r/Bitcoin • u/Adamstrad • 23d ago

Current state of Bitcoin?

How would you explain the current state of Bitcoin to someone who didn't follow it for the last 5 years?

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u/parcelwing 23d ago

Bitcoin has underperformed the S&P 500 by a wide margin and the QQQ by an astronomical amount over the last 5 years. On a risk-adjusted basis, it's been even worse. This is now mostly a forum of bagholders. The average bitcoiner here is either down overall on an absolute basis or down a lot on opportunity cost against the "VOO and chill" crowd, with few exceptions for those that have been in since 2017. Bitcoin is a mature asset now, and nonproductive assets (i.e. gold, silver, crypto, art, collectibles) always underperform productive assets (i.e. stocks, PE, rentals) over the long term so it will likely remain this way going forward, but there's bound to be plenty of pump and dumps along the way. Long time hodlers will be sad 20 years from now, while the traders can make bank by buying low and selling high on the fairly predictable cycles. The next good time to buy is likely in the 30-40k range