Bitcoin Following Eerie Amazon Dot Com Fractal Would Lead To Retest of $20,000 Record
If the first-ever cryptocurrency can break that level, according to an eerily similar fractal from dot com-era Amazon stock charts, a retest of the asset’s all-time high would immediately happen next, followed by a steady uptrend that lasts for decades thereafter. Related Reading | Venture Capitalist: Crypto Gains Won’t Come As Easy During Next Bull Run
In the early days of the dot com bubble the asset class has been compared to – along with tulips and other speculative bubbles – internet brands weren’t the giants they are today, and many ideas failed along the way.
But what’s even more striking, is an eerily similar fractal playing out on Bitcoin price charts that match price action from dot com era Amazon stocks. If the leading crypto asset by market cap continued to follow Amazon‘s fractal, the current share price of the world’s largest online retailer would put the price per BTC at over $400,000 each, midway through 2024.