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CryptoTrendy @CryptoTrendy
, 7 tweets, 4 min read Read on Twitter
1/ #BITCOIN ON THE SAME ROAD AS THE #DOTCOM BUBBLE ? If you look at #Nasdaq's price, you're able to find similar patterns. Internet began in 1990 but the Internet bubble really started in 1995. Similarly, $BTC was created in 2009 but price acceleration occurred in 2016
2/ At the end of the Awareness Phase, both had events that will allow global adoption : Google and WiFi for the Internet, #LightningNetwork for #Bitcoin. These events may be considered as the catalysts pushing #Nasdaq & $BTC into Mania Phase
3/ They both ended the Awareness Phase with the classic sell off b4 the Mania Phase, holding the logarithmic support. Finally, #Nasdaq almost x4 in only 1yr 1/2. #Bitcoin seems to go twice as fast as the Dotcom Bubble so we can expect the Mania Phase to take place in 2018
4/ The Dotcom bubble popped in March 2000 reaching 6.7 trillion $, around 11 times the US monetary in that time ($ 600Bn). If we were to follow Internet bubble's path, we could reach between $ 400k and $ 2.5Mn depending on the potential market cap we will be facing (see chart)
5/ This scenario will be valid if we don't face a bull trap around $12k. Or we complete a full market cycle (78.6%/88.6% retracement) or we follow the S-curve adoption model which could bring us to these targets. These figures seem completely unreachable, but so were they in 1998
Add-on 1 : many people told me that I shouldn't compare #Dotcom vs $BTC, but I'd rather compare it to the whole $crypto space. I hear that argument since #Bitcoin is part of an ecosystem even though both charts really look similar. Results don't change much since...
Add-on 2 : Bitcoin weighs a big part in the cryptocurrency market. Let's say that $BTC dominance stays around 30% when bubble reaches its peak, we would still have a $150 k-$ 700k #Bitcoin. Which is absolutely insane as well.
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