Re:Bitcoin is close to becoming worthless?
by wongarsu on Monday December 03, 2018 @08:02AM
(#18588407)
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.
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/