RE: Bitcoin (BTC) Morning Update: Triple Decker Inverted Head & Shoulders
In 1997 , there was a dot com bubble, the internet started exploding, because everybody believed that this is the next big thing.
Since everyone wanted to make money, people simply started throwing money at every new tech company, thats why new companies emerged every day!
In fact, over 1300 companies were created during that period and among them were google, amazon and many others.
The stock market was going through the roof because everyone was investing, so the media was obsessed about it and never stopped talking about the financial boom that was going on in the stock market, which drove even more people to invest and that led the prices to increase to unbelievable numbers.
And as always media started raising the panic again, that if that this is the end of the world, and that led everyone else to pull out their investments. And the result was that, Most of these companies went bankrupt and people lost billions of dollars.
Only few companies could survived the crush and today they are leading the tech industry. The same thing happened in 2008 by the way and now its it is happening to cryptocurrencies.
Dotcom was 3 trillions.
Stock market ( dow jones ) can go to 40K before collapse
Crypto is 5 billions... it is nothing.... 1% 1.5% of the population into it... projection 10%-15%
Market cap 1-2-3-4-5-6-7-8-9 Trillions (with inflation from 2000).
So yes it will come but not so fast ;-)
So, we have some time. 😀
The Dot com boom at peak was $6.7T actually and happened on dial up with the internet far from the omnipresence we see now.
As of today the total MC of crypto is $509B - I assume you are using USD?
Hmmmmm true, very true. So, what do you suggest people do this present moment?
I think we should invest on better technology like Cardano, Tron, Icon
I hope this was ironic...
I agree with you, how long will bitcoin remain the top dog? Since Ethereum, Dash, Litecoin work better. What coin does nobody know, that will remain when the others fall behind?
eth dash and litecoin only work better cause they dont do millions of transactions a day. Wait to they do that, then compare them to Bitcoin. Bitcoin is the leader because it 7-10 years ahead of most coins.
And if it gets lighting, you can say bye bye to over 1300 coins.
According to Block'tivity, Bitcoin's record of transactions in a 24 hour period is 497,349Tx.
Also ETH does more transactions than Bitcoin
If I remember correctly Bitshares holds the transactions record. If you are looking for a coin yet to moon / generally unheard of, that could be a future dominant force I'd look at ELASTOS.
looks like a project that I genuinely cant wait to be able to use. Whats your price prediction for it? its hard when you don't know what the market cap or total supply is.
But they can handle more transactions right. IMHO I could see the limits that bitcoin has kill it faster than the competition will be able to. But he that’s my 2 cents.
So choose the right project.... You gotta risk it to get the biscuit!
No one asked for your story