If you take any time series asset of the price of any asset, and switch it to logarithmic, none of the drops will appear exceptional either. That’s what logarithmic scale does.

If you assume something grows exponentially (which is roughly how bitcoin behaves), then looking at a linear chart doesn't lead to useful conclusions.

Alternatively you can look at [1] which uses linear scale, but as you look at different parts of the timeline it rescales the chart. Sure, the recent drop looks dramatic. But it looks less dramatic than when in 2011 the price rose from $0.80 all the way to $30 and fell back to $2.20. Or the 2013 event where the price rose from $15 to $100 to $1000 in the span of a few months, only to crash down to a devastating $230.

1: https://99bitcoins.com/price-chart-history/

That's plain false.

log charts are misleading because by changing the base and the vertical axis you can make a huge decline look like a blip. but seeing 80% of your money gone is anything but a blip. also there is no guarantee bitcoin will continue to have exponential returns.

> also there is no guarantee bitcoin will continue to have exponential returns

which is true of any investment vehicle. You can only look at past performance and future market factors to make predictions, but even with the safest investment methods there is no guarantee.

stocks have century of exponential returns. bitcoin just a decade

As an aside I have never seen an ad before with options to “buy” or “get loan” as there was on that page

True, but I think this time around, people are realizing that no one is actually using for purposes other than speculation.

Some Venezuelan ppl might disagree with you :)

The article makes it pretty clear why this downturn is different, and the argument is pretty compelling.

In 2013 most people didn't know about bitcoin. A big part of the spike in 2017 was from people who never heard about it before. Today everyone knows about bitcoin.

People said the same thing in 2014

Not true! If you integrate the following chart you'll discover that most people learned about bitcoin end of 2017: https://trends.google.com/trends/explore?date=2007-11-07%202...