Hi all,
Presently we can see amazing price spikes of various cryptocurrencies. Bitcoin is around 2200 mark, Ethereum around 180 mark. But how long this impressive upward move will last? I just remembered year 2000 when Nasdaq Composite index went towards 5000 mark, took it and then...
downside path was in place for several years.
It took years while index managed to return till levels it has been in year 2000.
I see a lot of similarities in tech index rising in year 2000 and crypto rising nowadays. Of course there are different times, different information technologies level but nevertheless...
Is such upward move substantiated enough? I don't know answer. But just look at Bitcoin price action - could you see similarities with Nasdaq Composite movement till year 2000? (just Bitcoin price action is on higher speed as everything nowadays is on higher speed)
So lets see how things will develop further...
Best regards,
rokasltu
I think cryptocurrencies are our future
When you say 'everything nowadays is on higher speed' - are you referring to the fact that BITCOIN can be traded 7 days a week (24/7)??
I do feel that next yr will be a good one for bitcoin. And Ethereum certainly has its uses - lots of Silicon Valley firms (and other high tech companies ) will appreciate the software value of Ethereum
Actually I have in mind that price changes more quickly and partially it is due to 24x7 trading possibility