Bitcoin To Lose 80% of Its Value in the Next 13 Months?
Bitcoin is the top-performing asset in the cryptocurrency market as its price has skyrocketed 80% in a year. It hit an all-time high of $122,838 mid-July, and its price is now at the $119,000 range on Monday. The leading cryptocurrency is bouncing back harder after every dip, making it a prime investment for traders. It is backed by strong institutional clients, and the influx of funds is keeping prices afloat. The surge brings risks of a crash, as Bitcoin usually loses 50% to 80% of its value between 18 months and 2 years whenever it reaches an all-time high. Also Read: Bitcoin Open Interest Reaches All-Time High: Should You Worry? The trend has occurred in 2011, 2013, 2017, and 2021, where Bitcoin lost 70% to 90% of its value after reaching an ATH. In 2011, BTC hit an all-time high of $32 and plunged 94% reaching a low of $2. The same happened in 2013, where BTC hit an ATH of $1,150 and plummeted 90% reaching a low of $150. The crash happened 13 months after the ATH, giving investors...