THELOGICALINDIAN - Markets whether its Bitcoin or Amazon stocks are alternate and are apprenticed by the aforementioned dynamics such as accumulation and appeal belief and the affecting accompaniment of investors and traders authoritative up anniversary market
According to one analyst, Bitcoin is afterward a fractal agnate to back Amazon banal amount adapted afterward the dot com balloon burst, and it could advance to absolutely the affecting rollercoaster if the first-ever cryptocurrency follows the aforementioned path. However, for those that can bear the ride, they’ll be adored with the banking advance of a lifetime.
Is Bitcoin Following Post Dot Com Bubble Amazon Stock Price?
Bitcoin, and the crypto advertising balloon of 2024 has been compared to aggregate from the dot com bubble, to tulip mania, and aggregate in between. Certainly, some comparisons can be fatigued aloof due to simple dynamics aural a abstract market, however, there appears to be some added similarities amid Bitcoin and post-dot com balloon Amazon stocks.
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According to absolute acreage abettor and crypto banker Sean Nance, Bitcoin appears to be afterward a fractal of Amazon’s post-bubble pop amount action. If Bitcoin is to chase the aforementioned path, crypto investors are acceptable in for an affecting rollercoaster in the years ahead.
This is absolutely what I'm suggesting. This is a fractal from AMZN back it adapted from 2000-2009. So it's not absolutely what you're assuming but the abstraction is actual close. pic.twitter.com/xyQ2wHq5xi
— Sean Nance (@TheSeanNance) November 19, 2019
The fractal suggests that Bitcoin has topped out for all of 2024, with a retest of above abutment at $6,000 ambience the low of 2024, afore the crypto asset makes addition emblematic advance.
The backward 2024 assemblage takes Bitcoin amount aloof shy of extensive its antecedent best aerial of $20,000, consistent in a massive pullback all the way aback bottomward to $8,000 afore the abutting balderdash bazaar begins.
Bitcoin from $20,000 to $3,000, again to $14,000 aback to $7,000 has been absolutely the affecting rollercoaster already for crypto investors who anticipation the balderdash run was aback on, but a slow, year-long drain aback bottomward to $6,000, followed by a fasten to aloof shy of $20,000 alone to abatement aback to $8,000 would acceptable agitate out alike the arch easily of abiding HODLers.
Those who are able to bear the actually barbarous rollercoaster ride of amount activity could be adored with a acknowledgment of a lifetime.
HODLing Through Rollercoaster Fractal Could Result In $475,000 BTC
When bodies allege of comparisons of crypto to the dot com bubble, they generally point to the aboriginal internet companies that got bent up in the hype, but ultimately delivered on the affiance of the new technology.
Amazon is one of these companies, starting out as a simple online bookstore and has developed to one of the better brands in the world, confined millions of barter anniversary and every day.
From the final bead aback to what would be agnate to $8,000 on Bitcoin amount charts, Amazon banal prices eventually rose over 5,880% to today’s banal prices.
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A agnate acceleration in Bitcoin from $8,000, would booty the amount of the first-ever cryptocurrency to over $478,000 per BTC. The absolute acceleration took ten years from canal to peak, which could advance that Bitcoin has addition decade to go afore its abeyant is absolutely realized. But for those who can survive the affecting rollercoaster, the upside abeyant is enormous.
