Ever since Bitcoin started to crash in January you may have started to hear comparisons with Amazon. What can we do? It’s a great uplifting story. Amazon had its stocks exploding during the Dot Com bubble and then later it all crashed down hard.
After years and years, Amazon has one of the best stocks in the world now. Everybody wants Bitcoin to be the next Amazon.
Not only the comparison is good, but it also makes a lot of sense. Bitcoin, even at its price of $4,000 USD per coin, has outperformed Amazon. After lowering its price and dipping into the $3,500 USD, the token managed to get some of its value back and it is now around $4,200 USD.
Most of the pressure down on prices happened because there was a mass sell-off that was caused mostly because a lot of stop-loss mechanisms were set up. Predictions are saying that it might take a while before Bitcoin is finally able to be worth over $5,000 USD again, so predictions are not really very good right now.
The Amazon Comparison
Despite all the issues that Bitcoin has right now and all the difficulties that the token has when the bear market is strong, the truth is that Bitcoin has outperformed Amazon in five out of seven years. Will Bitcoin beat Amazon’s $880 billion USD market cap? With a current hard cap of $73 billion USD, this is only a dream now but nobody can say that it will not become a reality in the future.
While it looks like the bear market is far away from us right now, the truth is that nobody actually knows where we are headed now. Some people argue that cryptos have hit rock bottom and that they will go up again while others do not see the cycle as closed yet.
In any case, the truth is that cryptocurrencies may follow Amazon and go up back again. There is hope, we just have to be really patient and see what the future brings us.
The truth to the story is that, if you offer a good product or technology, you will be rewarded. And Bitcoin, if it is able to solve its problems with scalability, will be able to do just that.