According to data from CryptoCompare, on Wednesday (February 26), between 15:00 UTC and 16:40 UTC, the Bitcoin price fell below the psychologically important $9,000 level, and Bitcoin ended the day around $8,638.
At the time of writing (09:53 UTC on February 27), Bitcoin is doing better than the start of the day, but it is still below the $8,800 level:
Although the 7-day and 30-day return-on-investment (ROI) figures (vs USD) don't look good at -8.5% and -6.28% respectively, it is important during times of panic in the markets to keep an eye on longer timeframes as well.
In the case of Bitcoin, here are the ROI figures for some longer timefames:
- year-to-date (YTD): +22.15%
- 90-day: +13.00%
- one-year: +129.21% (price at that time: $3830)
- three-year: +638.35% (price at that time: $1188)
- five-year: +3363.52% (price at that time: $253)
- 10-year: +17731671% (price on 17 July 2010: $0.04951)
Here is the all-time price chart:
And perhaps this kind of chart is what Joseph Todaro, Co-Founder and Managing Partner of digital asset management firm Blocktown Capital, had in mind when he sent out a tweet (yesterday), which seemed to perfectly capture the feelings of many Bitcoin HODLers during the current meltdown of the crypto market:
5 years ago bitcoin was at $270
After a nearly 80% loss from the 2013 top
I didn't sell then
Not selling now https://t.co/AZ5ApnRVlL
— Joseph Todaro (@JosephTodaro_) February 26, 2020
Featured Image by "AaronJOlson"via Pixabay.com
