A recent article in the Wall Street Journal critiqued Bitcoin for having an unusually volatile quarter, with prices ranging from peak levels at $5,000 all the way down to $3,000 lows. Such volatility is unprecedented, according to the author who said:
“Bitcoin more than doubled in price, then plunged by a third in what was a hectic three-month period even by the virtual currency’s Wild West standards.”
Not uncommon at all
Bitcoin did indeed have a volatile quarter, but not uncommonly so. Rather, the increase in price was followed by a consolidation period coupled with negative news being released regarding China. One observant tweet pointed out that the volatility in Bitcoin price was not, in fact, uncommon.
Even by bitcoin standards, the third quarter was pretty lit. https://www.wsj.com/articles/bitcoin-bounces-around-wildly-in-record-setting-quarter-1506769201 … via @WSJ
June 2016: 41% dip
Jan 2017: 37% dip
Mar: 31% dip
May: 33% dip
Jun: 39% dip
Aug: 20% dip
Sep: 37% dip
Not that uncommon actually.
