As the coin market entered a bearish stance, Bitcoin, the leading crypto asset, has lost half its value compared to what it was worth in November last year when it reached its highest value yet.
Bitcoin Has Lost 50% of Its All-Time-High Value
The coin market has continued to bleed on Monday, January 24, with Bitcoin exchanging hands above $33,000. Even though proponents of the coin market still advise that those that have never invested in Bitcoin take advantage of the dip to buy the cryptocurrency, its present value is about half of what the cryptocurrency traded in November 2021 when it reached an ATH of $67,800.
Despite the optimism of die-hard advocates of the cryptocurrency, it is obvious that the hardest hit by the losses are the retail investors who were lured into the coin market by the high values recorded by Bitcoin and many other altcoins in 2021.
If you didn’t invest in #Bitcoin because you “missed it” at $35k, you’ve just been given another bite at the apple. Don’t make the same mistake twice.
— Cameron Winklevoss (@cameron) January 22, 2022
Bitcoin price is known to vacillate in cycles, with some years generally bearish and others bullish. However, the highest beneficiaries of the coin market are the whales who hold thousands of bitcoins and who seem to know when to dump them on the market and practically crash the price of the asset, and then buy it up at lower prices, thereby gaining higher control of the BTC in circulation.
Ethereum has not fared too well either, with the coin losing abou 40% of its value. It is presently trading at $2,256. In November, it traded at an ATH of $4,812.
BNB, which reached an all-time-high of $677 in May 2021, is presently trading at $346. While Solana has crashed to $85 from its November high of $258.
No one is certain if the market has reached its bottom at the moment or if the bears would still hold sway in the weeks ahead. Nevertheless, experienced investors always try to invest in the coin market during big dips such as this.
Bitcoin has officially fallen 50% since the all-time high of $69,000.
This is the 4th time that bitcoin has dropped 50% in the last 4 years.
— Pomp 🌪 (@APompliano) January 22, 2022