More comparisons are being drawn on Bitcoin and the tech bubble

This time from Morgan Stanley

They say that “Bitcoin price weakness has similarities to the Nasdaq in 2000, just occurring at 15x the speed”.

The Nasdaq peaked at 5,048.62 – at the time an all-time high – on 10 March, 2000. The index then entered a bear market before hitting a low of 1,114.11, almost a 78% drop from the peak. The low was hit in 9 October 2002.

Cryptocurrencies have not enjoyed the March trading month so far, with even one of the better performing ones this year – NEO – which saw its price double at the end of January, is now trading below the closing price of last year.

Any thoughts from our cryptocurrency traders out there?