This?
Or this?
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Neither, @suprepachyderm. The environment, conditions, times… everything is different and incomparable.
The second scenario is constructed on a pure graph similarity, while everything else is different. Dotcom bubble time frame graph goes more than four years wide, and bitcoin (which is not a bubble) just goes a few months.
You are seeing a repeating pattern — two steps forward, one backward. Bitcoin will grow that way as long as fiat toilet currencies exist and as long it's value is denominated in dollar scam. After the fiat era there will be a correction, but compared to precious metals and other cryptocurrencies.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agreed. I do find it worth noting that bitcoin is traded 24/7 globally and the dotcom bubble occurred under regular market conditions. The amount of time it takes for markets to play out in btc could be up to 4x faster. Not sure if that works out mathematically with the charts though. Would be interesting to try and calculate.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very much look a likes! Maybe this is far from the truth or maybe not so far from the truth. Maybe something moving from their own little island hitting main stream news, gets hyped so much and with that also stock/coin prices, after which it needs to fall down again in values to levels that are more in line with the real opportunity, rather than the future, more the now. After the realism kicked in, and the gold diggers who dont understand the art of trading and investing are gone from the market, with a more realistic for the future, the segment can start its build up in value, but more in line with realities rather than just dreaming (common practise in bubbles), therefore a (much) slower increase in value. Maybe for crypto it is time to fall back to realism, and then start its next phase to build upon realities rather than dreams, and therefore the graphs for crypto may look quite similar to the technology stocks in the 90s/2000s. Not sure if it needs to fall back as low as you show in the NASDAQ chart though, maybe the bottom is a bit higher, but the slope up in the future may be quite similar to the NASDAQ graph.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agreed.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think the second scenario is more likely! Crypto is too much of a revolutionary technology to go to zero! Plus I really hope it does not go to zero! Great comparison!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I would say the first picture would be more accurate to me than the others.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit