With Bitcoin and its underlying blockchain protocol soon approaching its 10th anniversary, the phenomenon has had to fend off a range of accusations linked to its legitimacy. The likes of Warren Buffet, George Soros and Nobel Economist Robert Shiller, amongst many others, have all made a direct reference to Bitcoin resembling that of a bubble that is destined to burst. Moreover, such sceptics of the digital revolution argue that the technical red flags currently facing the industry have strong similarities to that of the infamous Dot Com bubble.
Whilst there can be no denying that these warning signs potentially exist, it is also argued that the cryptocurrency space is not set for redundancy per-say, more so that the industry is set for a major long-term re-shape. Essentially, it is important to note that whilst many Dot.com stocks are no longer here to tell their story, one only needs to look at the likes of Amazon, eBay and Priceline to understand that the technology stock crash at the turn of the century was not a demise in its entirety.