Seemingly like clockwork, when there is a new record broken by Bitcoin in this unprecedented rise of digital currencies, there are those who want to draw similarities to different bubbles.
David Ader, chief macro strategist at Informa Financial Intelligence, is now trying to show how Bitcoin's gains resemble that of the Nasdaq Telecommunications Index before the tech bubble burst.
Placing Bitcoin’s growth chart over that of the Nasdaq Telecommunications Index, and its subsequent rise, Adler is surmising that Bitcoin has hit the same peak and thus should be ready to plummet in a similar style.
Nasdaq reached its peak in 2000 before a monumental crash and for Adler, the similarities are there for Bitcoin’s run to this most recent all time high.
Full story at http://bit.ly/2wv21ds
Source: CoinTelegraph
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