Bitcoin just showed us something
Well for one, it showed us that it is not dead.
Most of us know that but some were proclaiming it was dead and it would never go up again, false.
Secondly, we learned that bitcoin can still provide massive returns in a very short period of time.
(Source:
)https://twitter.com/sunnydecree/status/1188120038454321152
- sunnydecree
What other asset class can go up 40% in a day?
Penny stocks... and... crickets.
This was the largest single day move in bitcoin since 2011 by the way. Not even during the parabolic period of 2017 did prices go up that much that fast.
We learned that bitcoin is still very small in the grand scheme of things and represents one of the few asymmetric bets that people all over the world can participate in.