The cryptocurrency craze over the past year saw the prices of crypto tokens rise to tens of thousands of times their original values. And Bitcoin wasn’t the only token to reach its all-time high. Even the prices of altcoins like Ethereum, Cardano, Ripple, Stellar, and NEO were all buoyed to new heights by the increased demand from investors seeking to take a piece of the action. The cryptocurrency market hit a peak of total capitalization of nearly $800 billion in January earlier this year.
The market’s meteoric rise had many, especially those from traditional investing, calling the phenomenon a “bubble.” Since people try to make sense of new events using the past, the crypto space has been commonly viewed through the lens of the “dotcom crash” in the late 1990s- the early 2000s. Hundreds of companies met their ends in the aftermath of the so-called “dotcom bubble.”