RATE Group | Has The Cryptocurrency Crash Dragged Down Global Markets In 2018? – Bitcoin USD (Cryptoc…
39716
wp-singular,post-template-default,single,single-post,postid-39716,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Has The Cryptocurrency Crash Dragged Down Global Markets In 2018? – Bitcoin USD (Cryptoc…

23 Aug Has The Cryptocurrency Crash Dragged Down Global Markets In 2018? – Bitcoin USD (Cryptoc…

Posted at 04:10h in Cryptocurrency News by

[ad_1]

In my recent article, “Was January 2018 The Global Stock Market Top?”, I raised the idea that the cryptocurrency bubble in 2017-2018 may have played a role in global markets similar to the role of the dot-com bubble in 1999-2000.

I pointed to the true euphoria about bitcoin (BTC-USD) (OTCQX:GBTC) (OTCQB:BTCS) and other cryptocurrencies at the end of 2017 and January 2018. Investors, traders, and even the general public made an end run around the lack of a bitcoin ETF, and simply downloaded crypto buying and trading apps on their smartphones en masse. At the peak, incredibly, such apps made up a majority of the top 10 most downloaded smartphone apps.

As I wrote:

Rather than another tech stock bubble, or another real estate bubble, this time the bubble came in something brand new. The fact that it didn’t show up on the official stock market at all, made it that much harder to connect all the dots.

In this article I want to expand on this analysis, and make a more detailed argument…

[ad_2]

Source link