How Have Bear Markets in the past?

2022 has been the worst bear market for crypto with BTC losing almost 67% of its value. But despite the sharp decline in the prices of Bitcoin, people have not stopped accumulating digital gold for now. We shall see how the bear markets fared all this while;  Bear Market #1: 2011-2013 In 2021, BTC witnessed

2022 has been the worst bear market for crypto with BTC losing almost 67% of its value. But despite the sharp decline in the prices of Bitcoin, people have not stopped accumulating digital gold for now. We shall see how the bear markets fared all this while; 

Bear Market #1: 2011-2013

In 2021, BTC witnessed psychological resistance however, the token exploded to infinity reaching a healthy $32 mark. However, it was followed by a sharp price fall due to the Mt.Gox hack. At that time, BTC lost almost 99% of its value. This was the most terrific crash of all time for BTC. In a matter of a few days, the coin had lost 99% of its value. 

Bear Market #2: 2015-2017

In 2015, the price of BTC tanked to $100 in mid-April 2013. The rally didn’t stop there and reached $1000. It was soon followed by a bear market that pulled the prices to $700. It was the Chinese Central Bank which was responsible for the crackdown. Following that, BTC hit an all-time low of $170 in 2015. However, that period was followed by the ICO boom of 2017 where BTC recovered significantly to reach $1000 in 2017. Then a massive rally put the prices at $20,000. The ICO flash crash pulled the prices back to $3000. 

Bear Market #3: 2020-2022

Bears dominated the market till 2020; however, with the halving due and DeFi boom, the prices started soaring. It reached $63,000 and BTC became a $1 trillion asset economy. However, as concerns about ESG arose and celebrities started tweeting negatively about BTC, the market crashed. In November 2021, Bitcoin again experienced a mega rally to $69,000. However, at that time, US inflation rose to a record high. Hence, the Fed started the tapering program which had put the risky asset markets in the doldrums. Bitcoin had lost almost 76% of its value at the time of writing from its ATH. 

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