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Everything seems to be underperforming. Most tech stocks are at their 2020 levels or headed towards it. Almost all tech IPOs in the last year are down. With eve

Everything seems to be underperforming. Most tech stocks are at their 2020 levels or headed towards it. Almost all tech IPOs in the last year are down. With everything being down, how is Bitcoin's performance an outlier?

mettamage 4y ago
Not IMO. Simply more volatile.
layer8 4y ago
Bitcoin is not supposed to behave like a stock.
- Eddy_Viscosity2 4y ago
  Exactly this. If the great promise of crypto was that it would just be another market asset, then the comparison with stocks is fine. It's that all the great promises of crypto being different, better, than the 'fiat currencies' and centralized stock exchanges. If you called bullshit on it they condescendingly accused you of just not getting it. This crash shows that it was all bullshit and still is.
  - kayamon 4y ago
    I don't think you've quite got it yet.
wil421 4y ago
Tech stocks are down about %40ish and some IPOs I tracked are half or less. Bitcoin has gone down from $70k to $20k in a year, that’s close to 350%. Not to mention it’s down 500% since the $100k high.
- ekianjo 4y ago
  Not hard to understand why. During a crisis the assets that are considered the most risky are the first to go, and crypto assets fall in that category. Then it becomes a spiral, where new lows bring new sellers until it reaches an equilibrium at some point.
- jmillikin 4y ago
  > Bitcoin has gone down from $70k to $20k in a year, that’s close > to 350%. Not to mention it’s down 500% since the $100k high. That's not how percentages work, and your Bitcoin price numbers are wrong too. If an asset drops from $70k to $20k, that's a 71% drop. If it went from $100k to $20k, that's an 80% drop. For Bitcoin to drop 350% would mean that someone who purchased it lost more than their initial purchase cost. The all-time high for Bitcoin is about $61k, not $100k.
- deleted 4y ago
  [deleted]
Hamuko 4y ago
It was worth $30,000 nine days ago. Have stocks lost a third of their value in the last 10 days?

mettamage 4y ago

Not IMO. Simply more volatile.

layer8 4y ago

Bitcoin is not supposed to behave like a stock.

Eddy_Viscosity2 4y ago
Exactly this. If the great promise of crypto was that it would just be another market asset, then the comparison with stocks is fine. It's that all the great promises of crypto being different, better, than the 'fiat currencies' and centralized stock exchanges. If you called bullshit on it they condescendingly accused you of just not getting it. This crash shows that it was all bullshit and still is.
- kayamon 4y ago
  I don't think you've quite got it yet.

wil421 4y ago

Tech stocks are down about %40ish and some IPOs I tracked are half or less. Bitcoin has gone down from $70k to $20k in a year, that’s close to 350%. Not to mention it’s down 500% since the $100k high.

ekianjo 4y ago
Not hard to understand why. During a crisis the assets that are considered the most risky are the first to go, and crypto assets fall in that category. Then it becomes a spiral, where new lows bring new sellers until it reaches an equilibrium at some point.
jmillikin 4y ago
> Bitcoin has gone down from $70k to $20k in a year, that’s close > to 350%. Not to mention it’s down 500% since the $100k high. That's not how percentages work, and your Bitcoin price numbers are wrong too. If an asset drops from $70k to $20k, that's a 71% drop. If it went from $100k to $20k, that's an 80% drop. For Bitcoin to drop 350% would mean that someone who purchased it lost more than their initial purchase cost. The all-time high for Bitcoin is about $61k, not $100k.
deleted 4y ago
[deleted]

Hamuko 4y ago

It was worth $30,000 nine days ago. Have stocks lost a third of their value in the last 10 days?