The figures highlight the differences between traditional and crypto markets, the latter having a degree of freedom of expression long absent from equities, commodities and other assets.
“Markets are forward looking. Crypto even more so bc it‘s not under anyone’s control. Its the only free market left in the world,” popular trader and analyst Pentoshi noted earlier this month.
For retail entities, in particular, a dollar-cost averaging strategy involving allocation into BTC, mitigating short-term volatility, thus looks all the more attractive.
Miners struggle against BTCFurther data from the largest publicly traded mining corporations supports the trend.
Related: Bitcoin nears $50K — Here are the BTC price levels to watch next
Versus their inception and even stock price at the time of their initial public offering, the vast majority are significantly lower in BTC terms.
Only BitFarms (BITF) is currently turning a profit as of December.
Nevertheless, the extent of progress among United States mining industry participants has been eye-opening, and as Cointelegraph reported, listing deals continue to flow in.
Texas, looking to become a mecca for mining, could see demand for power jump severalfold by next year.