Only lazy did not do it
Many who have already compared the dot-com bubble with the situation that develops in the crypto-currency market and in particular with Bitcoin. Basically, the decrease in BTCUSD is compared with the beginning of 2018 with the collapse of the NASDAQ index in 2000. It is not entirely correct to compare graphs to a straight line since there is a significant difference between market volumes and the development of technologies in general, which are used for trading in these markets. Exchange activity during the boom of technology companies, as well as the idea of Internet trading, as just beginning to develop. Therefore, we see that the price actions are slower and less in percentage terms compared to price fluctuations in the market of crypto-currencies.
It is worthwhile to compare fundamentally the situation with dotcoms and the market of crypto-currencies and to pay attention to the stage at which the blockchain sphere and Bitcoin are currently located. The bubble of dotcoms was formed as a result of the emergence of a large number of new Internet companies (GOOG, YHOO) and companies that began to rapidly reorient old business ideas on the Internet (AMZN, EBAY).
In the field of crypto-currency, the same situation occurs: many new companies come to the market with their projects and receive funds for development by conducting initial coin offering and pass the listing procedures for exchanges(CREDITS), and existing and functioning companies start using blocking technologies as in separate projects(IBM), and completely reoriented, and give the leading role to crypto-currencies in the company's further strategy (KODK, RIOT).
According to technical analysis, if we consider further price movement after the collapse of the dotcom bubble, we can see a long and stable upward trend, if we do not take into account the 2008 US mortgage crisis. Now the price of BTCUSD repeats the same pattern of motion, so there is a high probability that the downtrend will be broken, and an upward trend will begin that will be much faster and more volatile compared to the price movement for technology companies in the US stock market.
It is worthwhile to compare fundamentally the situation with dotcoms and the market of crypto-currencies and to pay attention to the stage at which the blockchain sphere and Bitcoin are currently located. The bubble of dotcoms was formed as a result of the emergence of a large number of new Internet companies (GOOG, YHOO) and companies that began to rapidly reorient old business ideas on the Internet (AMZN, EBAY).
In the field of crypto-currency, the same situation occurs: many new companies come to the market with their projects and receive funds for development by conducting initial coin offering and pass the listing procedures for exchanges(CREDITS), and existing and functioning companies start using blocking technologies as in separate projects(IBM), and completely reoriented, and give the leading role to crypto-currencies in the company's further strategy (KODK, RIOT).
According to technical analysis, if we consider further price movement after the collapse of the dotcom bubble, we can see a long and stable upward trend, if we do not take into account the 2008 US mortgage crisis. Now the price of BTCUSD repeats the same pattern of motion, so there is a high probability that the downtrend will be broken, and an upward trend will begin that will be much faster and more volatile compared to the price movement for technology companies in the US stock market.
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