RATE Group | Bitcoin’s ‘Bubble’ Cycle More Bullish Than Amazon’s Dot-Com Era Days
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Bitcoin’s ‘Bubble’ Cycle More Bullish Than Amazon’s Dot-Com Era Days

18 Jul Bitcoin’s ‘Bubble’ Cycle More Bullish Than Amazon’s Dot-Com Era Days

Posted at 11:40h in Bitcoin News by

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Bitcoin (BTC) recovered more swiftly from its bear cycles than Amazon did during the boom and bust of the dot com era, data from crypto analytics firm Messari reveals.

Bitcoin’s 2019 breakout ‘extremely bullish’ by comparison

Fellow industry analytics firm Ceteris Paribus shared Messari’s findings in a tweet on July 17:

“The latest $BTC cycle mirrors $AMZN during the dot-com bubble, but the recovery has been much more swift. Even with the recent sell off, bitcoin is 54% down from its high, vs. the 85% Amazon was trading at over a similar timeframe.”

Bitcoin and Amazon ‘bubbles’ comparison, 2015-2019

Bitcoin and Amazon ‘bubbles’ comparison, 2015-2019. Courtesy of Messari via @ceterispar1bus

In a further tweet, Ceteris Paribus argues that while the two assets are markedly different, they have both allegedly “traded on pure speculation” at different points in their histories. 

A comparison of the two reveals that Bitcoin’s breakout following crypto winter has been “extremely bullish” as compared with Amazon’s…

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