Is Bitcoin's Decline Indicating a Bear Market for Cryptocurrencies?
Bitcoin's recent 14% plunge and over 50% drawdown raise concerns about a potential bear market for cryptocurrencies.
In a startling turn of events, Bitcoin has experienced a significant decline, marked by a 14% drop in just one day. This steep decrease, coupled with an overall decline exceeding 50%, has led many analysts to question whether Bitcoin has entered a phase commonly linked with bear markets.