The History of Bitcoin Crashes Shows This Selloff Could Get Worse
By the standards of most assets, a crash of 38 percent would be a showstopper -- not for bitcoin though. The crypocurrency’s plunge from Monday’s high of $19,511 to as low as $12,192 Friday isn’t even particularly eye-catching on a logarithmic scale, used to compare relative percentage-point sizes of moves. At least three times since 2010, the first year for which Bloomberg prices are available, bitcoin has retreated more than 70 percent from record highs. Caveat emptor.