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Cryptocurrency's Rollercoaster Ride: Why Has the Thrill Faded?

By Tim KnightCryptocurrencyOct 12, 2023 01:14AM ET
www.investing.com/analysis/cryptocurrencys-rollercoaster-ride-why-has-the-thrill-faded-200642623
Cryptocurrency's Rollercoaster Ride: Why Has the Thrill Faded?
By Tim Knight   |  Oct 12, 2023 01:14AM ET
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A few years ago, if you were a compulsive gambler and wanted excitement, the world was your oyster thanks to meme stocks and crypto. Crypto in particular was insanely volatile, with Bitcoin, for example, zooming and crashing by tens of thousands of dollars on a nearly constant basis.

Bitcoin-Price Chart
Bitcoin-Price Chart

These days? Not so much. Crypto is now mainly known for (1) FTX (2) Caroline Ellison Halloween masks (3) Bitcoin costing pretty much $26,000 or so no matter when you look. Instead of moving up and down by tens of thousands of dollars, Bitcoin moves up and down by hundreds. No one gives a crap anymore.

BTC-Price Chart
BTC-Price Chart

Below is a presentation that captures this nicely, illustrating by way of a cluster chart the dynamism of Bitcoin from year to year. In 2023, the grouping is much more tightly clustered than it was in 2021, when the damned thing was just all over the map.

Bitcoin-Volatility Chart
Bitcoin-Volatility Chart

Cryptocurrency's Rollercoaster Ride: Why Has the Thrill Faded?
 

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Cryptocurrency's Rollercoaster Ride: Why Has the Thrill Faded?

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Comments (3)
Robby Stull
Robby Stull Oct 30, 2023 1:51AM ET
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with fiat currencies being in uncertain times and all the talk of government digital currencies along with fears of control/overreach into our personal affairs will continually push crypto higher.As well as a personal reserve currency to be used incase fiat fails as it can be used anywhere anytime for just about any purchase, no matter which continent you're on. I personally feel it's comforting knowing that I have an option other than government issued fiat.
Fardin Daghigh
Fardin Daghigh Oct 16, 2023 7:27AM ET
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Jeff Stuart
Jeff Stuart Oct 12, 2023 10:12AM ET
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Bitcoin is simply yesterday's news.
 
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