It’s been six months or roughly 180 days since bitcoin reached an all-time high at $69K per unit on November 10, 2021, and bitcoin’s USD value is down 45% from that point.
Usually, when BTC peaks, the price drops significantly during long-term bearish cycles and after a few specific tops, BTC has dropped more than 80% lower than the high.
For instance, in April 2013, BTC reached an all-time price high at $259 per unit but then it slid to $50 a unit, losing approximately 82.6% in value.
In fact, the last bitcoin bull run was longer and saw a much smaller percentage gain than previous all-time highs.
Following that cycle, between the April 10, 2013 top and the November 2013 peak, bitcoin gained 349.03%.
The lower jump higher could lead to a softer bitcoin bear market that’s much less drastic than an 80% or more plunge.
This means while the brunt of the current bear market may be softer in a sense, it may last a lot longer than previous bear cycles.
Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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