From being the most volatile asset in the world, cryptocurrency Bitcoin has suddenly turned into the most docile.
Over the past five months, it has confused investors by going pretty much nowhere, price-wise.
The Bitcoin price has been stuck around the $20,000 mark since early June, steadfastly refusing either to crash further or stage a meaningful recovery.
____________
Watch: what is Bitcoin and how did it start?
Investors do not expect the world’s number one cryptocurrency to flatline in this way. So, is Bitcoin dead or simply sleeping?
One year ago, on November 9, Bitcoin was on top of the world and trading at a record high of $66,938, having more than quadrupled in a year.
It has crashed this year along with almost everything else, as the war in Ukraine, post-coronavirus supply blockages and raging inflation destroy investor sentiment.
Bitcoin was a baby of the easy money era, during which central bankers and politicians lavished markets with endless monetary and fiscal stimulus to combat the global financial crisis and then Covid-19.
That era has come to an abrupt and painful…
