It's fascinating to see just how long Bitcoin spent under $1,000; 2,360 days or 73% of the time that has past since mid-August 2010, which marks a few weeks after Bitcoin's first official pump (from $0.008 to $0.08, what a fucking pump).
Here's an interesting tweet from our friend Yassine Elmandjra that flew down my deck yesterday. A chart displaying the frequency of price ranges by $1,000 increments. It's fascinating to see just how long Bitcoin spent under $1,000; 2,360 days or 73% of the time that has past since mid-August 2010, which marks a few weeks after Bitcoin's first official pump (from $0.008 to $0.08, what a fucking pump). If we go all the way back to the Genesis block, Bitcoin has been trading below $1,000 for 79% of its total life to date.
Alternatively, the price has only ever been above $10,000 for 112 days. Incredible perspective if you ask Uncle Marty. It's crazy to think of the mania that ensued in 2017. The facing ripping rally and crash represents less than 3% of Bitcoin's total existence up to this point. Let's pour some out for the poor souls who FOMO'd in during the price run-up from the end of November through the end of December and the subsequent crash below $10,000 that occurred slowly through March of 2018. We are still in the very early days of this revolution, freaks.
If anything, this chart should help people realize how quickly and rapidly Bitcoin price movements can be and how ephemeral the blow off tops are. Timing these markets is an arduous task for anyone, let alone your average retail investor who is only paying half-attention to this space. That's why, if you are educated about Bitcoin, its potential, and the gravity of the technology, your best bet is dollar cost averaging in. Don't try to time lows and take advantage of the relatively low volatile periods to consistent stack sats.
The price spent less than 10-days in the $13k, $14k, $15k, $17k, $18k, $19k, and $20k ranges. During those periods people on the sidelines were taking out second mortgages to go all in on a rally that would soon end very abruptly. Avoid this scenario and start consistently #stackingsats if you are educated about Bitcoin and think it may make sense to get some in case it catches on.
Night Moves put on a dope show last night. I am very happy to have seen them live.