BTC Has Become More Reliable and Steady Over the Last Decade

The price of the crypto market leader, Bitcoin (BTC), is slightly down over the last 24 hours at press time. According to the crypto market tracker, CoinMarketCap, the price of BTC has dropped 0.29%. This has brought its price down to $17,158.10.

BTC daily chart (Source: CoinMarketCap)

The daily chart for BTC shows that BTC’s price has consolidated above the 9-day Exponential Moving Average (EMA) line for the last week.

In terms of trading volume, BTC has seen a drop in the level of trading volume over the last 24 hours as well. Currently, the daily trading volume for BTC stands at $18,209,205,774, which is 12.83% lower than what it was yesterday. The coin’s price has, however, strengthened against Ethereum (ETH) by 0.74%.

Despite the price of BTC dropping over the last 24 hours, a recent tweet made by Documenting Bitcoin (@DocumentingBTC) attests to the long-term gradual increase in BTC’s stability and reliability as an investment.

In the tweet made this morning, Documenting Bitcoin stated that “more than a decade of bitcoin data shows a steady growth in its stability and reliability.”

BTC drawdown in relation to price (Source: Glassnode)

As can be seen by the chart shared in the tweet, the percentage drawdown of BTC’s price below its realized price has steadily increased over the last decade. In 2012, BTC’s % drawdown below its price was -60.86%.

It then lowered to -44.61% between 2015 and 2016, then -29.62% between 2019 and 2020. Thereafter, a higher low was printed at -24% in this bear market.

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