The cold of the crypto winter may take some time, but we can easily warm our hearts by studying and learning from the past to adapt to the present for the best portfolio to meet our investment goals. Today we are going to learn about ‘Crypto Winter’.
Crypto Winters are nothing new. They have happened many times before, and are part of a market cycle. For crypto, it has happened three times: 2011, 2015 and 2018, with each lasting around 1-2 years. They usually happen when Bitcoin’s price drops sharply. As a result, the overall market declines as well. Let’s take a closer look at each period of the year and see what happened.
2011 and 2015
In 2011, Bitcoin’s highest price was around $30 but by the end of the year, it dropped to around $85, a 92% drop from its peak. At the end of 2013, the price of Bitcoin broke above $1,000 for the first time, but 2 years later, the price of Bitcoin fell below $200 again, a drop of more than 84% in 2 years.
In 2017, Bitcoin reached a price of up to $19,783, a record high that shocked everyone. and began to cause society to pay widespread attention to Bitcoin for the first time. However, after that in 2018, the price fell heavily again, to $5,500, a reduction of 80% from the peak, and the price has not moved for almost 2 years, at which time the not so strong computers died because they couldn’t stand the “cold” of the crypto world, until this period was called ‘Crypto Winter’
2022 or Crypto Winter
At the beginning of 2021, Bitcoin became a worldwide investment trend. This caused the price to rise to 700% from March 2020, resulting in the price gains of other coins, even the NFT market. This made even more people interested in crypto and attracted investors who were scared from the previous winter.
The current Bitcoin price has dropped more than 70% over the course of the year to $19,500, from its November 2021 peak at $68,789.63. No one knows when this crypto winter will stay or go. Let’s focus on what we can control, which is ourselves. Always do your own research and read easy to digest crypto knowledge here content.bitazza.com
Disclaimers: Cryptocurrency and digital token is highly risky; investors may lose all investment money and should study information carefully and make investments according to own risk profile. Past Performance does not guarantee future performance.