Brace For Impact: A Dot Com Magnitude Crash To Rock The Crypto Market?

The crypto market has been through a rollercoaster of a weekend. It follows on the back of bitcoin listing its footing above the $40,000 level last week, although the digital asset has done a good job holding above the $36,000 support level. However, it seems that the end of this bear trend may not be near given some recent chart action happening in the stock market. If this prediction comes to fruition, then the market may see more value shaved off its market cap soon. A Dot Com-Like Crash? Peter Brandt has recently posted a concerning chart that shows eerie similarities to the dot com crash of the early 2000s. Brandt is known for predicting the crypto market crash of 2018 and is a respected chartist in the space. Having proven to know his charts, his predictions have become quite popular among crypto investors. Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline This is why Brandt posting a chart of the Nasdaq 100 that looks like that of the dot com chart right before the crash has worried investors. Basically, if this turns out to be like what happened in 2001, then the market may see a lot of stocks lose their value very quickly. BTC recovers above $38,000 | Source: BTCUSD on TradingView.com Now, it is important to note that the Nasdaq is trading at a significantly higher point than it did in the early 2000s. However, the recent market movements seem to closely mirror the mov...