Bitcoin Risks Crashing to $900 If Dot-Com Mania Is Any Guide

Bitcoin is heading lower -- much lower -- if the go-go years of the dot-com bubble are any indication.

Already slashed by more than half since hitting a record near $20,000 in December, the cryptocurrency could plunge a further 90 percent in an environment of unsustainably growing supply, according to Bloomberg Intelligence commodity strategist Mike McGlone. Using Amazon.com Inc. and the Nasdaq Composite Index’s spectacular rise and retreat at the turn of the millennium as a proxy, he said the currency could plunge to $900.