When your favorite crypto “crashes and burns” … it’s never fun to say the least. In this article I point out the largest selloffs in the past 6 years for Ethereum. Not because I am in a negative mood (like some of us likely are right now…) but because I’m truly a glass half full kinda guy.
Looking at prior crashes helps us gain some perspective when trying to decide if right now is the best time to sell. If you are someone who is still holding and thinking about getting out of a position this perspective will be quite valuable. I will also help to draw conclusions about what the recent selloff means … Is it just a large dip? Is the Bull Market over? Don’t let the news or podcasts tell you if you should buy or sell your Crypto, use research like I’m about to provide below so you can make your own informed decision.
First up is the flash crash of March 11, 2020 where the CCI (20) value of Ethereum dipped to -303.63:
Next is a little larger selloff (In terms of CCI(20) that happened on December 16, 2019 just a few months earlier where we touched down to -309.77:
Only 1 month prior was the November 21, 2019 selloff where we slid all the way down to -355.10:
Prior to that was a large drop on Septemeber 5, 2018 which dropped down to -352.26:
Way back on October 28, 2016 we dropped down to -312.16:
Finally Last but not least our most recent crash for Ethereum … where on May 22, 2021 went down to -180.32:
After comparing these drops it seems to be that the recent pullback was more likely a healthy correction than anything else. I believe that the bull market is alive and well and we have many important milestones still ahead of us in the bull market.
Stay well my friends and HODL.