BITCOIN SEASON 2: Bitcoin’s Biggest Crashes Compared!

Apr 12, 2025

Dive into the turbulent world of Bitcoin as we compare its latest 30% plunge to historic crashes like COVID, Terra/Luna, and FTX. Discover how market sentiment varies even with similar drops and analyze the factors fueling these dramatic declines. Investigate whether Bitcoin is a risk-on asset or if its future lies in the risk-off realm. From fiscal policies to the controversies of crypto giants, this discussion reveals the chaotic interplay of economics and digital currency!

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INSIGHT

Similarities Between 2020 and Current Crash

The COVID crash of 2020 mirrors the current crash caused by Trump's tariff policy, creating global panic.
Both involved mass liquidity events, with Bitcoin reacting like a risk-on asset.

ANECDOTE

The COVID Crash of 2020

Bitcoin crashed by 50% during the COVID crash of March 2020, a day burned into Bitcoiners' memories.
Many remember exactly where they were, watching their net worth evaporate.

ANECDOTE

BitMEX "Outage"

During the COVID crash, BitMEX had an "outage" around $4,000, possibly saving Bitcoin from further decline.
Arthur Hayes, BitMEX co-founder, gained legendary status for potentially preventing a total liquidation.

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