Bitcoin has further to fall before it finds a base to stage any recovery, if the depth of previous routs is any guide. While the crypto currency’s near 75% plunge from its 2021 high has already sent shock waves through markets, it would need to fall below $13,000 to begin matching the magnitude of previous drawbacks. How long it could take to get there is an open question: the current slump is longer than the average of past cases but still seven weeks shy of the tumble that ended in 2015.
(Bloomberg) — Bitcoin has further to fall before it finds a base to stage any recovery, if the depth of previous routs is any guide. While the crypto currency’s near 75% plunge from its 2021 high has already sent shock waves through markets, it would need to fall below $13,000 to begin matching the magnitude of previous drawbacks. How long it could take to get there is an open question: the current slump is longer than the average of past cases but still seven weeks shy of the tumble that ended in 2015.
(Corrects year to 2015 in last sentence.)
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