Morgan Stanley: Bitcoin repeats the rise and fall of “dot-coms”, but 15 times faster

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2018-03-20
Morgan Stanley: Bitcoin repeats the rise and fall of “dot-coms”, but 15 times faster

The group of analysts of the American bank holding Morgan Stanley published the new report in which parallels between recent rise of bitcoin and a boom of “dot-coms” was shown, the event in the late nineties.

According to analysts, now the movement of a rate of Bitcoin almost completely repeats Nasdaq Composite Index in anticipation of and after 2000, but 15 times faster. Then the index grew by 278% in 519 days and reached a maximum in March of the 2000th. In return, Bitcoin jumped up for 248% in only 35 days — up to a record mark of $19 511 last December.

Besides, it is noted that since the end of the last year Bitcoin endured three waves of falling when its price every time fell by 45–50% before there was a rebound. At the same time, Nasdaq, after 2000, have experienced five sharp falling which averaged similar 44%.

The bear market isn’t something new to the first decentralized digital currency. So, after records of the end of last year in February the price of Bitcoin dropped by 70%, and “there is nothing unusual in this”, added to Morgan Stanley. At the same time, since December, 2017 the trading volumes of Bitcoin have grown almost by 300%.

“This growth of the trading volume isn’t an indicator of bigger activity of investors, and speaks rather about urgent attempt to leave.”

— the strategist of Morgan Stanley commented.

CRYPTOCURRENCIES
  • bitcoinBitcoin$5,077.98
  • ethereumEthereum$166.11
  • rippleXRP$0.329726
  • tetherTether$1.01
  • eosEOS$5.41
  • stellarStellar$0.116018
  • litecoinLitecoin$80.00
  • cardanoCardano$0.084534
  • tronTRON$0.026954
  • moneroMonero$67.36
  • iotaIOTA$0.320489
  • nemNEM$0.066737
  • dashDash$121.93
  • neoNEO$11.50
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