When There's Blood in the Street

The family has been one of the richest in the world for over 200 years, so there's something to be said for following the advice of its members In the crypto space the question becomes, Is there enough blood in the streets now that it's the time to buy? I would argue no.

The data set used is all related to bitcoin drops of 80 percent or more.

That's because there is a very interesting aspect to historical BTC performance: There are no peak-to-valley drops between 57 percent and 82 percent over its trading history.

The average time to reach the prior peak is one year and four months, or one year from the bottom doubling.

The drop, while it does not look dramatic because of the tremendous jump shortly thereafter, was actually nearly 10 percent with an almost immediate recovery.

The total drop was also the largest drop in bitcoin history in percentage terms at 93.6 percent.

The total peak-to-valley drop, at 86.9 percent, remains the second-largest in bitcoin history.

We can see that there was a large drop from 6,000, but there has been nothing like a "Violent" bottom put in - in fact, the opposite is true.

Even if I'm correct that would only move this drop to second place of all time.

One further point I would like to make is to address the question which "Crypto folk" never ask, but which "Fiat folk" do: Can the Bitcoin price drop to zero?