Visualizing The Worst Crashes In Bitcoin History

Compared to some of the panics during the early days of bitcoin, the pioneering cryptocurrency's 60%+ slide since the beginning of the year hardly register at all.

In the nine-year history of the cryptocurrency, which introduced the "revolutionary" blockchain technology to the world, osses have been as minimal as 30% and as severe as 87% during these Bitcoin panics. And compared with some of its previous dips - like the Mt. Gox-induced selloff in February 2014 that effectively ended the firs speculative bubble in the cryptocurrency after it officially went mainstream.

The latest correction took place between Dec.17 and Feb. 6, or 48 days, in which 70% of Bitcoin value was lost. However, if you look at the period between April 10, 2013 and April 12, 2013, Bitcoin lost an astounding 83% of its value over a three-day period. Talk about a panic! The point is that crashes have become relatively common throughout the cryptocurrency market, which is known for its swift volatility. It is important to turn to data and the facts in times of turmoil, rather than relying on one’s emotions.

Using the BitStamp Bitcoin-to-U.S.-Dollar (BTC/USD) pair, HowMuch measured the specific highs and lows of the past crashes dating back to January 2012. In the chart below, the arrow delineates the magnitude of the crash - while the number of days is listed below:

btc

As US stocks sold off again Friday, capping off the worst two-week selloff since 2009, bitcoin has climbed, as worries about a resurgence of inflation have rattled investors, making the inherently deflationary bitcoin that much more attractive.

Comments

lookslikecraptome Fri, 02/09/2018 - 22:48 Permalink

Ethel and Herb just got hammered in the stocks and indices and we were on the wrong side of the bond market. They are going into unregulated cryptos to get back on their feet. LOL LOL LOL . With the eight to nine thousand dollars they have left they are going to become a one coiner. It will work out fine. Eff the US, and international Markets. Long live the coin. Yeah, Ethel and Herb are lining up at Bitfinex right now.  They are hitting up their bank for a home equity loan even as we speak. And they are putting in a call to the Winklevoss lads right now and asking them to hook them up and bail them out. Who never loses in the big markets? The bears, the bulls and the hungriest of the wolves at the institutions. Herb and Ethel will be just fine with the wash traders and spoofers in cryptos. Hell Herb and Ethel's new exchange has no potential of ever getting hacked. The only ones that might go into cryptos are the bears, the bulls and the hungriest of wolves from wall street and the international markets. and there goes the libertine and anarchistic philosophy behind btc.   

zebra77a Making Merica … Sat, 02/10/2018 - 05:05 Permalink

Crypto -must- crash and shortly.  Reason is exchanges had to make a virtual futures crypto to represent slow moving blockchain true crypto. It was easier to take this generalized approach than try to get blockchain a to talk to blockchain b across hundreds of different technology derived crypto.

Of the 'true blockchain cryptos' if you download and examine the ccminer source code you will find ALL of then derive from about 20 families of cryptographic hash functions.

What exchanges sell you is futures, a representation of blockchain crypto, and completely worthless as it can be infinitely diluted  like everyone discovered with tether a very smartly crafted fine print agreement on an unregulated exchange..

a. user gives them fiat.

b. User trades fake futures crypto.

c. Exchange refunds them tether which they typed up in a script.

d. User now has forfeited any claim to their deposits.

e. User was done from beginning it is an unregulated exchange for a reason like the old forex scamsters and wolf of wall streets.

If IF you have the ability to withdraw from your offshore poker stars unregulated crypto exchange please do so immediately. which of them is honest and fake (Robin Hood free trading really!,) I would put down to 5%ish.

 

In reply to by Making Merica …

lookslikecraptome Coinista Sat, 02/10/2018 - 11:57 Permalink

I am not pro or con, truly, on cryptos, I get y people do not like the establishment. That said, z's response seems far more logical, scientific, and financially knowledgeable than yours. I hope life works for you. Truly. your response is typical of the BTC lovers. No real financial analysis as to y one should buy it.  

Buy stocks and the indices, loser, no stockers, no indexers on zh.  Tells you alot does in not??? Yeah u convinced the world with your thoughtful response. I hope it works for you. BTW, who said I do not trade the crypto market. Cheers

In reply to by Coinista

Blue Dog lookslikecraptome Sat, 02/10/2018 - 14:08 Permalink

The crypto naysayers are mostly engaging in FUD--fear, uncertainty, and doubt with a careful selection of "facts" that fit the point of view they're trying to create. That's especially true of people in the mainstream financial system who have a vested interest in keeping people in traditional investments.

Cryptos aren't a bubble. They're a totally new asset class. Sure, "anyone" can create a new crypto. There are new ones selling for 1/10,000 of a cent every day while Bitcoin still has a third of the total market. It makes as much sense as saying anyone can create their own Amazon company.

Bitcoin is a better fiat currency than any paper currency. We know how many Bitcoins there are. We have no idea how many dollars, euros, or yen have been created. We only know that the world's central banks will print at higher and higher rates until their currencies are dead. That alone makes them a better long term store of value.

The stock market is dangerously overvalued. It's pumped up by cheap money from the Fed and by direct buying of stocks by the Fed. It's only a matter of time before they crash the market and blame it all on Trump.

There's going to be panic buying of gold, silver, and cryptos. Gold and silver will be very difficult to get. There will be 100 buyers for every seller. Huge amounts of money will be flooding into cryptos. You can buy tiny fractions of Bitcoin so even if Bitcoin costs $1 million you could still buy it in dollar increments.

