Re: Question Of Thought About Crypto Winter

Quote from: Blurr007 on April 17, 2023, 02:07:28 PM

Question of thought...

I made a research recently, i found out that Bitcoin reached nearly $19,500 in 2017 and later fell below $3,300 in 2018.
Source https://www.forbes.com/advisor/investing/cryptocurrency/what-is-crypto-winter/

1) would've other crypto's survived during that time ?.
2) Why do Bitcoin survive during crypto winter and other crypto's finds it difficult to cope ?.

Since there weren't as many cryptocurrencies back in 2018 as there are now, most of them survived the crash because there weren't this many shitcoins and useless projects at that time. Most of the coins that have been on the top along with Bitcoin survived though falling badly in price since Bitcoin had a very severe crash.

About why Bitcoin survives the crashes, it's mostly because there is a lot of money invested in it and as soon as it falls lower in value, there is higher buying pressure which basically backs it up and it manages to recover slowly from the crash every time.