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Cryptocurrencies: 4547
Markets: 60002
Market Cap: $908,721,705,796     
24h Vol: $64,937,721,867
Seeking Alpha 2021-12-06 16:37:42

Bitcoin: Be Prepared For A Major Drop

Bitcoin experienced a sudden crash on Saturday, reaching a drawdown of 38% compared with its previous all-time high.In this article, I will look at previous Bitcoin crashes and try to analyze what we could expect if this correction pulls through.Previous deep bear markets have had an average drawdown of almost 84% and lasted an average of about 3 years.The long-term prospects of cryptocurrencies are bright, but the crypto market can be a brutal one, and investors should be psychologically and financially prepared for this.

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