The DotCom Bubble Popped In 5 Years, For Crypto It Only Took 4 Months Fuente- Raiden Jones
I recently came upon this information which seems to make perfect sense to me.
I would like to share it you guys, please tell me if it makes sense, cause for me it does… and is really scary.
Let’s start
Back in late 90s the dot com bubble took about 3 years of really high growth to pop. In an era where everything was trade from 9am to 5pm from Monday to Friday, traded mainly in the United States. An era where internet did not exist to the full potential of the one we have today so it was not as easy to communicate, the technology was not as advance as now a days.
Fast forward to 2017 to 2018. The new era, crypto currency goes to an amazing bull run. Making many millionaires over a 12 month period.
Is this era today we have WAY better technology, way easier way to contact others and share information. The crypto market is also OPEN 24/7, all year around, all over the world. You get the point I’m trying to make here.
Do to the technology being way more advance now a days the bubble for crypto took months to pop where as the dot com bubble took years to pop due to old technology and bad availability.
Please discuss your opinion on this idea in the comments below.
By-@strafalario
While I agree that technology is way better, I’m not sure we saw a true pop. Many altcoins are approaching all-time highs again, and I suspect many of them have not made enough progress to warrant current valuations.
Time will tell.
The "bubble" has popped a couple times: in 2011 when it went from $11 to $50, then in 2013 from $1,000 to $200, then 2018 from $19,000 to $6,000. These are approximate figures and the one before 2013 I'm not sure about.
But the comparison to financial bubbles is all wrong. Those bubbles didn't have a new currency created within them. This idea is mostly promoted by people who hate crypto and want to see it fail, or otherwise just don't get it.
Bitcoin has died at least 250 times. Search for "99bitcoins bitcoin death" there's an entire list of all the times people have made this same claim.