The Chart That Might Get Bitcoin Bulls Sweating

The Chart That Might Get Bitcoin Bulls Sweating
Andrew Rummer

over 2 years ago1 min

After making an encouraging move higher last week, bitcoin has dropped back into the trading range it’s occupied since mid-May – hovering between $30,000 and $40,000. 

But while the OG cryptocurrency is down a painful 40% from its closing high in April, previous bear markets have been even harder.

The chart shows how bitcoin’s current slide from its April high (in pink) compares to the big bear markets that began in December 2017 (in blue) and November 2013 (in green). 

Some three months into the current slide, the three declines are looking remarkably similar – and bitcoin HODLers will be hoping history stops repeating soon. After all, by November 2014 bitcoin was trading 67% lower than a year earlier. And by December 2018 it had lost a massive 82%. Will bitcoin’s decline through April 2022 be equally disastrous?

Finimize

BECOME A SMARTER INVESTOR

All the daily investing news and insights you need in one subscription.

Disclaimer: These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment advisor.

/3 Your free quarterly content is about to expire. Uncover the biggest trends and opportunities. Subscribe now for 50%. Cancel anytime.

Finimize
© Finimize Ltd. 2023. 10328011. 280 Bishopsgate, London, EC2M 4AG