We’re two days into the crypto “crash” (not a crash) and volume is already returning to the Bitcoin trade. Over $40 billion, up from the $25 billion or so during the slide.
Mainstream outlets had a field day characterizing the fall from the all-time-high of $68K as some sort of grand reckoning. Headlines highlighted the hundreds of billions in market cap “lost”.
They neglected to mention that BTC was $17,800 a year ago. That’s still an over 300% gain.
People like zeros. There’s a psychological comfort in 60K rather than 59K. But it’s the same Bitcoin, the same use cases, the same underlying value vs. fiat.
In the long view, short-term price action is a non-event. Crypto markets, like equities, do not go up in a straight line, and that’s perfectly fine.
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