Yes, we're in a cryptocurrency bubble. Now what?
We keep hearing everyone say it (Bitcoin is in a bubble!) and honestly, they're right. However, that doesn't mean much when you think more along the lines of long term rather than short term. Human nature constantly repeats itsself and i do not think that Cryptocurrency is exempt to this feature. Don't believe me? Take a look at these charts below.
Amazon during the "Dot com bubble"
Apple during the "Dot com bubble"
Nasdaq during the "Dot com bubble"
Last but not least, Bitcoin in it's current state;
Do you see the same similarities between all of these? I surely do. All of these can be explained by the following "bubble" chart.
So what does this mean, Dr. Hodler?
Well, it's not all bad at the end of the day. If memory serves me right, you'll also notice that some companies that stuck around and now worth a fortune (Amazon, Apple, etc.). People are too caught up in the "Get rich overnight" idea of crypto and are simply throwing money at a wall and hoping that things stick. In order for people to survive this "Bubble", crash or whatever you want to call it is by making SOUND INVESTMENTS. Research the companies, technologies and developers prior to putting money into anything. Invest and then FORGET that you invested in it. The world is not as involved in crypto as you are, YET. We're still extremely early adapters in this space. You're not going to get into crypto and become a millionaire by throwing shit at the wall and hoping that it sticks. Contrary to popular belief, this isn't "magic internet money". The charts on coinmarketcap will look extremely different come 5 years. Companies will zero out on the charts, money will be lost and people will lose it all (if they're not careful). FUD hits this market extremely hard and emotions control everything here. The best advice i can give is to DYOR on everything! Stay away from these "lending" platforms like BitConnect, ThornCoin etc. Invest in the technology, not the chance of a moonshot and you'll be fine.
So what's the outcome? Are we doomed?
Take a look at those same companies after the "dot com bubble" and let me know what you think in the comments.
Apple after:
Amazon after:
Nasdaq after:
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BTC Wallet - 1Ex5jffHYkUZWctp6KTgx6v4GZN47d9EtJ
ETH Wallet - 0x766f90617b12028275ca8fcf365452eff9a8bb06
LTC Wallet - LVs77bYonEErnetKkCSJBwLmrzdb3ztfMa
Thanks, very good post !!!!
Awesome Work!
Keep it up!!!
@cryptoinvestinfo
Thank you for the vote & resteem! I greatly appreciate it.
Great charts. The dot com bubble is nothing more than a blip for the tech winners.
Notice the timeline for the stock price are in years and the timeline for Bitcoin is in months. Everything moves so quickly in the crypto market.
Looking at the bubble chart it seems like the market might have further to fall. We've seen fear in the market, but we haven't gotten to the despair stage, and the recent recovery has run out of steam already. Hold onto your knickers, the worst might be yet to come.
Exactly! A bubble isn't the end for the good technology. It just cleans up the market of all of these shitcoins and honestly i think this is needed in crypto. Thank you for the upvote, i've followed you.
Top notch post. Great perspective.
I'm expecting $5750 as low. Have been posting this since we left $18K
I'll be buying altcoins when BTC bounces off this point, but no sense in catching a falling knife.
That's the only downfall with all of this; altcoins are bleeding out due to BTC.
That's is exactly right!
Hey, you might want to check out the contest in my blog -- I think it's the 3rd post down.
HODL!!!. the stock market is crashing wounder how the crypto market will react hmmmmmm
it's all about individual projects and their utility in the long term. short term is all about speculation. similar to the dot com bubble, 90% of the coins will be worth nothing and the other 10% will be worth quite a lot. do your due diligence, follow your got and invest in the projects you believe in.
nice post @eight5nine!