Bitcoin has crashed four times. It has never stayed down.
Speculative bubbles collapse and stay collapsed. Tulip mania, the Mississippi Company, dot-com stocks — none recovered. Bitcoin has crashed more than 75% four times since 2011 and reached new all-time highs after every single one.
And it still came back.
Bitcoin’s 2011 crash was the most severe on record: down 93% from peak to trough. The network kept processing transactions through the entire drawdown. A new all-time high arrived approximately 13 months later. Every crash since has been less severe, and every recovery has followed.During the 2021 to 2022 price crash, Bitcoin’s hash rate (the total computing power securing the network) reached new all-time highs while the price was still down more than 50%. Infrastructure investment and speculation were moving in opposite directions. Assets with nothing underneath them do not behave this way.
Bitcoin has crashed four times. It has never stayed down.
Speculative bubbles collapse and stay collapsed. Tulip mania, the Mississippi Company, dot-com stocks — none recovered. Bitcoin has crashed more than 75% four times since 2011 and reached new all-time highs after every single one.
And it still came back.
Bitcoin’s 2011 crash was the most severe on record: down 93% from peak to trough. The network kept processing transactions through the entire drawdown. A new all-time high arrived approximately 13 months later. Every crash since has been less severe, and every recovery has followed.During the 2021 to 2022 price crash, Bitcoin’s hash rate (the total computing power securing the network) reached new all-time highs while the price was still down more than 50%. Infrastructure investment and speculation were moving in opposite directions. Assets with nothing underneath them do not behave this way.
Bitcoin has crashed four times. It has never stayed down.
Speculative bubbles collapse and stay collapsed. Tulip mania, the Mississippi Company, dot-com stocks — none recovered. Bitcoin has crashed more than 75% four times since 2011 and reached new all-time highs after every single one.
And it still came back.
Bitcoin’s 2011 crash was the most severe on record: down 93% from peak to trough. The network kept processing transactions through the entire drawdown. A new all-time high arrived approximately 13 months later. Every crash since has been less severe, and every recovery has followed.During the 2021 to 2022 price crash, Bitcoin’s hash rate (the total computing power securing the network) reached new all-time highs while the price was still down more than 50%. Infrastructure investment and speculation were moving in opposite directions. Assets with nothing underneath them do not behave this way.