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Bitcoin path looks similar to that of NASDAQ during the dotcom bubble era

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Unlike many other things that enter the stage with a bang only to disappear, blockchain is here to stay. Opposite to when it first appeared with Bitcoin a decade ago, currently, it seems like blockchain is the next big thing that will shape the manner money is spent.

Sometimes it makes sense for investors to use the past information to help stay in the game a bit longer. Therefore, today in this post, we are going to look at similarities between the dotcom bubble since 1973 and Bitcoin since 2011.

Will Bitcoin cross its all-time high ever again?

According to the quarterly charts, the Bitcoin price trend mirrors that of the NASDAQ index of the 1990s, but there is a catch. The manner in which NASDAQ traded in 2000 is similar to a one-year performance for Bitcoin over NASDAQ’s 14 years, with the difference being that bitcoin is fourteen times faster than how NASDAQ did it.

Reason being, today’s technology is much far ahead as the information travels faster with the diverse social media platforms and the high-speed internet connections. One thing that makes all financial bubbles universal is the fact that human fear and greed never changes.

For that reason, NASDAQ took long enough to rise 1,700% to its all-time high while Bitcoin managed a similar return in merely a few months. Similarly, NASDAQ took around 30 months to fall 78%, whereas Bitcoin lost 70% in a month or so.

The point of concern is that it took NASDAQ another 14 years to post its new high in 2016 and 161.8% in 2018 which is after 16 years. The chart shows a similar trend for NASDAQ and Bitcoin which leaves most of us with the question as to whether we’ll have to wait for another 14 years to see bitcoin register its all-time high again.

We more likely will see Bitcoin’s high again sooner than the charts can predict

Time is a factor, and it may stand out to be the difference of not waiting for another 14 years for Bitcoin to hit its all-time high again. Things have changed now, and Bitcoin looks more stable than NASDAQ. Secondly, it’s a matter of time before Bitcoin exchange-traded funds (ETFs) kick off and it will spark Bitcoin’s price increase.

Predictions are good and can come true or don’t even come anywhere near. As an investor, you can ignore the noise and ride out the storm, but one thing to remember is that companies which made NASDAQ eventually they did get out of the business. Therefore, taking it as an example and relating it to the crypto today, some might have emerged and probably others will appear and will be successful as some slowly but steadily will decrease in their value and will become irrelevant.

Picking them out currently is nearly impossible, but the lesson is there to be learned. As for Bitcoin, there is every reason to believe that we won’t have to wait for 14 years for it to hit its high again and surpass the 20k mark. One thing to be optimistic about is that it will rise, but when and how is hard to tell.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

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