Bitcoin Slumps Toward Another ‘Crypto Winter’ – The Wall Street Journal

New bitcoin investors felt the thrill of the digital currency’s most recent epic rally. Now, they are experiencing the other side of that ride.

Bitcoin rose from $5,000 in March 2020 to nearly $64,000 by April 2021. It then plummeted to as low as $29,002; Friday it settled at $32,212.

As severe as the recent selloff is, though, it isn’t close to being the worst in the digital currency’s 12-year history.

Since 2012, bitcoin has endured 14 selloffs of more than 30%, six of more than 50%, and three of more than 80%, according to data from Visual Capitalist.

The deepest of those selloffs have been followed by long periods of flat trading. It’s a cycle that has come to be called “crypto winter.”