Published On: Sun, Apr 8th, 2018

Bitcoin to Burst Faster than Tech Bubble? Someone Tell Morgan Stanley It’s Been Almost a Decade Now

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When it comes to talk of “The Bitcoin Bubble,” the FUD never stops — especially when it comes from traditional financial institutions like Morgan Stanley.
They Look the Same (But Not Really)
According to Sheena Shah, a strategist at Morgan Stanley, there are similarities between Bitcoin and the Nasdaq during the 1998-2000 technology bubble — with his argument centering around the fact that both experienced massive run-ups before dramatically decreasing in value.
As displayed in a chart from Bloomberg and Morgan Stanley Research, Nasdaq and Bitcoin appear to have followed very similar patterns. However, the timeframe in question is highly skewed — and apparently illustrates Morgan Stanley’s ignorance to the fact that Bitcoin has existed for nearly a decade.

On the graph in question, Nasdaq is charted from June 1994 until June 2002 — an 8-year span. It is then overlaid with a chart of Bitcoin over a significantly shorter timespan, from February 2017 to February 2018. Forbes then notes that “If Bitcoin follows the same pattern it could be around $1,500 in a few months time frame.”
Of course, simply adjusting the data to comparable timeframes would effectively eradicate the argument entirely, not to mention the fact …

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