Bitcoin got absolutely crushed yesterday.
It dropped close to 15% in roughly 30 minutes, enough to scare even the most seasoned bitcoin traders.
I wish I could say that drops like that are the norm for bitcoin because they sure feel like it, but actually big drops like that are becoming more and more rare as time has gone on.
Don't believe me?
Check this out...
Below is a list of the number of days bitcoin has fallen by more than 10%:
2011 - 17
2012 - 6
2013 - 17
2014 - 4
2015 - 6
2016 - 1
2017 - 8
2018 - 9
2019 - 2
As you can see there seems to be a trend of decreasing big drops as time has gone on.
Yes, it is harder to move prices in percentage terms when they have 5 digits attached to them compared to when they are single digits like in the early days...
But... it is still interesting to take note of and something investors care about either way.
(Source: https://www.wccq.com/todays-feel-good-story/)
Check out the price of bitcoin on this day since creation:
2010: 6¢
2011: $4
2012 $12
2013: $129
2014: $410
2015: $235
2016: $602
2017: $3,776
2018: $6,430
2019: $8,453
(Source:
)https://twitter.com/Rhythmtrader/status/1176870701984342016
- Rhythmtrader
It was only lower than the previous year one time on this date.
It's basically been higher year after year all the way up.
Regardless of what happened yesterday, bitcoin is still one of the best performing assets in human history.
For that to change now would be to utter that fateful investing phrase that has ruined many a portfolio...
"But this time it's different"
Stay informed my friends.
-Doc
