- It’s worth noting the cryptocurrency is still up about 127% on a year-to-date basis
Ding ding ding!! Whenever bitcoin tanks hard and fast, I always make it a point to keep things in perspective. I wasn't exactly an early adopter, but I've been around bitcoin since it was below $200--and dammit if I don't regret hoarding all those coins I bought from Coinbase and Circle a long time ago. I could have been rich-ish.
Not sure about the Bakkt thing. I know there was a lot of talk about it and probably some high expectations, but who knows. Bakkt could be contributing to the drop, but I just don't know. The timing was certainly right.
How certain are you to say that September is simply a bad month for cryptocurrency? I don't think so though.
They say things like that about the stock market, where toward the end of the year there's a lot of selling because investors want to write off losses on their taxes. I'm not so sure everything is as predictable as they say, however. If it was, there would be a lot of folks taking advantage of what's basically inside knowledge. I've come to believe that there's nothing certain with investing--not in the stock market and surely not in crypto.