Grayscale: A Few Trading Days Drive Bitcoin's 225% Three-Year Gain
2026-10-07 14:23:45
CoinMeta data: According to the report by Zach Pandl, the lead researcher of Grayscale, on October 5th, Bitcoin rose by 225% over a three-year period ending September 23rd. However, this increase was mainly driven by a few trading days. The data shows that less than 0.5% of the trading days contributed to the majority of this gain. If these days were excluded, Bitcoin's cumulative return would be reduced by more than half. Even without these five best trading days, Bitcoin still had a 95% increase, which is far lower than the total 225% increase. In contrast, the NASDAQ 100 index had a return of 109% during the same period, and even after excluding 15 of the best trading days, it still maintained a 21% return. Pandl emphasizes that investors should maintain a stable market exposure rather than trying to seize market timing.
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Source:Cryptopolitan
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