Are cryptos in a bubble like dot-com?
A title like that often bring strong reactions from crypto lovers.
But first things first, I also like the idea of crypto currencys a lot and I believe they will be a part of the future.
But when you look on the historic data of the dot-com bubble the problem was not, that the internet was not the future - it surely was - it was more the problem that hundreds of companies started collecting money and promised great market gains and making millionaires.
Some of them could hold their promise (like Amazon and ebay) but most just died out after the bubble busted.
Isn't it the same in crypto land? We have **700+ crypto companies / coins ** and all are processing to make you rich? A lot of **ICO'S collecting millions of dollars ** without having a product yet (or if they have maybe it's still not strong enough to hold the claim.
I do not know if the bubble is about to burst soon, maybe it will keep growing another year - or two.
But sometime people will realize that most blockchains do not fulfill their promise and therefore lose their value.
if you study history there are two great rules that seem to proof itself again and again
** 1. History repeats itself **
** 2. Most people do not learn from the past **
How many coins do you think will survive? Which anD why?
I don't think cryptocurrencies are in a bubble, a bubble usually means the market is eventually going to collapse. Google and Facebook skyrocketed in value and show now signs of stopping, they have value and purpose and morst people use them most days. I think cryptocurrencies are the same, they are here to stay, and will change the world
Beeing in a bubble that eventually will burst and leave a lot of scars to those who overvalued it does not mean that the whole thing is bad ore useless.
That's. What I said, most likely a big share of cryptos will die out when the bubble bursts, but a few will survive and after the dust clears we can expect them to rise out of the ashes. But it might be only a small part of the market and many who put their money in the wrong chaine might loose a lot.