Bitcoin has seen a lot of volatility in its short history. Prices have soared to nearly $20,000 per coin and then plummeted to around $6,000 within the span of just a few months. While the long-term trend seems to be one of steady growth, there are periodic bear markets that can cause prices to drop sharply.
In fact, data from previous bear markets suggests that Bitcoin could potentially fall as low as $10,000 per coin if the current cycle plays out in a similar way. Of course, it’s impossible to predict the future of Bitcoin with 100% accuracy. However, understanding past market cycles can give us a better sense of what to expect in the months ahead.