According to the analytical firm Messari, the Bitcoin rate picked up faster after the last bear market than the Amazon share price after the Dot-com bubble burst.
The Messari company analyzes market data. Now she took a closer look at the Bitcoin course and compared it with historical data about Amazon’s valuation.
“The latest $ BTC cycle reflects [course] $ AMZN at the online bubble, but the recovery was much faster. Even after the recent sale, Bitcoin dropped by 54% compared to its highest level, while Amazon fell by 85% in a similar period. “
– we read on the Ceteris Paribus profile on Twitter .
Ceteris Paribus himself added in another tweet that Bitcoin is “much more advanced than most people imagined in December 2018”.
This is confirmed by Adam Back from Blockstream:
“Bitcoin is much faster than expected [in the sense of maintaining the exchange rate – note. bitcoin.pl]. In the early era of dotcoms, there was a saying about “internet time” and [now we can talk about] bitcoin time (…) [which happens] even faster. “
Dot-comy and cryptocurrencies
This is not the first comparison of what we see in the Bitcoin and cryptocurrency graphs to the dot-com period – popular Internet companies from the turn of the century. Recently, trader Peter Brandt used a similar analogy. In his opinion, however – just as two decades ago, discounted IT companies were falling down – now such a plague will fall on the altcoins. In his opinion, the next wave of increases will belong only to BTC.
Bitcoin course according to Messari
At the end of June, in an email to Bloomberg, Qiao Wang, Messari Product Director, said that “the market is now much more rational.” He also added that today also macroeconomic factors and geopolitical problems speak for growth, not mere speculation. In his opinion, the devaluation of the Chinese yuan and possible dollar problems may affect the BTC exchange rate.
“Bitcoin is a digital gold and [at the same] protection against inflation economic crises. If investors believe in this thesis, they should slowly collect Bitcoins and keep them for many years. They should not enter, enter or trade [too] often “
Wang is suggesting.
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