During this time, tulip bulbs became incredibly valuable, with prices reaching exorbitant levels and people investing large sums of money in the hopes of making a profit.

The tulip craze began when tulip bulbs were introduced to the Netherlands from the Ottoman Empire in the late 16th century. The tulips were exotic and rare, and quickly became popular among the Dutch elite. As demand grew, prices rose, and speculators began buying and selling tulip bulbs, hoping to make a quick profit.

At the height of Tulip Mania, tulip bulbs were selling for many times their weight in gold, and people were buying and selling futures contracts for tulips that had not yet even been harvested. The market was fueled by speculation and greed, as people invested in tulips with the expectation that prices would continue to rise.

However, in February of 1637, the tulip market suddenly crashed. Speculators tried to sell their tulip bulbs for a profit, but demand had dried up, leading to a sharp drop in prices. Many people were left with worthless tulip bulbs and large debts, and the Dutch economy suffered as a result of the bubble's burst.

Tulip Mania is considered one of the first recorded financial bubbles in history and serves as a cautionary tale about the dangers of speculation and irrational exuberance in financial markets. It remains a relevant example of the risks associated with investing in speculative assets, and the importance of considering both market fundamentals and human behaviour when making investment decisions.