If Bitcoin Is So Valuable, Why Is It Down So Much This Year?

If a no-coiner friend or relative asked you this question, how would you answer?

It is worth bearing in mind that so far this year, the Bitcoin price (trading around $16,430 as of 8:50 a.m. UTC on 25 November 2022), which reached its all-time high of around $69,044 on 10 November 2022, is down roughly 65% in the year-to-date period.

On Thursday (22 November 2022), pseudonymous crypto market commentator “Satoshi Stacker” (@StackerSatoshi) asked his over 177K Twitter followers how they would answer this question if their dad, for example, asked this question at the Thanksgiving dinner:

Your dad at the dinner: “So if #Bitcoin is so valuable, then why has it dropped 70% this year?” 😈


— Satoshi Stacker (@StackerSatoshi) November 24, 2022

Here are a few of the best replies: