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What a historical analysis of the 'Dot Com' crash reveals about today's cryptocurrency market
Sep 13, 2018
In 2000, Internet stocks across markets began to tank, collapsing what is now known as the, ‘Dot Com Bubble’.
In early 2018, the cryptocurrency market underwent a similar rise and fall, drawing many comparisons to the Dot Com Bubble bursting.
The Nasdaq Composite's (CCMP's) climb to its peak was much more gradual, spanning the course of more than 2-years while BGCI grew over 800% in just under 3-months.
Individuals draw comparisons between Internet stocks’ unrealistically high valuations with cryptocurrency’s lack of fundamental value as reasons for the two markets crashing.
Both events featured an explosion in projects and startups looking to capitalize on the new tech craze to secure funding. Each market crashing should have worked to weed out projects doomed to fail.
Despite Internet stocks crashing, their applications and potential eventually led them to recover. Had you bought and held the CCMP near its low, you would be up over 600%! Is now the best time to buy cryptos?
Source: Bloomberg
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