Many people fail to grasp why Bitcoin is such a robust investment at any given moment. Although it may seem like the market has run its course, that is far from the case. Its overall yearly performance outshines the competition. So even with a bearish year mixed in now and then, there is no reason to despair whatsoever.
Bitcoin Remains A Strong Performer
One can interpret historical market data in anyways. Some see it as a validation of the overall trend, whereas others claim “those who got in early got lucky”. Regardless of which side you’re on, you cannot dispute the overall data. Bitcoin has performed much better than anyone could have thought years ago. While note ver year is a solid uptrend, the overall price momentum has never been broken successfully.
Throughout the years, the world’s leading crypto asset has had two bearish years. However, every other year, it has noted a yearly gain between 34% and 5,429%. A remarkable development, as many people remain fearful of cryptocurrencies and what they represent. It is a very different market from traditional finance, which explains part of its success.
— ChartsBTC (@ChartsBtc) August 11, 2021
One has to remember one BTC used to trade for $0.29. It has been priced as high as $64,895. That is an enormous price gap that one will not encounter with any other asset in ten years. Moreover, cryptocurrencies do not trade during business hours only, or Monday to Friday. These markets are accessible 24/7/365 and will result in wild price fluctuations, either for better or worse.
The yearly low value per BTC has exploded in recent years. One could have scooped up BTC for $152 in 2015 or $751 in 2017. Since 2018, it has not dropped below $3,129 again, indicating the uptrend remains firmly intact. As 2021 is far from over, the current high of $64,895 may be a mere placeholder for what is yet to come. Markets are always unpredictable, and cryptocurrencies remain incredibly volatile.
When is The Next Bearish Year?
That is the million-dollar question for many speculators and traders. The previous bearish years took place in 2014 and 2017. Logically speaking, one would’ve expected 2020 to meet a similar fate, yet that was when BTC surpassed $25,000 for the first time. Instead, it closed 2020 at $28,993, negating that entire three-year cycle altogether.
Many people expected 2021 to become the next bear cycle. Instead, Bitcoin and other markets shed over 50% of their value in a matter of days. Despite that setback, BTC is still up by 57% for the year, blowing all other markets out of the water. There will always be temporary setbacks with cryptocurrencies, but breaking the overarching trend is far more complex. Bitcoin is still in an upward trend, regardless of what may have happened earlier this year.
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