In the span of just a few months in 2000 the internet bubble burst and 280 companies lost 1.7 trillion USD in value. That is 13 times more than the entire market cap of Bitcoin (!). 13 times all of bitcoin in the world lost for comparison.
Almost a third of them lost more than 90% of their valuation. That means Bitcoin can easily go from 7700 USD now to 770 USD very quickly.
It is only now in 2017 - 17 years later - that the NASDAQ has regained what was lost in year 2000.
For all you bitcoin investors - would you be happy with seeing 90% of your value lost now, and then have to wait 17 years just to get back to where you are now?
Or is it time to cash in before it is too late?
http://money.cnn.com/2000/11/09/technology/overview/
Almost a third of them lost more than 90% of their valuation. That means Bitcoin can easily go from 7700 USD now to 770 USD very quickly.
It is only now in 2017 - 17 years later - that the NASDAQ has regained what was lost in year 2000.
For all you bitcoin investors - would you be happy with seeing 90% of your value lost now, and then have to wait 17 years just to get back to where you are now?
Or is it time to cash in before it is too late?
http://money.cnn.com/2000/11/09/technology/overview/
Well, as I explained in another post: https://bitcointalksearch.org/topic/m.24717584
It is better to tell the whole story:
Nasdaq bubble popped because people were investing a too much too early, they were anticipating future returns but nowadays Nasdaq has surpassed by far the ath when the bubble popped. It took 15 years to get to the same level, not 17. In 17 it has gone up significantly higher.
Drawing a comparison to ask whether you should be willing to wait 17 years (actually 15) or if you should cash out is drawing a bad comparison in my opinion: Nasdaq is not similar to bitcoin, it is more similar to the whole crypto coin market, if you want to establish the comparison.
Many companies formed Nasdaq, some disappeared, and some new ones appeared after. I think something similar may happen with the crypto world, most of alts we see nowadays will disappear and some new ones may appear.
The problem is we don’t know when. Just because that happened with Nasdaq, doesn’t, at all, mean that it is going to happen with the crypto world soon.
Have you seen World’s stock market cap? It looks much more clearly like a bubble than the bitcoin one.
So, it is good to be aware that we can have downtrends in the market and bear market for years, but not based on comparisons like that one.
