While tumbling in price, Bitcoin (BTC) has taken the vast majority of cryptocurrencies with it. Outside of Solana, AAVE and a few others weathering the storm, everything looks in the red.
The chart may be looking quite grim now – after a rough week that sent the price of 1 BTC plummeting from $59,434 USD to $43,974 USD (at the time of writing). Although Bitcoin price fall doesn’t seem to have come to a halt yet, this is not the first time it happens to BTC and in the past it has always recovered, eventually.
Routine Blow-Offs Of Around 30%
Below is a table showing that drastic drops in value are recurrent events.
| Date | BTC price % drop |
|---|---|
| January 2017 | 35% |
| March 2017 | 33% |
| May 2017 | 32% |
| July 2017 | 40% |
| September 2017 | 41% |
| November 2017 | 30% |
| December 2017 | 21% |
| December 2017 | 23% |
| December 2018 | 84% |
| January 2021 | 31% |
| February 2021 | 26% |
| May 2021 | 32% |
A drop in value almost as big as the current one took place as recently as January – and the market promptly pushed the price to a new all-time high not long after.
Why Has BTC Dipped?
There are factors that may have contributed to the dip
Of course, cryptocurrency trading remains high-risk, high-reward – and panic selling may not be the best move, as we see big corporations continue buying the dip.
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