The words Bitcoin and boring have rarely been uttered in the same breath.
But after a dizzying rally, a gut-wrenching crash and near-constant ups and downs over the past two years, the cryptocurrency did something strange in recent weeks: it stayed relatively still.
Bitcoin has traded in a $US732 range since September 7, swinging no more than 12 per cent from peak to trough, according to Bitstamp prices compiled by Bloomberg. That's the narrowest trading band for any rolling 28-day period since December 2016, and well short of the 200 per cent range during the height of crypto-mania in late 2017.
1 comment:
I am sure some will say now it can serve as a medium of exchange.
But it won't. Why use tax credits to buy something that you then have to turn back to tax-credits? No value in crypto.
Only question is whether it will be a slow fade for btc or a sudden drop to zero eventually, once people realize you can't speculate on the bubble anymore
Post a Comment