Bitcoin Down Over 70%!

Bitcoin/crypto is down over 70%? Historically has this been a good buying opportunity? I checked Bitcoin using the Robinhood app and saw a scary looking chart. This made me want to see what Bitcoin has done historically after a 70% drop or more.

It is interesting to note that the worst drawdown over this period was 84.86%. Currently Bitcoin is down 75.12%. This means for Bitcoin to match or exceed its worst drawdown previously it would still need to drop 39.1% or more from its current price. I think this is important to note. Should it drop more this still wouldn’t be unusual. It would be wise to be mentally prepared for something of that nature.

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