Could Bitcoin follow the dot-com crash NASDAQ chart after the crypto bubble?

The crypto bubble and bitcoin’s meteoric rise are often compared to past bubbles, such as Tulip madness or the dot-com crash.

But could Bitcoin’s price chart actually follow an echo bubble fractal that was seen on the NASDAQ charts after the dot-com bubble burst?

 

Bitcoin follows NASDAQ dot com collapse fractal

The leading cryptocurrency by market cap took the world by storm in 2017 when the crypto asset reached an all-time price of $ 20,000.

Since then, the crypto bubble has exploded – causing Bitcoin to drop over 80% to its final low of $ 3,100, while the rest of the crypto market has lost up to 99% of its value.

The cryptocurrency bubble is compared to a number of past bubbles, but one pattern shows particular similarity: the direct comparison with the price chart after the dot-com collapse of the NASDAQ stock index. It shows a price pattern that looks similar to the price action on the Bitcoin markets.

After the dot-com bubble burst, NASDAQ crashed up to 80% of its peak price, just like Bitcoin. After the asset bottomed out, it grew in value almost three times at the height of a subsequent echo bubble rally.

When the Echo Bubble Peak is reached, the fractal similarities between NASDAQ and the current Bitcoin price campaign become even more convincing.

After a certain consolidation just below the echo bubble peak, the asset suffered a significant decline, followed by a strong recovery.

Sounds familiar? At the end of October, Bitcoin had the same bearish retest and a strong rally when Chinese President Xi Jinping spoke out for blockchain technology. The message-driven pump led to Bitcoin’s third largest one-day win in its history.

However, the entire rally was later wiped out in a continuation of the current downward trend.

 

What happens next to crypto after Bitcoin is back on the ground?

If Bitcoin continues to follow the same post-dot-com NASDAQ pattern, the first cryptocurrency would suffer a strong and violent plunge by another 30-40% from here towards the last remaining diagonal trend line. It is currently around $ 5,000 to currently $ 4,800.

The good news is that after Bitcoin hit rock bottom again, he got involved in the biggest bull run the world has ever seen – one that still takes place today, almost a decade after the first collapse.

Should Bitcoin take this course, cryptocurrency number 1 could eventually reach prices of $ 100,000 to $ 1 million per BTC, as some analysts predict.