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It only looks like it is crashing when you look at it on a linear scale. Because a linear scale makes the same swings (percentage wise) look larger during times
by TekMol 4y ago
It only looks like it is crashing when you look at it on a linear scale. Because a linear scale makes the same swings (percentage wise) look larger during times when the price is higher.
When you look at the Bitcoin chart over the last 10 years on a log scale, you see that a halving over a timespan of 6 months is completely normal given the volatility.
The volatility has been always like this. The only thing that changed is that the price is at an all time high (in terms of orders of magnitude) at the moment.
- uoaei 4y agoThis is exactly the problematic attitude though. Because all the rhetoric about Bitcoin is about how it should be a better, more permanent, eminently perfect currency vs what we have now. But what we have is people justifying its continued relevance by pointing purely to its features which make it useful for financial speculation. The rhetoric about crypto futuro-optimism is just a Trojan horse, a ruse, to justify making money off marks.