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January 10, 2023

Looking Back At Past Bear Markets

Ah, the joys of crypto investing. Just when you think you've made it to the top of the mountain, the market takes a dump and you're back to square one. But let's be real, what's a good rollercoaster ride without a few dips, right? In this post, we're taking a look at some of the past crypto bear markets and how they inevitably led to some epic bounce backs.

2011 & 2012 - Price Sustainability

First up, the bear market of 2011 and 2012. This bear market was brought on by some serious price increases in late 2010 and early 2011 that just couldn't be sustained. Bitcoin hit an all-time high of around $32 per coin before crashing down to around $2. It was a tough time for investors, but the market eventually picked itself up and dusted itself off. By 2012 and 2013, the price of Bitcoin had started to climb again, thanks in part to the growing understanding of the potential uses and benefits of blockchain technology, and increased institutional interest in the space.

2013 & 2014 - Mt. Gox

Next, we have the Mt. Gox incident of 2013 and 2014. For those who missed it, Mt. Gox was a major Bitcoin exchange that unfortunately had 850,000 bitcoin disappear. This sent the crypto community into a frenzy and led to a sharp drop in the value of digital assets. But like a phoenix rising from the ashes, the market eventually began to recover, with the price of Bitcoin reaching an all-time high of $1,242 in December 2013.

2018 - Hype & FOMO

Let's not the bear market from 2018, caused by the hype and FOMO of 2017, as well as regulatory concerns and concerns over the sustainability of the price increase. The market reached its lowest point in December 2018, with the price of Bitcoin falling to around $3,200. But like a bad hangover, this bear market eventually passed and the market began to recover in late 2019.

2021 & 2022 - Terra-Luna, FTX, & Genesis

Lastly, we have the most recent bear market, the one we're in as we speak. Followed by a peak of a new all-time-high back in November 2021 at $64.4K, and challenged by the likes of Terra-Luna, FTX, & Genesis. We’ll just have to wait and see how the market will bounce back from here on out.

The thing is, each bear market is different and caused by a unique set of circumstances. But what stays consistent is that prices have always recovered, as new investors enter the market and technology continues to advance. And while crypto investing can be a wild ride, history has shown us that the market will always bounce back.

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