|
[Pexels](https://www.pexels.com/photo/close-up-of-a-bitcoin-coin-lying-on-a-screen-displaying-a-stock-market-chart-5980888/)|
|-----------|
Hello friends, am happy to be back in your faces once again, of course, I came with another beautiful discussion. In my previous post we talked about crypto bull run and it historical timeline. Today I deemed it fit to discuss crypto winter and it historical timeline.
As we delve into this discussion you will definitely be enlightened. Just tag along as I take you on this ride. I really do hope you enjoy this ride with me.
|**Introduction**|
|-----------|
The crypto market as we know operate in cycles, there are times the market will be very bullish and you can see the greens everywhere starting from the mother coin to other alt coin, I mean alternative coin and there are other time it's as though the market is bleeding.
All you see at that period are red and daily decline. This doesn't mean people do not profit in it, they do both in the bullish and the bearish season, just that more and more investors exit the market because of pessimism.
Today we would take a look at what crypto winter is and it historical timelines since the advent of cryptocurrency. Of course we would be using the mother coin as our case study. I mean Bitcoin.
|**What is crypto Winter**|
|-----------|
Crypto winter which is fondly referred to as **crypto bear season** is a phase in the market characterized with pessimism and lack of confidence on the path of investors even as the market faces a steady and continuous decline in price/value of asset.
At this point so many investors react to the situation by selling off. More and more investors sell off in a bid to savage their loss. This automatically means their exiting their position and on the other hand more and more investors lose confidence in the market, this make buying pressure less thereby making selling pressure more stronger.
|[frepik](https://www.pexels.com/photo/woman-looking-at-cryptocurrency-charts-on-her-laptop-14751157/)|
|-----------|
On the long run we then have a depressed market which seem to send bad vibes and energy to the mainstream media as you find only few folks talking about it or even think about investing in it. Even on social media, you will find few discussion here and there about it due to the fact that the market is facing it winter season which would definitely linger for a long time.
|**Historical Timelines of Crypto Bear Season.**|
|-----------|
In this section we would be traveling back in time checking different timelines of the Crypto winter season.
• **2011- Bear Market**
The First crypto winter or bear market to be recorded was in 2011 which spanned through till November of the same year. This winter came just few years after Cryptocurrency came into existence in 2008 to be precise. The Bitcoin network came into the scene in 2009 with the first every mined Bitcoin in January 3.
According to record, the price of Bitcoin declined greatly at about 93% decline.
Well, Bitcoin wasn't as weighty as it is today neither was it as known as it is today but then 93% decline is enough to end it existence as it still in it infancy stage...but guess what, we still have Bitcoin and other alt coin today. So what actually led to the decline? You wanna know?...smiles
Well a popular exchange (Mt. Gox) which managed about 70% of the Bitcoin transaction was successful hacked on June 19, 2011 around the same period Bitcoin hit it all-time high of $42.7. funny right? Who would have known it would hit $60k+ today.
Anyway, this attack on Mt.Gox led to the decline in the price of Bitcoin that it crashed greatly arriving at a ridiculous price of $2.91. Of course you know how difficult it would be then for people to trust cryptocurrency as it has suffered huge loss even at inception but somehow it scaled through.
• **2013 - A longer Bear Market**
The second bear season occurred in 2013 and lasted for almost two years. This made it longer than the very first experienced in 2011 which spanned for just 6 months. This particular bear season started in the month of December 2013 and lingered till August 2015. I wonder how investors would feel then.
According to records, Bitcoin dropped in price by 84%. It initial value of $1653.81 dropped to $255.56, leaving many investors in awe and pessimism. This time, the reason why Bitcoin had to suffer that decline was as a result of the shutting down of silk road by FBI on the ground of operating an online black market coupled with the collapse of Mt.Gox.
Bitcoin was not the only coin affected at this point, other altcoin suffered the blow. I hope you know that by this time, different altcoin had surfaced and were thriving. The whole incidence brought about loss of confidence on the path of investors and slowed down the adoption of cryptocurrency.
• **2018 - The Biggest Crypto Crash**
This era is fondly referred to as **"The great Crypto crash"**. It didn't really last for long, it's just for a year but then the impact was massive and heavy for investors to shoulder. In this period, Bitcoin suffered a decline in price by 83%.
This period seem to be unforgettable because of it negative impact on the growth and adoption of cryptocurrency.
Prior to the crash, cryptocurrency has already gained ground substantially in the mainstream media. They been able to instil confidence in the heart of many more who later become investors only for some dubious folks to show up with some malicious project during the ICO bubble in 2017.
Many of these project turned out to be fake project without value. They were more like some exit strategies and Ponzi scheme aimed at swindling the investor who were already loving the crypto idea. This injured their confidence and brought about pessimism.
In the heat of all these happenings was when China banned the use of crypto exchange in their country. All of these led to the crash in the price of Bitcoin and other alt coin that were thriving then.
|[Pexels](https://www.pexels.com/photo/cryptocurrency-chart-displayed-on-a-laptop-14751274/)|
|---------|
• **2021 - The beginning of another long winter season.**
Of course shortly after the last bear phase in 2018, the market recovered and blossom and then in 2021, there was another bear phase that lingered till 2024, in my opinion this seems to be the longest so far when judging with timeframe. Presently, the market is just recovering as it preparing and warming up for the next bull run which is already unfolding.
It seem we can't escape this bull run because Bitcoin halving, another catalyst for the bull run is just around the corner. We should see that happening soonest. Are you ready for this season? What plans have you put in place? Kindly share with me in the comment section. Thank you so much for your time.
----------
|**Conclusion**|
|--------|
------------
There you go friends.I would love to wrap it up at this juncture. I want to believe you've gotten so much from this piece. As my usual custom is, I would always encourage that you DYOR to be sure of every financial step you would want to take as I won't be liable for any form of loss encountered by you.
Feel free to share with me your thoughts in the comment section. Thanks for your time once again. Gracias!
-------------
**Disclaimer: This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your own research and consult a financial advisor.**
----------
Regards
@lhorgic♥️
-----------
Reference
