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It’s important to remember that every market, including cryptocurrency, goes through ups and downs. There has been a lot of volatility in the stock market during the last 100 years, which is particularly true for the stock market.
That last part encompasses the 2008 financial crisis as well as past recessions and the dot-com boom. In spite of this, the overall stock market has always rebounded. The crypto markets are no different in this respect.
Let’s look at the 2017 bull and bear markets as a great illustration of this topic. When 2017 began, the price of one Bitcoin was just $1,000. In December, Bitcoin achieved an all-time high of $20,000, culminating in a one-year return of more over 2,000 percent.
During this time span, several other cryptocurrencies had increases that were considerably greater. A protracted negative cycle began once Bitcoin’s price reached a high of $20,000, though. In this period, the value of Bitcoin plummeted to less than $3,000.
This is an 85 percent drop from its previous top of $20,000 in value. In the end, as we now know, Bitcoin and the rest of the crypto markets were able to recover. As it turned out, Bitcoin rose to new highs of approximately $69,000 after regaining its earlier top of $20,000 in late 2020.
From its low of $3,000 at the end of 2018, Bitcoin’s value has increased by almost 2,200%. As a result, individuals who are concerned about the future of cryptocurrency should know that market cycles are very natural.
Indeed, market cycles are not only typical but also a great chance to acquire high-quality crypto tokens at a big discount. As a result, experienced traders see downturn periods as a ‘buying season’ in the crypto market.
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