![]() It was almost as surprising as seeing Bitcoin today at $22.350.Įvery time Bitcoin drops below $20K, all hell breaks loose. The big question is “How low can Bitcoin go”? It was surprising that on September 7th, Bitcoin found itself at $18,650. Many factors that affect stock prices, now also affect crypto prices. The correlation between crypto and the S&P 500 becomes a lot clearer as well.Thereafter, the price dropped to just under $19K in September. At first, Bitcoin crashed from $69K in November 2021 to $36K in late January 2022.When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. That was when he announced that Tesla no longer accepts crypto payments. Elon Musk, head of Tesla, caused a 51% drop in the value of BTC.In general, there was fear of more restrictions and regulations for the crypto market. China also shared another round of crypto restrictions.As a result, the crypto sentiment went sour. There was also the US Fed raising the interest rates.2021 saw the pandemic finding its way around the world.We are still suffering the consequences of the current day. There are a few reasons why Bitcoin started to crash towards the end of 2021. All this combined added up to Bitcoin crashing in 2018. JPMorgan, who since had made a 180-degree turnaround. On the other hand, institutions had negative reactions to Bitcoin. Did make it worse than the dot.com collapse, which stood at 78%. Then, in September, BTC was down 80% from the ATH. ![]() It should come as no surprise that altcoins followed suit. So, between January 6th and February 6th, Bitcoin tanked 65%. Early December 2018 saw a $3.500 price tag on Bitcoin. In early February 2018, Bitcoin struggled to stay above $8,000. This was the result of a buildup starting in April-May at just under 3K. In late December 2017, Bitcoin saw a new ATH of $18K. This crash is also known as the ‘Bitcoin crash’ or the ‘Great crypto crash’.
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