I want to prove the following statement:
Two norms $\| \cdot \|_1$ and $\| \cdot \|_2$ on a linear vector space $X$ are equivalent if and only if every set that is bounded in one of the norms is bounded in the other norm.
(Note that going from equivalent to bounded is straightforward, so I don't need help with that.)
As per my book, two norms are equivalent if there exists $\alpha,\beta > 0$ such that $$ \alpha \| x \|_1 \leq \| x \|_2 \leq \beta \| x \|_1 \hspace{1cm} \forall x \in X $$
Attempt at solution
Proof by contradiction, i.e. for all $\alpha,\beta > 0$, we have the following inequalites $$ \| x_0 \|_2 < \alpha\| x_0 \|_1 $$ or $$ \beta\| x_0 \|_1 < \| x_0 \|_2 $$ for some $x_0$.
I want to use the boundedness assumption here, like, the LHS is bounded by the RHS, thus the RHS is bounded too. But the problem is that this assertion is for $x_0$ specifically, not the entire domain $X$.
Any ideas?