Looking at bitcoin akin to commodities is important because the effect of news is different. Just like with oil prices, bad and horrible news typically causes for a rise in oil prices. Hurricane in the gulf? Conflict in the other gulf? Higher oil prices because the supply is further constricted. You have probably felt this at the gas pump your entire life, but never considered buying oil yourself to profit from this phenomenon. Although Bitcoin may not have the data or limited enough use to suggest seasonality, the point is that fixed supply assets always rise and fall dramatically based on changes of supply and demand and that is not controversial. Many people have a skeptical or negative view of bitcoin, and are validated when “bad news” comes out, but are confused about why the price keeps rising anyway. Many times, bad news constricts supply.