Absolutely, it is common for both Bitcoin and altscoin to drop to the extent of 80% or even more during the bearish market period, that generally persists for two years or longer. Howeve, it should be kept in mind that not all alts coins recover their price when markets recovers and enters in bullish phase, usually following the halving event with exception of Bitcoin which historically makes new all time high (ATH) during the bullish phase. DYOR
Bitcoin dropped from $69k down to $15k during the very bearish market and we can see how far it is has recovered unlike many Altcoins who go into DIP and don't recover not even about setting another ATH just a matter of going up to about a 50% increase so investors will not go in total loss yet they are incapacitated to make that happen.