The BTC 5-year chart is eerily similar to the Nasdaq of early 2000's.

here's a log scale chart of BTC from its inception. Doesn't look too bad to me.
upload_2022-1-23_20-45-1.png
 
Pekelo said:
This was already addressed and it is based on the misbelief that Bitcoin WILL ALWAYS have a higher high. Like forever...
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With the stock market you can have a high degree of confidence that it will keep going up, over the long term, because there are hundreds of years of data to support this.

Gold is less reliable but has an even longer track record as a preserver of wealth.

With bitcoin, you've only got a dozen years.
 
Ed48 said:
With the stock market you can have a high degree of confidence that it will keep going up, over the long term,
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Good point, but:

1. Keep going up doesn't necessary means always new ATH. What if it takes 5-10 years just to get back to 64K, because volatility dies down? (or bear market) Also the expectation is 2-300% for the new ATH compared to the previous one, not 20% more. So if BTC goes up to 70K in 2 years, that is technically a new ATH, but way below expectations.

2. Cryptos have systematic risk like being banned, forked or just losing interest because something newer, flashier comes up. Newer gamblers don't realize this.

3. The Japanese market still hasn't reached its 80s ATH, 40 years later. How many crypto fans are happy to wait 2-3 decades just to break even? (hell even just 5 years?) It is a get rich quick scheme...
 
All true.

Out of interest, is there a price, if it keeps falling, where you'd take a punt on it? $20k, $10k? Or would you never touch it, no matter how cheap it gets?
 
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