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Bitcoin Is In A Bear Market: What's Bitcoin's Future?
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June 20, 2022
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June 20, 2022
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1:42Now PlayingBitcoin and the whole crypto space are in a bear market. Check out the video to learn why!
Welcome back to Bold TV with Ashton Cohen. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Many individuals are concerned since Bitcoin has declined more than 60% from its all-time high of $69,000.
And the value of other cryptocurrencies has plunged much further. In the realm of cryptocurrency, though, bear markets are nothing new. They've been around for a long time.
Let's look at previous bear markets to see if we can predict how long this one will endure.
In July 2011, the first big crypto bear market occurred, with Bitcoin dropping 93 percent to a low of $2. Bitcoin would take another year to recover from this.
In 2014, Bitcoin fell from $1100 to under $100 in a couple of months, triggering the second significant bear market. Bitcoin's price would have to climb back above $1,000 in two years.
The price of Bitcoin then went parabolic in January 2017, reaching a high of $19,000. However, by 2018, the entire market had tanked. Bitcoin fell by 85%, and crypto remained in a bear market until December 2020, when it finally crossed the $20,000 level.
Now we're in another bear market, and the crypto haters are proclaiming the death of Bitcoin and Crypto once more.
Crypto enthusiasts, on the other hand, continue to faith in the revolutionary technology's promise, claiming that this new crypto winter would eventually pave the way for yet another crypto spring.
So what do you think? Let us know in the comments below.
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