Does anybody noticed this? The bitcoin lost regular 85% of its value as a result of the market correction from $19,800 to $2,900 within the period of 12 months. Just like 2014 - where bitcoin went from $1,200 to $150, losing 85%. This happened to bitcoin before, does anyone here recalls 2013/2014 bitcoin correction?
Let's not get ahead of ourselves and assume that bitcoin just recovered and the bear period ended. The problem with assuming bitcoin is doing better has never worked well for us. Think about the initial run of bear market, the price dropped from 20 thousand dollars to 6 thousand dollars quite easily but during the summer we have seen bitcoin reach from 6 thousand to over 7 thousand dollars couple of times and it kept happening couple of times in a row and than stayed at around 6.5 thousand dollars for MONTHS.
Afterwards we had one bad sell off and than price went as low as 3200 dollars. Now that we recovered a bit it doesn't mean it will fall back again but it doesn't mean bear is over neither, we just simply don't know what will happen. I hope it will go up again however if it doesn't we shouldn't be shocked.