Bitcoin has seen better days. In October, the world’s largest cryptocurrency plummeted—and it hasn’t recovered, trading at around half of its all-time high of $126,000. Despite brief glimmers of upward momentum, the token continues to tread water amid a deep bear market.
The last time Bitcoin experienced such a prolonged drop was in 2022, when several of crypto’s largest players—including the crypto exchange FTX—collapsed and brought the digital assets market down with them. That period saw Bitcoin plunge 76% from its then–all-time high in 2021 to $16,000 in 2022.
