Bitcoin is Like Dot-Com Bubble, Morgan Stanley Says

Bitcoin’s recent moves almost mirror to the Nasdaq Composite Index in the lead-up to and aftermath of 2000, but at x15 speed
20 March 2018   392

A group of analysts of the American banking holding Morgan Stanley has published a new report, which draws parallels between the recent take-off of bitcoins and the boom of dotcoms that occurred in the late 90s, reports Bloomberg.

According to analysts, at present the movement of the bitcoin rate almost completely repeats the Nasdaq Composite Index on the eve and after 2000, but 15 times faster. Then the index rose by 278% in 519 days and peaked in March 2000. In turn, bitcoin jumped by 248% in just 35 days - down to a record $ 19 511 last December, the report said.

Nasdaq / BTC Compare
Nasdaq / BTC Compare

In addition, it is noted that since the end of last year bitcoin has experienced three waves of falls, when its price fell every time by 45-50%, before the rebound occurred. At the same time, the Nasdaq experienced five sharp falls after 2000, which were 44% on average.

Rising trade volumes are thus not an indication of more investor activity but instead a rush to get out.
 

Sheena Shah

Strategist, Morgan Stanley

Bear market is not something new for the Bitcoin. So, after the records of the end of last year in February, the price of bitcoin fell by 70%, and in this "there is nothing unusual," added Morgan Stanley. At the same time, since December 2017, trading volumes of bitcoin have grown by almost 300%.

Australia joins the crypto-discussions arena with Bitcoin & Blockchain Fair

The inaugural Bitcoin and Blockchain Fair will be presented at the Sydney Showgrounds on May 12-13 with an all-round program about cryptocurrency and blockchain
21 April 2018   44

A high profile event in cryptocurrency and blockchain is coming to Sydney, Australia on May 12-13 – Bitcoin and Blockchain Fair. The conference will provide a platform to interact and discuss on all areas of the cryptocurrency and blockchain technology sectors (fintech, investment, venture capital, regulation, ICO, etc.), current opportunities and perspectives in the form of a Forum and an Exhibition Showcases.

The Exhibition Showcase that will allow to exhibit showcases and engage with crypto services providers, government and fintech startups. Forum is the bulk of the conference and is comprised of 2-day sessions to allow international speakers and industry leaders of the crypto and blockchain sectors a chance to share their expertise. May 12 is focusing on cryptocurrency and ICO engagement; May 13 wil cover blockchain technology overview, case studies, solutions and future trends.

The fair is organized by ABF Business and Principal Sponsor Coinspot. Exhibitors and Speakers include attendees from Asia, Europe and USA together with key Australian high profile crypto & blockchain enterprises. The full agenda of the event can be found here.