To the crux of the matter in order to avoid countering random speculation and adding my own dose of it...
You're again oversimplifying things, what was 2021 then?
To oversimply things further for you, it was a bull market. Price went from around $29K to $69K and ended the year around $46K. Not a spectacular bull run by any means, even tested the yearly lows, but an uptrend that led to higher prices of +59%. Sometimes simplying things to whether price went up or down can actually be quite useful imo in a binary sense.
In this case, 2021 was an UP year, similar to the year before.
Price wise, sure. I actually couldn't agree more (genuinely). Bitcoin has never seen fake out style ATH, nor dropping below previous ATH made years before. Given the lack of blow off top I was someone who (wrongly) believed that price could hold around $30K based on the change of price action. But again, this isn't relevant to the issue of why Bitcoin has performed better in 2022 bear market than 2014 or 2018.
Gonna go out on a limb and say -86% is the worst bear market so far, but only based on that graphic.
Where did the -93% from $31 to $2 bear market go though? Apparently it didn't happen??
At least provide an accurate graphic of ATH to ATL next time please!
Right, ok. That's definitely a different answer to why Bitcoin hasn't performed better in 2022 than previous bear markets - I'll grant you that, literally 100%. Even certify that it's a reasonable argument compared to others I've heard! So basically anything over $10b drop (that at the time was 86%) is worse than -77%, because it repesents $800b? Like many others, I'll take it quite happily. At current market cap of around $450b, that means that every $10b drop is worse than the -86% drop - that as I explained isn't even the worst bear market anyway - but let's run with it for shits and giggles).
So, by your own argument and logic, every 2.2% correction or downtrend that Bitcoin has is worst than the -86% drop that happened in 2014/2015?
I rest my case. Still waiting for a relevant argument as to why high inflation is bad for Bitcoin
2014-2015 bear market (no high inflation): Bitcoin drops -83% from ATH after approx one year
2018-2019 bear market (no high inflation): Bitcoin drops -83% from ATH after approx one year
2022-2023 bear market (with high inflation): Bitcoin drops -77% from ATH after approx one year.
~
For clarity, I'm not questioning why Bitcoin has dropped -77% since ATH, as to me it seems obvious (in hindsight) that this is what Bitcoin does every 4 years and has done so for 12.
2018-2019 bear market (no high inflation): Bitcoin drops -83% from ATH after approx one year
2022-2023 bear market (with high inflation): Bitcoin drops -77% from ATH after approx one year.
~
For clarity, I'm not questioning why Bitcoin has dropped -77% since ATH, as to me it seems obvious (in hindsight) that this is what Bitcoin does every 4 years and has done so for 12.
You're again oversimplifying things, what was 2021 then?
To oversimply things further for you, it was a bull market. Price went from around $29K to $69K and ended the year around $46K. Not a spectacular bull run by any means, even tested the yearly lows, but an uptrend that led to higher prices of +59%. Sometimes simplying things to whether price went up or down can actually be quite useful imo in a binary sense.
In this case, 2021 was an UP year, similar to the year before.
Again making it sound like this was written in stone it had to go down ~70% because that's what bitcoin does, the trend has already been broken, the second rise over a previous ATH in less than a year, the drop below a previous ATH, you can choose to ignore it but are clear signs history has getting tired of repeating the same story.
Price wise, sure. I actually couldn't agree more (genuinely). Bitcoin has never seen fake out style ATH, nor dropping below previous ATH made years before. Given the lack of blow off top I was someone who (wrongly) believed that price could hold around $30K based on the change of price action. But again, this isn't relevant to the issue of why Bitcoin has performed better in 2022 bear market than 2014 or 2018.
Probably you're used to this:
Which one of them was worse?
Which one of them was worse?
Gonna go out on a limb and say -86% is the worst bear market so far, but only based on that graphic.
Where did the -93% from $31 to $2 bear market go though? Apparently it didn't happen??
At least provide an accurate graphic of ATH to ATL next time please!
And to combine this with your other question.
That 86% drop erased $10 billion of value, the current one erased $800 billion!
So... Did it really perform better? Mark Twain might have something to say about those statistics and percentages.
That 86% drop erased $10 billion of value, the current one erased $800 billion!
So...
Did it really perform better? Mark Twain might have something to say about those statistics and percentages.Right, ok. That's definitely a different answer to why Bitcoin hasn't performed better in 2022 than previous bear markets - I'll grant you that, literally 100%. Even certify that it's a reasonable argument compared to others I've heard! So basically anything over $10b drop (that at the time was 86%) is worse than -77%, because it repesents $800b? Like many others, I'll take it quite happily. At current market cap of around $450b, that means that every $10b drop is worse than the -86% drop - that as I explained isn't even the worst bear market anyway - but let's run with it for shits and giggles).
So, by your own argument and logic, every 2.2% correction or downtrend that Bitcoin has is worst than the -86% drop that happened in 2014/2015?
I rest my case. Still waiting for a relevant argument as to why high inflation is bad for Bitcoin