The crypto economy has shed enormous value over the last three months and the crypto asset bitcoin is down more than 46% since its high. So far, it's been a total of 78 days.
It’s assumed the crypto industry’s maturity, its software applications, and the current interest in blockchain tech is a lot more robust than in 2017. Meanwhile, bitcoin already had a small bear run in between its 2021 April ATH and the mid-November ATH of 97 days.
All of the past downturns have been much longer than the current 78-day period.show that the current downturn is the second deepest drawdown in this halving cycle. “Corrections in 2017, and early-2021 were much shallower between 20% and 40%, whilst July 2021 reached a drawdown of -54%,” Glassnode wrote on its Telegram channel on January 23.
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