Home / Tech News / Coinbase Bundle performance tracker reveals the sad state of the crypto market

Coinbase Bundle performance tracker reveals the sad state of the crypto market

Bitcoin price isn't doing well today. Or this month. Or this year.
Bitcoin worth is not doing smartly nowadays. Or this month. Or this yr.

Symbol: Ulrich Baumgarten by the use of Getty Photographs

In case you purchased so much Bitcoin in 2011, you would be wealthy now. 

However should you purchased Bitcoin a yr in the past, or perhaps a month in the past…smartly, let’s simply say your portfolio could be a beautiful unhappy sight. 

Which is why it is humorous that cryptocurrency trade Coinbase nonetheless has this chart on its webpage. 

Ouch.

Ouch.

The chart, featured fairly prominently on Coinbase’s website and spotted lately via Dogecoin author Jackson Palmer, tracks the efficiency of an imaginary $100 funding in Coinbase Package, a type of fund that tracks the costs of the highest five cryptocurrencies via marketplace cap, indexed on Coinbase: Bitcoin, Ethereum, Bitcoin Money, Litecoin and Ethereum Vintage. 

Sadly, no longer this type of cash carried out really well within the final week, month or yr. 

That you must, alternatively, set the chart to “all,” which begins the timeline at Jan. four, 2013, and turns the imaginary $100 into $12,530.18. However Coinbase Package introduced in September, so there used to be no manner to shop for into it in 2013. 

After all, kudos to Coinbase for nonetheless having the braveness to stay that chart on-line. 

As for Palmer, his feedback from January, on the peak of the crypto bubble, really feel prescient now that the costs have plummeted. 

“Whilst it is nice to peer mainstream enthusiasm for cryptocurrency, I believe the prime valuations and inflated marketplace caps serve extra to distract from the true objective of those tasks than anything else,”  he wrote on the time. “My one hope is that once that does occur and other folks lose massive sums of cash, the negativity out there does not stifle technological innovation or hobby in virtual forex from the mainstream.”

Disclosure: The creator of this newsletter owns, or has lately owned, a lot of cryptocurrencies, together with BTC and ETH. 

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