Bitcoin has been a topic of financial discussion for years with negative and positive comments swinging both ways. A lot of the FUD has been followed by some of the comments online but an interesting statistic popped on Twitter showing that during its history, Bitcoin has been on a positive run nearly 99% of the time, continuing its recent bull run compared to the traditional Stock Markets.
Bitcoin’s Bull History
While it is considered to be a risky investment and many old-school investment gurus are advising the new-comers to be careful, Bitcoin has been in the green for most of its existence. In fact, since it was introduced (3869 days ago), the cryptocurrency has been profitable during 3817 of those days – or exactly 98.66%. As incredible as this number is, the Tweet continues with even more emphatic statement – “The only people that have actually lost money with bitcoin, have just been impatient.”
Hodling Bitcoin has been profitable for 3817 days out of a total of 3869 days. That’s 98.66% of bitcoin’s history.
Green shows where buying bitcoin has been profitable.
The only people that have actully lost money with bitcoin, have just been impatient. 😉 pic.twitter.com/kq82I6QTtR
— Rhythm (@Rhythmtrader) August 9, 2019
Some of the comments opposing this statistic warned the community not to get too excited about this fact, as there is not enough history behind Bitcoin to extract a stable historic conclusion. Bitcoin’s volatility has also been mentioned constantly by non-believers, balancing the scales, showing statistics that it has seen double digits up or down in just one day.
Bitcoin’s Recent Price Movements
With the most recent Stock Market bearish developments, Bitcoin’s positive price movements have been taken under strong consideration about its role in the financial world. The most recent surge has put Bitcoin on the map as a possible safe haven as it has been compared to another valuable hedge – gold. Moreover, Anthony ‘Pomp’ Pompliano has made the case that Bitcoin represents an uncorrelated asset which isn’t affected by the negative developments in the traditional markets.
Bitcoin is up 14.3% in the last 7 days bringing the price to $11,847.24 with a market cap north of $210.000.000 USD. With critical support levels are around $11,500 USD and a major resistance level at $12,500 USD, Bitcoin’s 2019 weekend moves may play a big role.