No. of Recommendations: 0
Nothing like it has ever been seen before, so there's no backtesting.
It reminds me of the DNA sequencing 'bubble' circa 1999-2000. Celera Genomics tracking stock (CRA) rose from $14-15 per share to a high of around $321 in about 8 months, before dropping back to something like $9-10 in the tech bubble crash. And the buzz around this tracking stock 'felt' exactly like BTC does today. At that time while it was clear the sequencing of the Human Genome was important (like blockchain today) it was equally unclear that Celera Genomics and Applera would be the companies that would reap the benefit.

For me today, it's pretty clear that the blockchain is a major innovation. It's just equally unclear whether BTC will be the ultimately useful & successful implementation of that innovation (given BTC's already identified & clear disadvantages.) If I had to guess I suspect that other cryptocurrencies - that fix BTCs issues - will be final successful expressions of this innovation, however I could be very wrong in that BTC ultimately acts as a reserve currency. Either way I suspect that patient players will get another chance to procure BTCs at (a lot) lower prices than current when the average Joe who bought BTC in the current run-up expecting to get rich panic on the way down during a correction (much like happened in CRA.)
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