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Despite a massive sell-off this year, a former AQR Capital Management executive gave the performance of the cryptic 2018 market a "B + vote" in an editorial for Bloomberg on 20 December.
Aaron Brown, former Chief Risk Manager of AQR and author of risk management and gambling issues, pointed out that 80% of Bitcoin (BTC) compared to $ 20,000 a year ago reflected peaks and falls in previous years, specifically in 2011 and 2013.
Brown has outlined the fact that Bitcoin's decline this year was actually relatively mild compared to the rapid fall of its saw after its peak in 2011. The 2018 sell-off was however more marked than in 2013, he has observed the author.
Bitcoin declines after historical peaks in 2017, 2013 and 2011. Source: Bloomberg
The author noted that in 2011 Bitcoin hit the bottom in a year after reaching its peak and recovered in less than two years. The downward trend that followed the Bitcoin peak of about $ 1,150 in December 2013 required a longer period, which lasted four years before reaching its all-time high in December 2017.
The author also compared the 2018 crypto collapse with the US Dow Jones index in 2007, saying "[ad_2]Source link
