Is Bitcoin The Next Apple In The Making? Analyst Draws Parallels

In a collection of tweets, Jurrien Timmer, the worldwide macro director at Constancy Investments, drew parallels between the crypto market and the tech bubble of the late Nineteen Nineties. Timmer means that simply as some tech shares emerged as winners from the dot-com bubble, sure digital property within the crypto business will rise whereas others could fade away. 

May Bitcoin be the “Apple” of digital property, beating the percentages and ushering in a brand new period of dominance?  Learn on!

The New Apple Of The Crypto World

Timmer particularly highlights Bitcoin (BTC) as a possible “Apple” of the crypto world. He explains that just like how Apple and Amazon survived and thrived after the tech bubble, Bitcoin may additionally not solely survive but in addition take market share from different digital property.

As an example his level, Timmer overlays Bitcoin’s present chart with that of Apple’s inventory and an web inventory index from twenty years in the past. The charts appear to exhibit comparable worth patterns, implying a doable correlation between Bitcoin and the profitable trajectory of Apple throughout the dot-com bubble.

Learn: Analyst Predict BTC Value Can Surge 200% Forward of Bitcoin Halving – Coinpedia Fintech Information

A Bumpy Street To Dominance

He additional notes that even Apple skilled a big decline throughout the bubble burst, however finally recovered and have become a dominant drive within the tech business. Whether or not Bitcoin will observe an identical path stays to be seen.

As of the writing, Apple (AAPL), buying and selling at $0.22 in 2002, has risen to $177.25, reflecting a staggering acquire of roughly 80,345%.