BTC trading strategy

15 Des 2023

It's no surprise that Bitcoin traded for more than $44,000 this week, more than double its price on March 13. In 2014, Crypto took an average of about 9 months and 21 days to double, this time has shortened to 28 days at present.
Surprisingly, Bitcoin has doubled without falling below its lowest level since March 13. On average, Bitcoin drops 27% between x2 values (for example, if the initial price was $1,000, Bitcoin would drop to $730 before being x2 to $2,000). Historically Bitcoin has dropped by 83% ($170 before reaching $2,000).
This is mostly old news as volatility has gradually decreased since the Covid outbreak. Over the past two years, the average annual volatility has been 50%, not much higher than big tech stocks. Furthermore, this relative calm comes during a period of major scandals, bankruptcies, prosecutions, and legal struggles in the cryptocurrency sector.