutch was only 150 Dutch guilders.

Just as people were immersed in the tulip frenzy, a big crash was just around the corner. The public began to panic because sellers suddenly sold a lot, which led to the sudden collapse of the tulip market on February 4. 1637. The price of tulip bulbs plummeted overnight. Although the Dutch government issued an urgent statement saying that the price of tulip bulbs had no reason to fall, it suggested that citizens stop selling and tried to end all contracts at 10% of the contract price, but these efforts were useless. A week later, the price of tulips has dropped by 90% on average, and those common varieties are not even as good as the price of an onion. In desperation, people flocked to the court, hoping to use the power of law to recover losses. However, in April 1637, the Dutch government decided to terminate all contracts and ban speculative tulip trading, thus completely breaking the unprecedented economic bubble in history.