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April 25, 2022

What is a crypto winter?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today, we explain what insiders mean when they speak of a crypto winter.

Surely, you have heard the term a lot lately, and that is no coincidence. It refers to a prolonged period of time during which prices across the wider crypto market drop significantly and stay at much lower levels than they used to be.

The first real crypto winter happened after Bitcoins ran up to $20,000 dollars in December 2017.To put that in perspective, just a year earlier it was still under $1000. After all the way down to $3500, it took Bitcoin a full 3 years to get back to the previous record.

And the winter was definitely over, followed by prices going over $60,000 frequently until recently. Then in January 2022, Bitcoin halved in price and investors are still worried about a crypto winter.

But should you? It’s impossible to predict the future, but keep in mind that Bitcoin recovered last time too, it only took a really long time. And maybe a crypto winter isn’t the worst thing, so innovators focus on bringing crypto to the mainstream instead of making a quick buck.

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