Investor psychology has not changed in the ensuing 25 years since the dotcom-era bust that took down the US stock market in the early 2000s.
The crypto treasury narrative, which has become a major feature of the current market cycle, parallels investor sentiment from the dotcom era of the late 1990s and early 2000s, which caused the stock market to sink by about 80%, according to Ray Youssef, founder of peer-to-peer lending platform NoOnes app.
The same overzealous investor psychology that led to over-investment in early internet and tech companies during the dotcom crash has not disappeared due to the presence of financial institutions in crypto, Youssef told Cointelegraph. He said:
Today, the global financial market is driven by the idea of cryptocurrency, decentralized finance, and the Web3 revolution,” he added.
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