So Is This The End Of Bitcoin?

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Nearly $115 billion of Bitcoin’s market capitalisation is gone. The first quarter of 2018 is already regarded as the worst in BTC’s history. Between December 2017 and February 2018 the price fell by 70% from the high of $19666 to the low of $5920.

The End of Days?

The mood on various crypto-related fanpages is apocalyptic. But according to the howmuch.net – this is nothing new.

“Once bullish ‘hodlers’ and committed individuals now voice their concerns and fears that this crash indicates that the cryptocurrency market may be faced with a new normal. While the latest crash has been painful, it is best to step back and assess the current state of Bitcoin relative to its past. Bitcoin has ‘crashed’ many times over the past several years, but how does this latest downturn compare to past steep sell offs?”

So how does the current drop compare to the previous ones? The howmuch.net compiled a nice list:

1. January 12, 2012 – January 27, 2012, -30%, 16 Days

2. August 17, 2012 – August 19, 2012, -57%, 3 Days

3. March 6, 2013 – March 7, 2013, -33%. 2 Days

4. March 21, 2013 – March 23, 2013, -35%, 3 Days

5. April 10, 2013 – April 12, 2013, -83%, 3 Days

6. November 19, 2013 – November 19, 2013, -50%, 1 Day

7. November 30, 2013 – January 14, 2015, -87%, 411 Days

8. March 10, 2017 – March 25, 2017, -34%, 16 Days

9. May 25, 2017 – May 27, 2017, -33%, 3 Day

10. June 12, 2017 – July 16, 2017, -39%, 35 Days

11. September 2, 2017 – September 15, 2017, -40%, 14 Days

12. November 8, 2017 – November 12, 2017, -30%, 5 Days

13. December 17, 2017 – February 6, 2018, -70%, 48 Days

So it seems that the latest correction isn’t the largest one. It isn’t the longest one either.

The situation may actually work out well for the true believers, as Erik Voorhees pointed out:

So lets stay optimistic. And remember that every cloud has a silver lining.

HODL.

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