$64,679.17
+4.59%
$3,092.53
+2.67%
$80.86
-1.26%
$29.61
+4.69%
$117.89
+1.79%
$0.00
-13.91%
$26.04
+1.44%
$0.15
+3.59%
$22.55
+6.63%
$0.00
+2.25%

Bitcoin Bear Markets: What, Why, When?


Bitcoin has had its fair share of bear markets in the past. Let’s briefly recap the most significant ones and see what we can learn from them.

The 2011-2012 Bear Market

The bitcoin price fell from $29 on June 8, 2011 to $2.10 on November 18, 2011, followed by months of sideways action:

first bear market

The first bear market, 2011-2012. Chart data source: CoinMetrics.io

The most painful bear market happened before most of us were even aware that something like bitcoin existed. More than ten years ago, the price of bitcoin reached almost $30 on the then-popular Mt. Gox exchange, only to be followed by a “stairway to hell” pattern that would take the price to $2.10 in a several months’ time.



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