Bitcoin has never suffered such a blow before this year
Drop almost 10 percent in a few hours. The decline is new for Bitcoin in May 2022. But not new in itself.
Cryptocurrency is known for volatility. And that is still the case with the altcoins. Bitcoin has matured and has increasingly behaved like a stock over the years. The extreme volatility is a bit off. While we shouldn’t be surprised by such a significant drop as yesterday.
Bitcoin decline in May 2022
The most famous cryptocurrency in the world fell by just under 10 percent. From a high of almost $40,000 to a dip below $36,000 in value on Coindesk. We’ve never really seen losing so much value in a few hours this year on this scale.
Larger declines were more common, but often spread out over a few days or weeks. For example, in January. When the price dropped from 46,000 to 35,000 dollars in a few weeks.
If you draw the comparisons with stocks, Bitcoin has shown little crazy. US equities, in particular, showed bizarre things at times, by equity terms. Netflix, for example, that plummets more than 20 percent in no time.
In short, what Bitcoin is now showing is not that crazy at all. The seasoned investor will therefore shrug.
