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BTC was trading at nearly $20K just a few months ago. Now it is trading at $6K. How is going from $20K to $6K "only been rising"?

A lot of people are underwater when it comes to bitcoin.

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I mean, lets be real... bitcoin traded at 20k for about 5 minutes. The extreme spike in price was over a 2 week period. The 6k figure is roughly where bitcoin was trading in October 2017 - after a year long runup from ~$500. Anyone who bought just 10 months ago still had better returns than the stock market over the same period.

The spike in price also caused a spike in popularity...

It is ok. But keep in mind that in the overall graph BTC trend is upwards.

You only lost if you were actively trading on December.

It was going up because new speculators were jumping in. And those new speculators are all underwater.

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