The price dropped to approximately $5K at that time. Seeing that it's at $72K it's about a 1400% return in 4 years, not bad. For comparison, we can note that the S&P 500 had a return of 125% in the same period, which is not bad but far from the Bitcoin return.

This end of cycle can make us optimistic after the disappointing mid-cycle returns.

Yes it was a crazy time. Who remembers Bitmex back then?

For those that don’t know it was the largest perps swap exchange at the time. And there was massive massive liquidations. It got so bad that the owner basically shut down the exchange because if he didn’t it would of collapsed to $0.

Most likely other exchanges would of been fine but the arbitragers would of kept hedging and dumping on other exchanges. It was a crazy time.

For the next few days the exchange had a huge discount relative to spot. I think something like $500 or so. That sure was a crazy day.

To be clear that drop had nothing to do with the pandemic nor did it have anything to do with other markets crashing. It was all about the economy crashing. To be more specific it was the recession that led to bitcoin price dropping too.

That's the same reason why this current rise was postponed this much. All the conflicts over the past 2 years and crisis that followed caused recession that prevented bitcoin from rising. Even though recession is not over and it still is creating sell pressure on the market, but the demand has risen so much that is currently countering that.

Not just Bitcoin! The entire market came back up now. I know a person who used to be my colleague in 2020, is not living a worry free life and had taken retirement in December 2023 at the age of 38. Just because he had invested all his life savings in the stock market when the market crashed. Opportunity often knocks on our door, but we fail to recognize it. That fellow did and was able to save so much money that he doesn't need to worry about finances for the rest of his life.

Same happened for Bitcoin as well. I hope some of you had invested during that time and was able to gather a huge amount of sum for a worry free life.

I mean there were just too many things that are affecting the market price of Bitcoin and even though we all believed that Bitcoin was going to reach a certain market price in the value the truth is we dont really know what is going to happen, We could make this whole pandemic thing as an example, no one really expects for it to happen at times like that, Something could easily appear again making the market drop we just doesnt know how could come up that easily that could make the market down, its surely great to see Bitcoin recover and now reaches a new all-time high.

It is still a very risky market overall, the Bitcoin ETF surely has a huge effect, the market is buying the rumors as well as increasing its market price, Bitcoin ETF surely bought a lot of Bitcoin but still, it wouldn't going to make you a bagload of money, because the market price is just too high already, we can already see a huge slow down as when Bitcoin is just getting started in the market, We already see it skyrocket up to 1200$ which could give a huge profit to those early investors but buying the Bitcoin today around 70k$ is going to be a different story, I mean if the Bitcoin reach about 150k$ that is just going to be around x2 of your investment which is going to be a small up on the value considering altcoins in the market could profit up more than 1000%.

Still would continue to invest in Bitcoin since it is the safer investment compared to others, the best strategy is to invest in other potential tokens as well with only a small percentage to still make a possible huge profit with very little risk.

Same, thankfully, I don't even touch my bitcoin holdings; in fact, I do DCA while it is pandemic and the price of bitcoin at that time is lower compared to now. Imagine how much I earn, but still, I don't sell any of my bitcoin holdings because I know the actual bull run is still not in place. What is happening now is just because of the halving event and also because of the ETF approval. I managed to accumulate more bitcoin in the pandemic because I do online jobs. After months of the pandemic, I managed to land different side jobs done only and also crypto currency stuff. I also added that NFT became in demand during the pandemic, so there's no need for me to sell my bitcoin in order to survive. We can't blame those who forced to sell their bitcoin because we know how hard we gone through during pandemic.

Sometimes life is like that, you are forced into a corner and you cannot do anything but to take a decision that you know will have consequences on the future, so anyone that sold their coins because of that kind of event going on their lives simply did their best, but there are many people out there that panicked because of that sudden drop and sold their coins, and those people do not have too much of an excuse, since they should have known better as bitcoin is a great asset to hold.

It’s truly devastating imagine seeing the price of bitcoin today and thinking of what ifs and what could haves. Many people had no choice but to sell a lot of their assets when the pandemic hit just to stay afloat. Not only coins, but also their cars, houses and even businesses.

It’s just a lot regretful if you had sold your bitcoin back then knowing that if you just had another choice you would have been a richer man now. But now we are seeing a bit of the light so we should try to acquire bitcoin and hold them for long.

It was a great buying opportunity, a true gift if you were already a battle hardened Bitcoin investor. I remember it very well, I bought heavily because I knew it was just a reaction to the COVID announcement. We went down like 50% in one day but we recovered quite quickly & now look at the price. Bitcoin is unstoppable, any future opportunity similar to what happened back then will be another gift which I will take advantage of.

Pandemic really made things worse. If you held onto your bitcoins through the madness, you're in for a sweet ride. It's been a wild journey, from market crashes to crypto comebacks. The lesson? HODL pays off. Here's to the crypto enthusiasts who weathered the storm and are now riding the Bitcoin wave to new highs