Bitcoin Overtakes US Stock Market Trading Hours, But Trails Entire Fiat History: In-Depth Examination
Recent reports indicate that Bitcoin trading has exceeded the trading hour count of the contemporary US fiat stock market, prompting discussions on its comparative longevity. While this development is notable, suggestions that Bitcoin has outstripped the entire narrative of US stock trading or global fiat markets are premature. Delving deeper into the subject provides a more nuanced understanding of the situation.
An analysis by Cory Bates has shown that Bitcoin has amassed more trading hours than the US fiat stock market. However, it is imperative to understand that this comparison does not encompass the complete saga of the US stock market or worldwide fiat trading endeavors. While Bitcoin’s trading span surpasses that of the US equity market post the Nixon Shock in 1971, symbolizing a financial landscape transformation, it falls short when considering the full history of the New York Stock Exchange, which took root in 1792.
Since its launch in 2009, Bitcoin has accumulated 123,774 active trading hours, in contrast to the 100,737 hours logged by the US equities market since 1971. Incorporating the establishment date of the NYSE, which accounts for roughly 380,509 active trading hours, significantly surpasses Bitcoin’s tally. Despite Bitcoin’s advantage of a 24/7 trading window, estimates indicate that it will take until approximately 2053 to overtake the total trading hours of the US stock market’s entire legacy.
While Bitcoin has made significant strides within a brief timeframe, it has yet to match the depth, liquidity, and economic impact of the US stock market. A comparison of Bitcoin’s trading hours with the global fiat market, actively trading since 1971, underscores that Bitcoin still has ground to cover before claiming superiority. The global forex markets, operational around 120 hours weekly, have amassed notably more trading hours than Bitcoin since the adoption of fiat systems.
In summary, despite surpassing the trading hours of the post-1971 US fiat equities market, Bitcoin still trails behind the collective trading hours of global fiat markets since the establishment of organized forex markets. Bitcoin’s growth is noteworthy, yet it has not overshadowed the extensive history of global fiat currency trading. Unless major forex markets expand their trading hours to encompass weekends, Bitcoin may eventually close in, although some brokerages already offer limited weekend trading for popular forex pairs.
