I first noticed this years back as the bubble was forming and had been watching it. However I was reminded of just how striking the similarities were in a tweet by @CryptoCharles_
Here's an update on the Amazon vs Bitcoin bubble pop pic.twitter.com/LFqJs2KjVU
— Charles (@CryptoCharles__) November 22, 2019
Of course this doesn’t mean Bitcoin has to follow the same path. However, let’s remember, after an initial recovery after the big bubble (in which Amazon dropped to $5) Amazon made its way from a low of $30 all the way up to over $2,000 in 2018 and 2019.
If anything like that did happen with Bitcoin, that means the future could eventually be pretty bright.
For now though, the comparison is a little more than a bit of a fun and a reminder that price action doesn’t have to take us straight back to $20k to be on the right path.
"Amazon Bubble Vs. BTC Bubble" contains information about the following Cryptocurrencies: