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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 ment
by 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 agoNot 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]