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These Bitcoin Charts Are Going Unnoticed
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These Bitcoin Charts Are Going Unnoticed

Feelings around Bitcoin have been especially negative lately but it’s possible that the recent negativity overshadows some good news for the cryptocurrency. In this article, we’ll dive in to three Bitcoin charts that give a better summary of its overall performance than the day to day numbers that we all obsess over. The long view
It’s true, if you take a look at the performance of Bitcoin over the last month or so, then the numbers don’t look great. Look back to the start of 2017 however and things are a little different. Bitcoin no longer looks like the kind of get rich quick scheme that some investors hoped it might be a few months ago. On the other hand, it’s significantly outperformed stocks, currencies and most other investments over the last two years. The picture has changed rapidly and there’s no reason to suppose it won’t do so again. Trading volume Taking a look at this chart, it’s clear that Bitcoin’s volatility has increased as the trading volume has shot up. Put simply, more interest has turned it into a riskier investment that moves around much more than it once did. If interest in Bitcoin starts to dissipate once more then there is every chance that it will become a stabler investment. Value may continue to increase due to the built in scarcity, but it is unlikely to move around as much as it has over the last year or so. Log scale This graph is particularly interesting. Looked at in this form, Bitcoin’s late 2017 rally is simply a blip that has now unwound. Bitcoin has returned to its normal growth pattern when looked at in log scale. This again backs up the view that the late 2017 rally was a market bubble like any other and didn’t tell us anything about the overall state of Bitcoin. Sometimes in the world of investing, it’s good to step back from the consensus and take another view. Hopefully this article has helped you to do that. Source: https://www.youtube.com/watch?v=fqPPTgqHu1s

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Robert Johnson

Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.

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