The historical bear market is now at its strongest

in LeoFinancelast year (edited)

The price of bitcoin has fallen at its fastest rate since 2018, according to analysts.
The first cryptocurrency's value dropped by 77.6% in the 424 days following its all-time high in November 2021.

image.png
Image Source

Since its decline in 2017–2018 and even in 2013–2014, the price of bitcoin fell by the most in 2022.

After reaching its peak of approximately $69.2 thousand in November 2021, the price of bitcoin plunged dramatically in the following 424 days. Bitcoin's price dropped by 85% in 2017–2018, from over $19,000 to around $3,000. It took 364 days, and 1080 days were needed for the recovery to reach a new peak.

Additionally, the current BTC drop has surpassed the 2013–2014 decline, which lasted 409 days, to become the longest. The 2013 - 2014 decline required 1,182 days to reach a new peak. Therefore, it is now 13 days, plus today's decline in the price of bitcoin, which made this current decline the longest in the currency's history.

On December 28 at 11:00 Nigerian time, the first cryptocurrency trades for $16.671 thousand. The asset has a $320,721,584,077 market capitalization, a $16,700,185,383 daily trading volume, and a market share of 40.10%.

image.png

This is @benie111
I would like to hear from you. Do you have contribution or comment? Do well to drop them in the comment section.

Posted Using LeoFinance Beta