Home / Bitcoin News / Bitcoin’s Performance looks just like dotcom boom but 15 times faster says Morgan Stanley

Bitcoin’s Performance looks just like dotcom boom but 15 times faster says Morgan Stanley

Morgan Stanley compared at an accelerated course of events for bitcoin’s execution to the dotcom period. Sheena Shah, a Morgan Stanley market strategist, in an exploration report referred to in CNBC, painted a conceivably inauspicious picture for the eventual fate of bitcoin, discovering similitude in the price performance and volume levels with the tech-loaded Nasdaq when the new century rolled over. At one of its most minimal circumstances, the blasting of the tech bubble saw organizations losing between $10 million and $30 million on a quarterly premise.

Nasdaq during the dot-com bubble nearly 20 years ago, and the performance of bitcoin seems the same but the timeline is unfolding much faster, according to research published by Morgan Stanley on Monday.

“Simply that the bitcoin rally was around 15 times the speed,” Sheena Shah, strategist at Morgan Stanley said.

Overall, bitcoin price has lost 45 percent to 50 percent of their incentive in each bearish wave, which Shah said is like Nasdaq’s conduct 18 years back.

“The Nasdaq’s bear market from 2000 had five value decays, averaging a shockingly similar measure of 44 percent,” Shah said.

Trade volume could be another warning. Since December, bitcoin exchange volumes have hopped about 300 percent, Shah said. Be that as it may, each rally in front of the bear markets saw volumes fall.

The follow-up rally for both bitcoin and the Nasdaq always saw falling trading volumes,” Shah said. “Rising trade volumes are thus not an indication of more investor activity but instead a rush to get out.

About Steve Anderrson

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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