At least if Bitcoin were to follow a similar pattern to what we saw with Amazon and the dotcom bubble in the late 90's and early 2000's.
Bloomberg came out with a chart where they overlayed the chart of bitcoin over the chart of Amazon during the tech bubble.
The claim is that the current mania we are experiencing is very similar to what happened back in the late 90's with the internet and internet stocks.
The chart being referenced can be seen here:
(Source:
)https://twitter.com/business/status/963554149366460417
- business
Their worst case scenario not all that bad?
While that may sound like terrible news, that also means they are calling for bitcoin to not only break $20k, but after the initial break, they are calling for a pullback and then ultimately a higher high from there.
Which would mean that $25k bitcoin this year would very much be on the table.
Which just so happens to be the same number that Tom Lee has been calling for this year.
It would be interesting if both could turn out to be correct.
Overall, their call doesn't sound all that outlandish to me.
Yes blockchain technology is revolutionary and yes it is here to stay, but that doesn't mean bitcoin is.
That is part of the problem with this entire space, picking the right winners takes a little bit of skill and a whole lot of luck.
Researchers from Microsoft declared that the eventual winners in the blockchain space will likely be the ones that effectively integrate off-chain solutions, similar to what bitcoin has been trying to do with the lightning network.
Their conclusion was that in order to scale to the kinds of numbers and transactions that would make them able to compete with today's standards, it would have to be done via off chain solutions.
A lot left to be decided?
Which, if that is the case, the blockchains that we see right now in their current forms are a long ways off from what is going to be needed to effectively replace current business practices.
Which means, bitcoin could eventually be worth $25k+ or $1k, or possibly both within a few months of each other. :)
Happy trading/investing.
Stay informed my friends.
Follow me: @jrcornel