The Role of Rare Trading Days in Bitcoin's High Returns

Bitcoin's returns over the past three years have been around 225%, significantly outperforming the Nasdaq index at 109%. However, this statistic can be misleading if it does not account for the impact of individual key trading sessions.

Excluding a few of the most successful days from the calculation radically changes the picture of the asset's efficiency. Without the top five trading days, BTC's return drops to 95%, and without the top ten, it falls to 27%.

• Without the top 5 days, returns are +95%
• Without the top 10 days, returns are +27%
• Without the top 15 days, results become negative (-11%)

Less than half a percent of trading days accounted for a significant portion of Bitcoin's total price growth. This highlights the high concentration of profits in specific periods of market volatility.

Grayscale analysts note that predicting these best days is impossible. Waiting for the perfect entry moment may cost investors a significant portion of potential returns due to opportunity costs.