The Extreme Anomaly Of Bitcoin: Is It Sustainable?
Candy Matheson | Oct 22, 2017 12:20AM ET
After plunging to 3000 six weeks ago, Bitcoin snapped back and reached 6000+ on Friday (a 100% increase during that time), as shown on the following Monthly chart, and, as noted in my last post (originally written on September 4th and updated periodically, with comments and charts, to, and including, today).
What strikes me as extraordinary is to see the percentage gained Year-to-Date of Bitcoin (527.07%) compared to the U.S. Major Indices, as shown on the following graph.
I find this noteworthy and very unusual, to say the least, inasmuch as it's not "backed up by" or "pegged to" anything.
And, here's a look at the all-time percentage gains for Bitcoin, since it was first listed on the NYSE on May 19, 2015...2417.70%...
Is this an unsustainable parabolic bubble in the making? We'll see...
If Satoshi Nakamoto, the man believed to have created and implemented Bitcoin, still holds 1,000,000 Bitcoin, he'd be $6 Billion richer today.
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