It’s getting ugly out there. On Friday, Bitcoin’s latest swoon saw it fall to $82,000, marking a drop of around 32% from its all-time high of $126,000. That high came just last month, but it now feels like a distant memory as exchanges liquidate over-leveraged traders, and retail buyers curse the day a cousin gave them that tip about Bonk coin. So just how much lower will prices drop?
There’s a good chance that $82,000 is not the bottom. While prices have rallied in the last few days, with Bitcoin trading around $86,000 on Monday morning, it’s easy to envision scenarios where it drops to $70,000 or lower. A jolt of dour macro-economic news or a major scandal (more on that in a second), and we could be right back in Crypto Winter.
