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Bitcoin Bust Reminds Morgan Stanley of Nasdaq Crash, But Faster

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Bitcoin's 'Death Cross' Looms as Ominous Investor Signal

Bitcoin has long been compared to the dot-com bubble. Morgan Stanley says its recent moves are similar to the tech boom and bust, but on steroids.

Bitcoin’s recent moves almost mirror that of the Nasdaq Composite Index in the lead-up to and aftermath of 2000, but at 15 times the speed, Morgan Stanley said. The Nasdaq climbed 278 percent in 519 days in the rally leading up to its high in March 2000, while Bitcoin soared 248 percent in 35 days in the last leg of the rally to its $19,511 high in December, according to the report.