Rockefeller International’s Managing Director and Chairman, Ruchir Sharma, argues that Bitcoin (BTC) is really a brilliant concept. One that has been destroyed by excessive speculative fervor and easy access to cheap capital. Bitcoin Rebound Is A Matter Of Time Sharma, a New York Times bestselling author and former emerging markets investor at Morgan Stanley (MS), predicted that bitcoin could experience a comeback similar to that of Amazon. Amazon’s value fell by about 90% during the early 2000s dot-com collapse but increased by more than 300 times over the course of the following 20+ years. Although Sharma agrees that there may be more turbulence for bitcoin and the larger world of digital assets over the next months, this may also serve to remove weak players from the market. Some claim that has already occurred. According to him, Bitcoin is still “caught up in this speculative mania,” and is still indicating a partial worldwide collapse. He brought up the Amazon incident again, noting that it took the company some time to recover. The shares of the online store needed some time to match and surpass its frothy 1999 level. Reltaed reading | TA: Bitcoin Price Trims Gains, Key Breakdown Support Nearby The early 2000s dot-com bust led to a huge decline in the value of Amazon’s shares. However, during the course of the following 20 years, the value of the shares was able to increase by a factor ...
