Many criticists compare Bitcoin to the dot-com bubble. At first thought this does seem to be a reasonable thing to do. However, what people do not keep in mind is the speed of Bitcoin compared to dot-com companies. As we know the dot-com bubble was mainly caused due to the FOMO effect of ‘amateurs’ which led the large sell-offs as a result of panic. After is high in March 2000 it took approximately 915 days before the lowest point and the turnaround to prior highs was reached. Another important thing to keep in mind is that it took 245 days for it to reach the 50% correction level. The same correction for Bitcoin has occurred within 5 days after it’s high on December 17th.
Maybe we have to conclude that the Bitcoin bubble indeed popped, but is already started his recovery.
Nasdaq bubble in the monthly chart
Bitcoin daily chart
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