BTC’s Woes? 2018 Echoes!

by

A peculiar melancholy seems to have settled upon the digital realm, specifically regarding this… Bitcoin. Indeed, one observes with a certain detached amusement that the esteemed cryptocurrency is diligently striving to recreate the dismal performance of the year 2018. Four months, mark you, four months of uninterrupted decline – a feat not witnessed since that truly regrettable period.

Ah, 2018. A year forever etched in the memory of speculators and dreamers as the ‘crypto winter’, a season of such chilling austerity that the price of Bitcoin descended to a mere three thousand dollars. A pittance, one might say, considering the early pronouncements of limitless ascent.

The decline began, innocently enough, with a modest dip in October, a fleeting moment of readjustment after a brief and rather boastful climb to new altitudes. But November… November was when the bottom truly gave way, exhibiting a precipitous fall of nearly eighteen percent! A performance, I am reliably informed, surpassing even the unpleasantness following the misfortunes of that Mr. FTX in the previous year.

And as for the hoped-for “Santa Rally”? A whimsical notion, dashed to pieces, resulting in a further, albeit less dramatic, descent. The gentlemen of the market, it seems, were not in a particularly festive mood.

The new year has brought no solace, despite a fleeting moment of… shall we say, optimism? A fragile spark, quickly extinguished. If January concludes in the red, a four-month pattern is established, a somber echo of that distant, uncomfortable past. And in 2018, if you recall, the sequence extended to five months. A truly remarkable display of consistency in misfortune.

One begins to suspect, of course, that a ‘flush’ – a rather vulgar term, but descriptive nonetheless – is yet to come. A genuine repetition of 2018 would necessitate a rather violent and sudden correction, designed, no doubt, to relieve the stubborn of their illusions and their holdings.

Silver‘s Triumph

Meanwhile, a most curious development. Silver, that rather old-fashioned and dependable metal, is outperforming Bitcoin to an extent previously thought unimaginable. The divergence in fortunes is, one is assured, practically ‘historic’ – a word much abused these days, but perhaps fitting in this instance.

While Bitcoin languishes, having actually lost value by eleven percent, silver has experienced a surge – a remarkable 270 percent! The market capitalization of silver now exceeds that of Bitcoin by a factor of 3.5. One doesn’t suppose the alchemists of old could have predicted such a turn of events. Apparently, shiny, tangible things still hold a certain appeal, even in this age of digital abstraction. Quite a thought, isn’t it?

Read More

2026-01-26 11:02