Bitcoin well on its way to lose 80% in value

It won’t stop for a while. Then we are talking about the decline of Bitcoin, where it seems that the value is going to decline even more.

Get in now or have we not reached the bottom yet? Experts agree that the bottom is still a long way off. Today, Bitcoin’s price hit a low not seen since mid-December 2020. A large number of crypto experts are debating whether the drop is the bottom of the market or whether the drop could lead to bigger losses.

Bitcoin value

The crypto economy has had a rough few weeks as the leading crypto asset Bitcoin (BTC) lost 35% in the past 14 days. A lot of money has evaporated recently. The last time the crypto was this low was in mid-December 2020. It is therefore not unique. Right now, the digital coin is 70% below the $69K all-time high (ATH), but Bitcoin has traditionally been known to fall about 80% or more against ATHs recorded in the past.

During the 2013 and 2017 bull runs, Bitcoin fell more than 80% lower than its previous price spikes. Coingecko.com founder Bobby Ong tweeted about Bitcoin’s fall from the past bull runs.

Continued decline

So we’re not there yet. Bobby reported the following. For example, after BTC’s price of about $1,127 per unit in 2013, BTC fell 82% to $200 per coin in 2015. The tweet shows that BTC jumped to $19,423 per unit in 2017, but in 2018 the price dropped to a low of $3,217, which was 83% below its high.

Of course, there is a lot of speculation and theories about whether or not the price of BTC will drop from here. An 80% decrease in BTC’s ATH in 2021 would be about $13,800 per unit. That could well come true.