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The number of 5%, 10%, and 20% pullbacks that Bitcoin has experienced since 2020 is higher than that of gold and the S&P 500.
According to a report by Jinse Finance, data from River shows that since 2020, the frequency of Bitcoin's price fluctuations has been significantly higher than that of gold and the S&P 500 index. The data indicates that Bitcoin has experienced approximately 20 instances of a 5% fall, 13 instances of a 10% fall, and 8 instances of a 20% fall; in contrast, the number of pullbacks for gold and the S&P 500 is noticeably lower. It is worth noting that the price of Bitcoin at the beginning of 2020 was only $7,100, after which it experienced intense bull and bear cycles and market growth.