Connect with us

Bitcoin

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

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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.

Image courtesy of Flickr

Altcoins

Why BlocPal Is the Easiest Way to Accept Cryptocurrency

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

The face of the retail industry is always changing.

E-commerce is one of the fastest growing trends worldwide, and for good reasons.

It’s convenient, secure, and is effective at connecting merchants with interested shoppers from across the world.

For this reason, it’s no surprise that online shipping is expected to overtake brick-and-mortar stores globally by 2021, making it the world’s largest medium for retail. As the industry changes, it’s important for retailers to keep up with the latest technology so they’re able to accommodate more customers at once. This is where BlocPal comes in.

BlocPal offers business owners an easier way to process payments

BlocPal understands that not every business owner adapts to technology at the same rate. As such, BlocPal has been designed to optimize transactions for both online and brick-and-mortar companies so that every retailer can enjoy the benefits that come with the world’s first true multi-currency payment solution.

With BlocPal, business owners can enjoy the following benefits:

    • The ability to process payments in fiat (USD and CAD) currency as well as Bitcoin, Bitcoin Cash, Bitcoin SV, Litecoin, and Ethereum. Expect more currencies to be added as BlocPal…
Continue Reading

Bitcoin

Bitcoin Grows Beyond $4,000

Published

on

Bitcoin grows beyond $4000
READ LATER - DOWNLOAD THIS POST AS PDF

Bitcoin (BTC) is starting to make waves again, and while they are still small, investors around the world are welcoming the positive development. The number one cryptocurrency has just breached the $4,000 mark, and while this is still five times lower price than it was in early January 2018, it is over $800 higher than in early December 2018.

At the time of writing, Bitcoin price is at $4,048.60, after the coin experienced a 5.53% growth in the last 24 hours. Meanwhile, its market cap sits just above $70.5 billion, while the coin’s daily trading volume is at $5.7 billion.

Bitcoin has had a rough 2018, just like the rest of the crypto market. In fact, the coin is so influential that it usually dictates the market behavior, whether positive or negative. Right now, the rest of the market follows the positive trend, with all of the top 10 cryptocurrencies currently trading in the green, while only a few among the top 100 coins are experiencing minor losses.

The largest gainers among the top 10 cryptos by market cap are Litecoin (LTC) with a 7.64% growth, and Stellar (XLM), which is growing by 7.27%.

Bitcoin’s behavior in the new year has mostly been positive, which is a trend that originally started on December 17th, 2018. After a month and a half of constant losses, which have brought…

Continue Reading

Bitcoin

What Will Happen First: BTC 2k or 5k?

Published

on

BTC
READ LATER - DOWNLOAD THIS POST AS PDF

2018 has ended, and while there was no enormous surge that investors were hoping for, it still ended with a bit of hope for those wishing to see Bitcoin BTC rise.

Only two weeks before the end of 2018, BTC was in a desperate position, with the value of its coin being at $3,200, threating to drop even lower. However, a sudden surge occurred on December 17th, which returned $1,000 to its value. And, since it lost approximately $400 since then, the final days of 2018 have still seen BTC well-above its lowest point of that year.

Now, 2019 has arrived, with traders and investors wondering what will happen next? Is BTC going to drop to $2,000? Will it rise back to $5,000? Will the bear market expand to this year as well, or is the market ready for a proper bull run this time?

The answer, once again, remains uncertain. The problems with scalability may be reduced significantly soon, but high volatility remains an issue. Even the slightest shift can have enormous consequences for the entire market, and any news can impact the BTC price, no matter how big or small, or if positive or negative. To stop its further drop, BTC had to find a balance. However, this balance is more fragile than ever, and the price is expected to move very soon.

What to expect…

Continue Reading

Elite