- The cryptocurrency market has lost around half of its value since hitting an all-time high above $830 billion earlier this month.
- Joe DiPasquale, the founder of crypto fund of funds BitBull Capital, tells Business Insider this is a market event the crypto world has seen play out over each of the past three years.
Cryptocurrency markets are crashing early in the new year — but bitcoin investors have seen this before
The cryptocurrency market has lost around half of its value since hitting an all-time high above $830 billion earlier this month. But we've seen this before.
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The cryptocurrency markets are shuddering in what some are calling a "cryptocurrency bloodbath," but long-term bitcoin holders will tell you they've seen this before.
In fact, this is the third year in a row that bitcoin — and the overall market for digital coins — has plunged early in the new year, according to a blog post by Joe DiPasquale, the chief executive officer of crypto fund of funds BitBull Capital.
DiPasquale calls it "the perennial dip."
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Mati Greenspan, an analyst with the trading platform eToro, told Business Insider's Oscar Williams-Grut on Tuesday that volumes from Japan and South Korea had been tailing off in recent days.