11 Sep '13, 6pm

Two Booms, Two Busts: How Bitcoin Is Following In The NASDAQ's Footsteps

Two Booms, Two Busts: How Bitcoin Is Following In The NASDAQ's Footsteps

Yesterday at TechCrunch Disrupt we hosted a panel discussing Bitcoin (a recap can be found here ). During the course of that discussion, I noticed something interesting: The former boom in the price of Bitcoin, and its ensuing refractory period, is quite similar to the NASDAQ’s infamous boom in the late ’90s. For fun, we’ve taken a graph of each, and stacked them on top of each other, which you can see below: (Obviously, we set up this chart to make a point: Comments complaining about how we tweaked it will be ignored.) What can get from this? That booms are – at least in some cases – quite similar. The security here doesn’t really matter, in this case public stock against a digital cryptocurrency. It’s quite interesting to see that what is being traded matters less than the market sentiment that surrounds it. There is a long, slow, measured, low-VIX period (a period of li...

Full article: http://techcrunch.com/2013/09/11/two-booms-two-busts-how-...

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