Bitcoin Price Decline Resembles Thanksgiving Massacre 2020

Bitcoin took a sharp nosedive four years ago around Thanksgiving, similar to the recent drop after failing to break through the $100,000 mark. Back in 2020, Bitcoin went from around $19,500 to $16,200 in just over a day, earning the nickname “Thanksgiving Day Massacre.”

Fast forward to today, and we’re seeing a similar trend, with Bitcoin dropping about 8% to $91,500 after almost hitting $100,000. The good news is that history shows us that those who bought the dip in 2020 were handsomely rewarded. Within four days, Bitcoin had bounced back to nearly $20,000, eventually soaring to over $24,000 by mid-December and hitting a record high above $30,000 by the end of the year.

It’s important to note that while the numbers may seem intimidating now, the crypto market has shown resilience in the face of dips in the past. So, for all the crypto enthusiasts out there, this could be an opportunity in disguise. Let’s see how things unfold and remember to stay informed and cautious in times of market volatility.