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International Business Times
International Business Times
Business
Marvie Basilan

HISTORICAL FACTS: Take a chill pill the bitcoin january dump is historically normal analyst says - Caught on Camera

Bitcoin Crypto Cryptocurrency CoinGecko
Bitcoin has been down in recent days, but an analyst said it's a historically normal occurrence. (Credit: IBTimes US)

KEY POINTS

  • Bitcoin dumped from $1,185 to $800 in January 2017, after the 2016 halving
  • The coin also plunged from $42,000 to $28,000 in January 2021, after the 2020 halving
  • Axel Bitblaze expects a slow $BTC uptick in the coming weeks, followed by an altcoin rally

Bitcoin has been on a wild downturn in the past week following a stellar November and a relatively good December, and while many crypto users are panicking over the "dump," an analyst explained that there's not much to be worried about.

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