Bitcoin has recorded its largest monthly loss since June 2022, pushing it into a bear market as the euphoria over cryptocurrencies after Donald Trump’s election win faded.
The price of bitcoin fell by 17.5% in February, the biggest monthly drop since June 2022, and its eleventh worst month in the last decade, as risk-off sentiment gripped financial markets.
The world’s largest crypto asset ended February at about $84,252 (£67,010), having hit a three-month low of about $78,273 during trading on Friday.
Bitcoin has now dropped more than 20% below the record high of $109,071 set in mid-January, which puts it into a technical bear market.
…so?
Price discovery is gonna be a bitch.
I do not understand you. So many things have no inherent value but still cost arbitrarily much?
Sounds good, bro.
Yes you do understand them. You two are having the same exact flippant argument every single crypto evangelist and detractor have had every day for the past decade.
I do not know, since he never actually explained what his point is. Maybe, maybe not, we will never know, he just wants to say something and I move on.
Believing in “price discovery” is delusional even without the misogyny.