From a bubble to a new paradigm

Just some thoughts on the market psychology on bubbles.

Prevailing market sentiment on Booking in 2000:

"No stock can recover from that type of bubble."
"Booking is the new Tulip bubble, they took your money for good."
"Internet companies? The Internet is nice but you can't expect them to be able to make real money."

Prevailing market sentiment on Bitcoin in 2019:

"No financial asset can recover from that type of bubble."
"Bitcoin is the new Tulip bubble, they took your money for good."
"Digital currencies? Cryptos are nice but you can't expect them to have any real use in the real world."


Booking went from one of most thunderous busts of the Dotcom Bubble to being its industry's leader. Despite Bitcoin's impressive historic chart, it faces the same degree of disbelief.

Will history repeat?