It’s been roughly a year and four months since Bitcoin topped over $65,500. The recent brutal bear market in Bitcoin and cryptocurrency was not the first. In fact, Bitcoin fell 80% or more on three different occasions – the 2017-2018 bear market, the Mt. Gox bear market of 2013-2016, and the initial brutal bear market of 2010-2013.

Despite Bitcoin’s resilience over the past decade, a lot has changed. Because of the maturing of the industry over the years, the recent bear market has been the worst in terms of both dollars lost and market cap. The Grayscale Bitcoin Trust (GBTC - Free Report), a proxy for Bitcoin, clearly illustrates the destruction.

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