'The Moment You Say Bitcoin Can’t Do Something, It Does.', mkhelfman bitcoinprice btc cryptocurrencyinvestment cryptotrading personalfinance financialmarkets hackernoon webmonetization
What do you call an asset that’s up 22% on the year, 7% in the past six months, and 6% since October?
In October—er, “UPtober”—seemingly everybody thought bitcoin and the wider crypto market would go straight up to a supercycle supernova moonshot lambo and maybe even market cycle peak. For highly-traded assets like those in the S&P 500, you usually have a lot buyers and sellers relative to the amount of stocks on the market. For individual stocks, it varies a lot from one stock to another. For the overall market, it’s a lot of people making a lot of deals at any given time.
Let’s set the limit at two months. How many times has bitcoin’s price gone up 60% in less than two months?June 4, 2019 - June 26, 2019 November 26, 2020 - Jan 8, 2021 Sep 21, 2021 - November 10, 2021
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