This Bitcoin Price Chart Makes the Crypto Market Crash Look a Lot Less Scary

  • The bitcoin price continues to plummet from its 2019 record near $14,000. Crypto investors are worried while critics are gloating.
  • But the cryptocurrency remains the highest performing asset in 2019.
  • And dollar cost averaging BTC investments even outperformed the same Dow exposure since bitcoin’s all time high price in 2017.

Bitcoin’s price is continuing its long slide since June. As the Dow set another all time record high Monday, bitcoin took another steep plunge below $7,000.

A second drop off Tuesday sunk bitcoin to $6,600.

Crypto analysts point out “dismal” trading volumes create a perfect storm for volatility. Lower volume makes its easier for whale-sized trades to rock the boat.

Chainalysis data suggest PlusToken scammers have recently sold off 25,000 BTC after a hasty exit from their crypto ponzi scheme.

But despite the latest setbacks (and there will undoubtedly be more), bitcoin fundamentally remains a trustworthy store of value for disciplined savers who have time to wait it out.

Dollar Cost Averaging Bitcoin Still Wins Big

With BTC’s characteristically wild price swings, it’s easy to think the sky is falling when the price swings downward. But that’s hardly the case.

The problem with fearful apprehensions about the bitcoin price (or gleeful obituaries like an NYU economist’s last month), is their timescale is too narrow.

The statement “bitcoin is down,” begs the question, “Since when?” And over its one decade-long existence, you don’t have to go back far to find that, “bitcoin is up.”

Bitcoin Outperforms the Dow, Gold

The value of a bitcoin portfolio since its last all time high (ATH) price for a Dollar Cost Averaging (DCA) investor. | Source: dcabtc.com

Dollar cost averaging is an investment strategy of spreading out investments at regular intervals. It’s a less risky way to invest in volatile securities.

DCA also makes for a good analytical tool by removing the arbitrariness of saying “bitcoin is up (or down)…

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