It was almost as surprising as seeing Bitcoin today at $22.350.Įvery time Bitcoin drops below $20K, all hell breaks loose. The big question is “How low can Bitcoin go”? It was surprising that on September 7th, Bitcoin found itself at $18,650. Many factors that affect stock prices, now also affect crypto prices. The correlation between crypto and the S&P 500 becomes a lot clearer as well.Thereafter, the price dropped to just under $19K in September. At first, Bitcoin crashed from $69K in November 2021 to $36K in late January 2022.When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. That was when he announced that Tesla no longer accepts crypto payments. Elon Musk, head of Tesla, caused a 51% drop in the value of BTC.In general, there was fear of more restrictions and regulations for the crypto market. China also shared another round of crypto restrictions.As a result, the crypto sentiment went sour. There was also the US Fed raising the interest rates.2021 saw the pandemic finding its way around the world.We are still suffering the consequences of the current day. There are a few reasons why Bitcoin started to crash towards the end of 2021. All this combined added up to Bitcoin crashing in 2018. JPMorgan, who since had made a 180-degree turnaround. On the other hand, institutions had negative reactions to Bitcoin. Did make it worse than the dot.com collapse, which stood at 78%. Then, in September, BTC was down 80% from the ATH. It should come as no surprise that altcoins followed suit. So, between January 6th and February 6th, Bitcoin tanked 65%. Early December 2018 saw a $3.500 price tag on Bitcoin. In early February 2018, Bitcoin struggled to stay above $8,000. This was the result of a buildup starting in April-May at just under 3K. In late December 2017, Bitcoin saw a new ATH of $18K. This crash is also known as the ‘Bitcoin crash’ or the ‘Great crypto crash’. Hacks - Continuous news of crypto hacks.In September 2021, crypto became illegal. China - They banned mining in June 2021.In July, Putin signed a law that banned the use of digital assets for payment of goods and services. Russia banning crypto - This was news in early 2022.This dragged down some CeFi companies like Celsius Network. Terra Luna - In May 2022 the Terra Luna network crashed.Amazon - In July 2021 they posted a job opening for a “digital currency and blockchain product lead”.Morgan Stanley - The first big bank in the US to start offering Bitcoin funds.El Salvador - One year ago, they made Bitcoin a legal tender.We can explain this volatility by positive and negative news. Furthermore, China also keeps cracking down on crypto.Īs a result, we saw a lot of volatility in the Bitcoin price range. This dragged down other crypto firms like the Celsius Network. These recent factors have three main causes:Īnother factor that played a role in 2022 was the Terra Luna/UST crash. These not only affect the crypto market, but also the economy. So, the current Bitcoin crashes are mostly caused by macro factors. That’s the range it seemed to have settled into since June. The price sees a sideways movement between $19K and $22K. Why Did Bitcoin Crash Again?īitcoin keeps dipping below $20,000 in recent weeks. So, let’s have a look at Bitcoin crashing. There were a few other infamous crashes as well. This keeps happening and every time it does, it’s supposed to be ‘The end of Bitcoin’, right?Įven now, during the current bear market, Bitcoin saw a few smaller crashes.

Recently, we came crashing down from the $69K ATH in November 2021, to $18K. Since Bitcoin came onto the scene, its price keeps going up and down.

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