I'm a big believer in cryptos but I still have 90% of my money in physical PM's that I hold. Known silver deposits are only 10 times gold deposits while the gold price is 70 times the silver price. Silver is the best tangible investment in the world.

In reply to by lookslikecraptome

Hope Copy Dutti Sat, 02/10/2018 - 11:21 Permalink

ETH is as centralized at they come.. and last month, announced that ETH is going PoS, yup, it is that GAS issue.. kicking all the miners out.  There are a bunch of other centralized cruptos such as Ripple..  Why is it that Verge, Ripple and ETH all have been buying XMR?

In reply to by Dutti

Akoniti Rhetorical Sat, 02/10/2018 - 09:29 Permalink

OK, maybe Tether *is* a scam, maybe there isn't USD behind each USDT. Hard to say for certain, but I'll admit there is compelling circumstantial evidence to support the assertion.

 

However, USDT is only $2,229,490,288 market cap at this very moment. Considering *Doge* broke a billion at its recent peak, how is that a market crushing amount? Please note this is not a rhetorical or sarcastic question, I may well be missing something that makes that a more significant number than it seems.

In reply to by Rhetorical

lookslikecraptome Sabibaby Fri, 02/09/2018 - 23:26 Permalink

One might hope. The financial markets, including BTC, can kill you. Cheers. I do not trust brokers and no one should. Why would you trust advice from the crypto world. They want your money. And I want theirs. I am utilitarian. I trade. Cryptos have many holes in their application, their promises and their utility.  But so do the major institutions. 

In reply to by Sabibaby

HRClinton lookslikecraptome Fri, 02/09/2018 - 23:33 Permalink

Who knew that these "Tulips" had more lives than a cat?

Hint to hicktards: if your ("Tulip") model ain't working, then maybe you need a better model.

Reminds me of a joke...

Bubba goes to the doctor.

Bubba: "Doctor, every time I hit my head into the wall, I get a splitting headache."

Doctor: "Well, then stop hitting your head against the wall."

Bubba looks both confused and relieved.

In reply to by lookslikecraptome

lookslikecraptome maxblockm Sat, 02/10/2018 - 11:03 Permalink

Well if you bought to hold on Buffet's advice, or any wall street pumpers advice, in the last three months, where would u be today. Early coiners, no problem, you are locked up and likely ahead of the casino, maybe. If Ethel and Fred bought BTC at 17,000, it hit 19,000 and held all the way to 8,000 how would they feel about the hold strategy.  Early coiners took the shot, GOOD ON THEM. But.. But... But for the rest of the world. You bought coin at 7,000 before the run up, now what do u do. Hold an hope it runs straight up again?

In reply to by maxblockm

Giant lookslikecraptome Sat, 02/10/2018 - 12:12 Permalink

For an ordinary person, Bitcoin is the only currency one can use to get drugs and machine guns. Given that central banks are driving full speed towards hyper inflation(and many countrys include black markets in their GDP these days) and worse things always happen to unarmed citizens without means of barter, it is no wonder many countrys try to relieve citizens from empowering themselves from the ponzi scheme of central banks. West is even trying to bring inbreds from 3rd world to avoid hyperinflation, because money keeps rotating through economy and ''these people sure as heck wont save their free money''...

In reply to by lookslikecraptome

Implied Violins Fri, 02/09/2018 - 22:58 Permalink

Anyone who is still 100% invested in this crypto bullshit will pay the price for not investing in PM's very soon.  Why do people even bother with this shit after all the information that came out concerning the back doors the NSA put into computers over the last twenty years? 

Fucking IDIOTS eating shiny unicorn farts will starve, every fucking time.

Rhetorical Implied Violins Fri, 02/09/2018 - 23:17 Permalink

Because when you gotta bug out that shiny shit is heavy. And easily siezeable. Not so with BTC or any other crypto. Its the best cross border payment system on the planet. In 30minutes I can send 20million to my slant eyed friends across the pacific. How long would it take you? O and thats with BTC which is slow as shit. I can do it in about 10seconds with XLM.

 

I like gold and silver too but each has their place. Crypto is the place to be though I have both.

In reply to by Implied Violins

Endgame Napoleon Rhetorical Sat, 02/10/2018 - 08:42 Permalink

Cryptos are just interesting as an idea, but I do not understand why they fit in the survivalist/ internationalist mode. In a collapse, you are worried that your own government will seize your gold, but you have kumbaya-pure faith that a foreign government will not seize your crypto or shut down your crypto. What kind of rose-colored naïveté is that? The foreign country, especially any dictatorship...or any of them, really, will put their native citizens, the solvency of their institutions and their leaders’ back pockets ahead of your wallet. To survive there—assuming they even let you in during any rush of millions to evacuate their country in a collapse—you’d likely need enough spendable currency to get started and malleable social skills to fit in the foreign country. 

In reply to by Rhetorical

Jung Fri, 02/09/2018 - 23:24 Permalink

There is a lot of fake news around Bitcoin too: Samsung is planning on using it, so S-Korea, and also, China, are not forbidding Bitcoin at all (just cautious with energy where it concerns "mining cryptos", not Bitcoin which is already being used by both countries. Bitcoin will grow as people get fed up with the Banksters (esp. the privately owned Fed and Central Banks).

northern vigor Fri, 02/09/2018 - 23:35 Permalink

I don't care what the writer says...I bet losing $10,000 per bitcoin in 2018, still hurts worse than losing $4 per bitcoin in 2012. But you guys go ahead and believe whatever.